"Indeed, the fund's long-term record has been good. For the 10 years ended in 1996, its annual return was 21.8 percent on average, 6.5 percentage points ahead of the Standard & Poor's 500-stock index...
Through Thursday, Giftrust had lost 13.0 percent for the year, while Royce Gift Shares had gained 3.94 percent. Last year, the Royce fund returned 25.6 percent, while Giftrust was up just 5.8 percent."
Ed McQuarrie talks the REAL History of Stocks and Bond performance.
https://www.morningstar.com/funds/vanguard-wellesley-income-is-top-choice
Could be a great fund to start with starting in retirement and cash. Or use Vanguard Wellington and cash if you want to be more aggresive