I got a kick out of the ticker when I first saw it. IMF, similar to WIW is 80% TIPS and can put up to 20% in emerging market bonds. IMF yields 5.9% and trades at a 9.2% discount.
A reader asked, because of the expense, why not buy a something like the iShares TIPS (ticker: TIP) with 80% of your money and an emerging market bond CEF with the other 20%. He says it would be cheaper and he is probably correct. Having one fund instead of two is simpler, which would appeal to some people. Also with accounts below $100,000, commission may start to be a factor, but the question is clearly a very good one.