I owned Wellington and Star up until August, when a recession looked like a real possibility. Then went all Balanced Index. I prefer Wellington and Star in good times, but Balanced is best in a bear market. Just compare them from 1999 - 2002. Why is Balanced better, because it has treasury bonds which really jump in a bear market. For the coming 2008-2010 bear market with the subprime bond mess, I'll stick with VBINX treasury bonds. When this mess is over and I trust bonds again, then back to Wellington, a great 5-Star fund. Just my 2-cents.