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vanguard Wellesley income fund- not sure how to go about accumulating this one at a low cost. fidelity and Merrill charge a lot to buy it not just one time, but every time. I don’t want to put in huge sum all at once. I don’t have a  retirement account in vanguard and have been advised not to buy it in a taxable account.... any ideas or suggestions from experts? Thanks!
VWINX is somewhat unique. Morningstar has it in the 30-50% equity category for Allocation/Balanced funds. It leans to the value side (unusual). It has relatively low costs but the bond duration is a little long for my liking.  Although it has done well, it is not something I prefer to invest in, since it combines too many moving parts (US. foreign, fixed income).  I prefer to manage each of the parts separately.
Use Fidelity's screener tool to find something similar. It took me less than 5 minutes to find CFIAX that has outperformed VWINX over a 3 year period 26% to 18%
Not sure why my mind was stuck on VWINX (probably read too much on its consistent performance)... I don’t invest in a single ETF without running a comparison for equivalents on Fidelity, but MF comparison somehow never occurred to me. Haven’t done much investing in MFs till now. But thanks so much for your suggestions. I will look in to what you said too and will soon update on my investment!
CFIAX expense ratio of 1.15% and load of 5+%   
Believe CFIAX is offered load-waived by Fidelity.  It does have relatively high expenses.
It focuses on large cap value. The credit quality on the bond side is not that good.
No load. Keep in mind expenses are pre return so the 26% vs 18% comparison I posted above is after expenses.

I think folks get hung up on expenses. What matters is performance. Expenses really only matter when you are comparing two investments in the same thing, like an index. Then higher expenses become a drag. For something proprietary like an allocation fund, you pay for performance.
I will consider funds that have higher expenses if they tend to have consistent better performance. If they are not consistent, however, I may be reluctant to pay for what may be luck rather than skill.

Note that CFAIX, to my eye, tends to be quite a bit more volatile than VWINX. For example, for the one-year period ending 11 Feb 2016, CFIAX appears to have lost about 16.5% (with dividends reinvested), while VWINX lost about 0.9%.

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