I am retired, moving from Vanguard to either Fidelity or Schwab.
I have a large allocation to VWIUX (Vanguard Intermediate Muni) at Vanguard. Unfortunately, this fund is not accepted at either Fidelity or Schwab. I have looked at the following choices. Note that I have unrealized losses to TLH, so switching will not incur a loss. Also note that I would really prefer to stay with VWIUX as I feel none of these choices is as good.
VWITX. Same fund, Investor shares. Will lose .09% per year due to higher expense ratio, a completely uncompensated difference. This amounts to thousands of dollars per year.
VTEB. Vanguard ETF, close to VWIUX, but not quite. Lower total return with lower income better NAV, similar average duration and quality, however, higher maturity, which means its bonds more likely to be called. The effect of this can be seen this year with the rise in rates, and VTEB has lagged.
MUB. ETF, does not perform as well, and I do not like its composition (a lot of internal iShares investments). Also, longer duration/etc
FLTMX. Fidelity fund, very similar to VWIUX, similar/same total return, but expense ratio is .23% more. I believe they get the same return as VWIUX by using less quality (showing up as less GO bonds). And while it has the same total return, it provides less income/better NAV, which is not a good tradeoff for a muni fund.
Thanks in advance for any perspectives/advice
I have a large allocation to VWIUX (Vanguard Intermediate Muni) at Vanguard. Unfortunately, this fund is not accepted at either Fidelity or Schwab. I have looked at the following choices. Note that I have unrealized losses to TLH, so switching will not incur a loss. Also note that I would really prefer to stay with VWIUX as I feel none of these choices is as good.
VWITX. Same fund, Investor shares. Will lose .09% per year due to higher expense ratio, a completely uncompensated difference. This amounts to thousands of dollars per year.
VTEB. Vanguard ETF, close to VWIUX, but not quite. Lower total return with lower income better NAV, similar average duration and quality, however, higher maturity, which means its bonds more likely to be called. The effect of this can be seen this year with the rise in rates, and VTEB has lagged.
MUB. ETF, does not perform as well, and I do not like its composition (a lot of internal iShares investments). Also, longer duration/etc
FLTMX. Fidelity fund, very similar to VWIUX, similar/same total return, but expense ratio is .23% more. I believe they get the same return as VWIUX by using less quality (showing up as less GO bonds). And while it has the same total return, it provides less income/better NAV, which is not a good tradeoff for a muni fund.
Thanks in advance for any perspectives/advice