but until I see one who can show me the data saying they have exceeded Wellington net of fees for at least 5 year,A bit of caution on such a claim.It would be rather easy (for those with premium Morningstar access) to find an allocation or a fund that beat such net of fees. That does not necessarily mean that it is a good investment.Even within Wellington's asset class, Morningstar has 25 other funds that beat it over the last five years.Wellington is ranked #4 for the last 10 years though so no way to argue that it has not been a stellar performer.Even though Wellington has done an outstanding job over the last 10 years, I do caution you on it in a rising interest rate environment. It does hold 1/3 of its assets in high quality, high duration bonds.For every 1% increase in interest rates, the bond holdings in Wellington will lose 6% in value (Duration of 5.96 years). Additionally, the average price of their holdings is trading at over $104 - so even if they hold to maturity, those bonds are going to lose that $4 average premium in time.Keep a close(r) eye on it in a moderately increasing interest rate environment.
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