What are the pros and cons of Inflation Protected funds vs Intermediate Government Securities funds?
https://www.investopedia.com/articles/bonds/08/bond-risks.asp  Interest Rate Risk and Bond Prices Reinvestment Risk and Callable Bonds Inflation Risk and Bond Duration Credit/Default Risk of Bonds Rating Downgrades of Bonds Liquidity Risk of Bonds  PRRIX is a TIPS (aka variable rate) bond fund, which protects against Inflation Risk, which means that even when (like now) interest rates stay low, even though inflation is starting to rise (PRRIX's "current month" yield has spiked in the last three months). That's good, since SGVIX is normal (aka constant rate) bond fund: it's bonds yield what they yield no matter what inflation does. This why PRRIX names itself Real Return (since real returns are "yield - inflation"). Unfortunately, PRRIX has a much longer Effective Duration than does SGVIX, which means that it's more sensitive to Interest Rate Risk (bond prices are inversely related to interest rates, and the higher the duration, the farther that the fund price falls when interest rates rise. But since PRRIX is yielding more than SGVIX, your account's balance won't suffer as much as if you were holding a Long Government compared to SGVIX. Bottom Line: bond funds are complicated. Very, very complicated. Conflict of Interest statement: In late April, I started putting "new" 401(k) money in PRRIX instead of VBTIX (a Total Bond Market fund which is heavily weighted to US gov't bonds). I'll probably be moving some existing VBTIX into PRRIX.