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Small and value asset classes are considered relatively tax inefficient. Does anyone have a rough number in their head as to what additional return a TM small or TM value fund might yield compared to the non tax managed fund for the taxable investor?
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Here's the comparison for Vanguard's tax-managed funds:viewtopic.php?f=10&t=95518
With the development of ETFs, small-cap and value index funds can avoid most capital gains. Tax management can reduce dividend yields (TM Capital Appreciation) or have 100% qualified dividends (TM Small-Cap and TM International; none of Vanguard's other small-cap or international funds have 100%), so it still gives a small benefit. (The benefit from 100% qualified dividends might expire.)
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