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The Importance of Total Return

As rates remain low, many investors overlook the risks of higher-yielding fixed-income assets; instead, they should maintain low-cost, well-diversified portfolios, says Vanguard's Fran Kinniry.

Josh Charlson: Hi. I’m Josh Charlson with Morningstar. We’re here at the Morningstar Investment Conference. I’m going to be talking about one of the most troubling issues for investors today, and that is what to do about the low-yield environment. To join us we have Fran Kinniry from Vanguard. He is a principal in the investment strategy group at Vanguard, where he oversees a number of their asset-allocation strategies, including their target-date retirement funds and the Vanguard Managed Payout funds.

Fran, thanks for joining us.