Fixed Income

We believe that high-quality bonds are the best hedge against the volatility of common stocks.  The majority of our fixed-income investments share the following characteristics:

  • High Credit Quality

  • Lower Interest Rate Sensitivity

  • Diversified Exposure to Governments, Agencies, TIPS, Corporates and Municipals

  • Passive ETFs

Our goal is to achieve capital preservation and moderate levels of income.  The majority of investments are concentrated in passive Exchange Traded Bond Funds(as of 06/30/19).

Untitled Document
Characteristics Taxable Model Tax-Exempt Model
Credit Quality Average AA AA
Yield to Maturity 2.3% 2.6%
Effective Duration 3.0 2.9
Top 3 Holdings  VGSH, SHM, SPSB SPSB, VGSH, VMBS