Gyroscopic Investing

My question is mainly around what is the most tax efficient.  I understand TLT, SHY, and VTI might throw off some income.  Does PRPFX throw off income in a similar manner?

The priority should be avoiding short term capital gains first, and avoiding long term capital gains second.

I appreciate the input of everyone on the forum - this is a question that has been nagging me for a while about tax efficiency.

For the one person that chose PRPFX+EDV I'd be very interested in hearing why.  Is it because that combination throws off less income than the 4xPP, or requires less rebalancing?  I'm assuming that in accumulation phase you could (hopefully) avoid rebalancing as much as possible by contributing to lagging assets.  If you are contributing to cash instead and rebalancing at 35% this might change the tax structure significantly.

Thanks for your input.