steelyman
Moderator Emeritus
The Bogleheads are probably all over this one. I received it through Bloomberg. It’s an article about how Vanguard uses mutual funds and ETFs to improve tax efficiency.
https://www.bloomberg.com/graphics/2019-vanguard-mutual-fund-tax-dodge
Like flipping a light switch, Vanguard Group Inc. has figured out a way to shut off taxes in its mutual funds.
The first to benefit was the Vanguard Total Stock Market Index Fund. Investors’ end-of-year tax forms abruptly stopped showing capital gains in 2001, even as the fund went on to generate billions of dollars of them. By 2011, Vanguard had flipped the switch in 14 stock funds. In all, these funds have booked $191 billion in gains while reporting zero to the Internal Revenue Service.
https://www.bloomberg.com/graphics/2019-vanguard-mutual-fund-tax-dodge
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