GMOI
GMO International Value ETF
stock NYSE ETF

Fair points. Rate risk and US valuation risk are both real concerns.
That’s part of why I don’t want this to be only long-duration bonds or only US equity income. I’m trying to keep the income sleeve diversified by source, while slowly building the growth sleeve with broader global exposure.
I agree VXUS helps. I haven’t looked closely enough at GMOI/GMOV or JOF to have a strong view, but the idea of adding more international/value exposure makes sense to me even if the yield is lower.
The tradeoff is always the same: more durability and valuation discipline usually means giving up some current income.

I respect what you are doing. My concern with the portfolio is that I believe we have entered a secular bear market for 10 year rates. If so, I think anything longer than T-Bills is going to take it on the chin. I think Jeremey Grantham is also correct that everything in the US stock market is grotesquely overvalued, and is likely to mean-revert over the next 7-10 years. I like the VXUS allocation. You might want to take a look at GMOI for international deep value. GMO also offers a US value ETF, GMOV. But both of these yield below 3.

Fair points. Rate risk and US valuation risk are both real concerns.
That’s part of why I don’t want this to be only long-duration bonds or only US equity income. I’m trying to keep the income sleeve diversified by source, while slowly building the growth sleeve with broader global exposure.
I agree VXUS helps. I haven’t looked closely enough at GMOI/GMOV or JOF to have a strong view, but the idea of adding more international/value exposure makes sense to me even if the yield is lower.
The tradeoff is always the same: more durability and valuation discipline usually means giving up some current income.

I respect what you are doing. My concern with the portfolio is that I believe we have entered a secular bear market for 10 year rates. If so, I think anything longer than T-Bills is going to take it on the chin. I think Jeremey Grantham is also correct that everything in the US stock market is grotesquely overvalued, and is likely to mean-revert over the next 7-10 years. I like the VXUS allocation. You might want to take a look at GMOI for international deep value. GMO also offers a US value ETF, GMOV. But both of these yield below 3.