000			01803nab a2200265 c 4500
999			_c146496 _d146496
003			ES-MaIEF
005			20220930185419.0
007			ta
008			220930t2022 us ||||| |||| 00| ||eng d
040			_aES-MaIEF _bspa _cES-MaIEF
100	1		_aToolson, Richard B. _932299
245	1	0	_aAre actively managed exchange traded equity funds tax efficient? _c Richard B. Toolson
500			_aResumen.
520			_aA fund may be classified as tax efficient if it does not distribute capital gains to shareholders. Because of the unique structure of exchanged traded funds (ETFs), ETFs that track a broad market index have historically demonstrated tax efficiency by rarely making capital gains distributions to shareholders. Stock turnover for actively managed mutual funds is the norm because their objective is to buy and sell stocks with the goal of outperforming their benchmark index. The result is that they often make significant capital gains distributions. A number of large well respected investment management companies have started to offer actively managed ETFs. This article examines the capital gains distribution track record for seven actively managed EFTs from two large well-regarded investment management firms. Tentatively, based on the capital gains distribution track record of these actively managed ETFs, the results are encouraging.
650		4	_aACCIONISTAS _9973
650		4	_aBOLSA DE VALORES _947726
650		4	_aPLUSVALIAS _943197
650		4	_aACCIONES _93357
650		4	_aFONDOS DE INVERSION _944386
650		4	_aEFICIENCIA _943270
650		4	_aVALORES DE RENTA VARIABLE _949748
650		4	_aESTADOS UNIDOS _942888
773	0		_9168003 _oOP 235/2022/2 _tJournal of Taxation of Investments _w(IEF)51921 _x 0747-9115 _gv. 39, n. 2, Winter 2022, p. 23-31
942			_cART