Search found 2110 matches

by Barry Barnitz
Tue Aug 22, 2017 11:34 am
Forum: Investing - Theory, News & General
Topic: Vanguard Announces Plans To Launch Total Corporate Bond ETF
Replies: 17
Views: 1426

Re: "more than 371 funds?"

Bogleheads: According to the Announcement: The firm, headquartered in Valley Forge, Pennsylvania, offers more than 371 funds . Can anyone explain why Vanguard offers so many funds? Best wishes Taylor Hi Taylor: The complete statement contains one answer to your question: The firm, headquartered in ...
by Barry Barnitz
Sun Jul 30, 2017 12:39 pm
Forum: Investing - Theory, News & General
Topic: What was the expense ratio of Vanguard's S&P 500 fund in 1976
Replies: 17
Views: 2279

Re: What was the expense ratio of Vanguard's S&P 500 fund in 1976

Hi: In addition to the expense ratio, Vanguard's S&P 500 index fund also imposed, in its early years of operation, a quarterly $2.50 fee from the quarterly dividend. This $10 annual deduction from income resulted in an additional 1% annual cost in relation to the $1,000 minimum investment. As a ...
by Barry Barnitz
Sun Jul 30, 2017 5:13 am
Forum: Investing - Theory, News & General
Topic: "Why Don’t Vanguard’s Target Retirement and LifeStrategy Funds Own Admiral Shares?"
Replies: 37
Views: 4383

Re: "Why Don’t Vanguard’s Target Retirement and LifeStrategy Funds Own Admiral Shares?"

Hi: Vanguard could offer multiple share classes of Target Retirement and LifeStrategy funds by: 1. Converting the investor class funds into ETFs. The funds, depending upon asset allocations would then have acquired fund expenses ranging from 5 to 8 basis points. 2. The funds would then charge the at...
by Barry Barnitz
Sat Jul 15, 2017 10:56 am
Forum: Investing - Theory, News & General
Topic: Vanguard files preliminary proxy
Replies: 1
Views: 628

Vanguard files preliminary proxy

Hi: Press release: Vanguard Funds File Preliminary Proxy Statement Seeking Shareholder Election Of Trustees And Approval Of Policy Changes Vanguard filed a preliminary proxy statement with the SEC on July 13 , 2017. Shareholders will have the opportunity to vote on the following proposals: Election ...
by Barry Barnitz
Sat Jun 03, 2017 12:50 pm
Forum: Investing - Theory, News & General
Topic: Zacks says sell Wellesley!?
Replies: 92
Views: 11747

Re: Zacks says sell Wellesley!?

Hi Nisi: Here are some links regarding Zachs: Zacks Investment Research , investopedia Zacks Investment Research - Fidelity Zacks Investment Research Inc.: Private Company Information - Bloomberg Who are the most (least) accurate stock gurus? - CBS News (Larry Swedroe, February 13, 2013) regards,
by Barry Barnitz
Sat May 13, 2017 2:43 am
Forum: Investing - Theory, News & General
Topic: Bogleheads® Wiki 2017 annual report
Replies: 2
Views: 794

Bogleheads® Wiki 2017 annual report

May 13, 2017 marks the ninth anniversary of the founding of the Bogleheads Wiki. As is customary, we issue an annual report to the forum readership on this date, giving everyone a glimpse at the statistical measures of wiki page creation, editing, and readership. Although wiki readership declined ov...
by Barry Barnitz
Thu May 04, 2017 1:30 pm
Forum: Investing - Theory, News & General
Topic: Chief Investment Officer of Vanguard, Gus Sauter, to retire
Replies: 42
Views: 6186

Re: Chief Investment Officer of Vanguard, Gus Sauter, to ret

nisiprius wrote:Yikes! He is the Scotty to Jack Bogle's Kirk, how's that for a "ship" metaphor? I hope someone will write a biography about him; his contributions to Vanguard are incalculable.


Hi Nisi;

Here is our wiki page on Gus Sauter--->George Upham Sauter - Bogleheads

regards,
by Barry Barnitz
Fri Apr 28, 2017 2:55 pm
Forum: Investing - Theory, News & General
Topic: Vanguard Press Release--Vanguard: World's Largest Stock And Bond Funds Report Lower Expense Ratios
Replies: 7
Views: 1604

Re: Vanguard Press Release--Vanguard: World's Largest Stock And Bond Funds Report Lower Expense Ratios

Hi: The wiki and blog keep track of index fund expenses and security lending income. See Category:Vanguard funds:expenses - Bogleheads for extended history of fund expense ratios and brokerage commission expense ratios. Security lending income for the just concluded fiscal year is included in the fo...
by Barry Barnitz
Wed Apr 26, 2017 4:30 pm
Forum: Investing - Theory, News & General
Topic: Not enough US market listings?
Replies: 14
Views: 1662

Re: Not enough US market listings?

Hi: From Credit Suisse, The Incredible Shrinking Universe of Stocks . This trend is more pronounced in the U.S. than in any other developed economy. For example, while the number of listings fell by roughly 50 percent in the U.S. from 1996 through 2016, it rose about 50 percent in 13 developed count...
by Barry Barnitz
Wed Mar 15, 2017 12:36 pm
Forum: Investing - Theory, News & General
Topic: DALBAR report methodological flaws - Prof. Pfau
Replies: 29
Views: 2828

Re: DALBAR report methodological flaws - Prof. Pfau

The big shocker is the lower end value then gets annualized back into a return %. If you have the money available up front you would earn 10% a year. If you don't have the money available up front you will end up with the same dollar value as if you had the money available up front and you only ear...
by Barry Barnitz
Fri Mar 10, 2017 2:32 pm
Forum: Personal Consumer Issues
Topic: How to Die
Replies: 167
Views: 24794

Re: How to Die

White Coat Investor wrote:
But I'm not just talking about someone with a terminal disease. We all have a terminal disease. It's called life.


Emily Dickinson (156)

Surgeons must be very careful
When they take the knife!
Underneath their fine incisions
Stirs the Culprit - Life!
by Barry Barnitz
Thu Mar 02, 2017 1:59 pm
Forum: Investing - Theory, News & General
Topic: Allan Roth: "Why ETFs Won't Replace Mutual Funds"
Replies: 45
Views: 3978

Re: Allan Roth: "Why ETFs Won't Replace Mutual Funds"

Unfortunately for us Canadians, Vanguard Canada does not offer mutual funds, so we are stuck with ETFs. Thankfully the bid-ask spread is only about $0.01 for all of the Vanguard ETFs I purchase. Hi: While, understandably, the comments are reflecting the parochial views of US investors, keep in mind...
by Barry Barnitz
Tue Feb 28, 2017 4:14 pm
Forum: Local Chapters and Bogleheads Community
Topic: What Happened to Hampton Roads Chapter
Replies: 12
Views: 2073

Re: What Happened to Hampton Roads Chapter

Hi:

A brief history, as well as the current status of the chapter is spelled out in our blog page Hampton Roads Bogleheads® | Financial Page.

regards,
by Barry Barnitz
Tue Feb 28, 2017 2:53 am
Forum: Local Chapters and Bogleheads Community
Topic: Bogleheads Local Chapters: Now in the Bogleheads Blog!
Replies: 12
Views: 2102

Re: Bogleheads Local Chapters: Now in the Bogleheads Blog!

Hi: Thanks all for supplying the information. I have placed it into narrative form and formatted the posts. See: Bogleheads® local chapters - Cleveland Bogleheads® - Sacramento Bogleheads® - Seattle Bogleheads® I would like to point out a specified example of the potential value of our calendar. At ...
by Barry Barnitz
Sun Feb 26, 2017 7:14 pm
Forum: Local Chapters and Bogleheads Community
Topic: Bogleheads Local Chapters: Now in the Bogleheads Blog!
Replies: 12
Views: 2102

Re: Bogleheads Local Chapters: Now in the Bogleheads Blog!

Hi: The following chapters are listed as inactive in our database. If any of these chapters is active, please inform us Inactive local chapters Chapter 1 - Dallas / Fort Worth (resolved) Chapter 3 - Southern California (resolved) Chapter 4 - Arizona (resolved) Chapter 9 - San Francisco Bay Area (res...
by Barry Barnitz
Sat Feb 25, 2017 9:55 pm
Forum: Local Chapters and Bogleheads Community
Topic: Bogleheads Local Chapters: Now in the Bogleheads Blog!
Replies: 12
Views: 2102

Re: Bogleheads Local Chapters: Now in the Bogleheads Blog!

Hi: To provide an example of some of the difficulties involved in using public information to determine the active chapter/inert chapter status of a given chapter I will document three cases. Case One: Baltimore-Southern Pennsylvania Chapter Master thread The chapter has the following documented mee...
by Barry Barnitz
Sun Feb 19, 2017 2:07 pm
Forum: Local Chapters and Bogleheads Community
Topic: HAPPY 10TH BIRTHDAY BOGLEHEADS FORUM
Replies: 66
Views: 4817

Re: HAPPY 10TH BIRTHDAY BOGLEHEADS FORUM

Hi:

Mel's post on our blog, perhaps reaching a different audience ----> Bogleheads forum 10th anniversary | Financial Page

regards,
by Barry Barnitz
Fri Feb 17, 2017 2:02 pm
Forum: Local Chapters and Bogleheads Community
Topic: Master Thread for UAE Bogleheads
Replies: 1
Views: 1173

Re: Master Thread for UAE Bogleheads

Hi: News article on UAE Bogleheads: How to join the Boglehead movement | The National Sebastien Aguilar believes anyone can learn to manage their investments, and it is his group’s mission to teach as many people as it can. "We believe everyone can take control of their finances and learn to fe...
by Barry Barnitz
Fri Feb 10, 2017 4:09 pm
Forum: Forum Issues and Administration
Topic: [Bogleheads Sites Are Ad-Free]
Replies: 45
Views: 4189

[Bogleheads Sites Are Ad-Free]

HI: Taylor Larimore points out that one of the most important aspects of our sites is that they are non-commercial and ad-free . He suggests that we emphasize that not only are the sites hosted by bogleheads.org. ad-free, but that the non-hosted affiliate sites are also ad-free. The sites hosted by ...
by Barry Barnitz
Wed Feb 08, 2017 2:50 pm
Forum: Local Chapters and Bogleheads Community
Topic: Amazon Smile: John C Bogle Center
Replies: 22
Views: 3810

Re: Amazon Smile: John C Bogle Center

Which provides the larger donation to the Bogle Center: Amazon Smile or the Amazon link in the "Support This Site" box on the bogleheads.org homepage? These are two separate entities: The Amazon smile program being discussed sends donations to the Bogle Center: Questions and answers | The...
by Barry Barnitz
Sat Feb 04, 2017 5:05 pm
Forum: Local Chapters and Bogleheads Community
Topic: Master Thread for RTP, North Carolina Bogleheads Chapter
Replies: 36
Views: 11119

Re: Master Thread for RTP, North Carolina Bogleheads Chapter

Hi RTP local chapter members (and all interested readers): We have published Steve's local chapter meeting summaries on the site's affiliate blog, Financial Page. These posts are organized under the RTP North Carolina Local Chapter tag for precise grouping. This will allow you to quickly access the ...
by Barry Barnitz
Thu Feb 02, 2017 2:56 pm
Forum: Investing - Theory, News & General
Topic: BloomBar U.S. Aggregate Bond Index changing rules
Replies: 10
Views: 1302

Re: BloomBar U.S. Aggregate Bond Index changing rules

Hi:

Here is a Bloomberg site: Bloomberg Barclays Indices - Bloomberg The links to bond indexes will provide you with the current monikers.

regards,
by Barry Barnitz
Wed Feb 01, 2017 4:37 pm
Forum: Local Chapters and Bogleheads Community
Topic: Interview with Mel Lindauer, President of The John C. Bogle Center
Replies: 7
Views: 1624

Re: Interview with Mel Lindauer, President of The John C. Bogle Center

jes58 wrote:What is the address for donations ?


Here is the address:

    The John C. Bogle Center for Financial Literacy

    6977 Navajo Road, Suite 147

    San Diego CA 92119

regards,
by Barry Barnitz
Wed Feb 01, 2017 4:20 pm
Forum: Local Chapters and Bogleheads Community
Topic: Interview with Mel Lindauer, President of The John C. Bogle Center
Replies: 7
Views: 1624

Interview with Mel Lindauer, President of The John C. Bogle Center

Hi: Mel Lindauer, President of The John C. Bogle Center for Financial Literacy was kind enough to answer some questions posed by yours truly. We have posted this Q&A on the bogleheads.org. affiliate blog, Financial Page. Here is the link: Interview with Mel Lindauer, President of The John C. Bog...
by Barry Barnitz
Wed Feb 01, 2017 12:20 pm
Forum: Investing - Theory, News & General
Topic: BloomBar U.S. Aggregate Bond Index changing rules
Replies: 10
Views: 1302

BloomBar U.S. Aggregate Bond Index changing rules

Hi: In the news, the Bloomberg Barclays U.S. Aggregate Bond Index is changing its rules. Link --> In nod to index funds, 'Agg' bond benchmark changing rules | Reuters , Trevor Hunnicutt, 01/31/2017 One of the most widely tracked market indexes is raising its admission standards, potentially offering...
by Barry Barnitz
Sat Jan 28, 2017 2:02 pm
Forum: Investing - Theory, News & General
Topic: A time to EVALUATE your jitters
Replies: 205
Views: 113374

Re: A time to EVALUATE your jitters

HI:

Just to note. We have transcribed the original Nisiprius posting on the site's affiliate blog, Financial Page | A Bogleheads® blog.

A time to EVALUATE your jitters | Financial Page.

regards,
by Barry Barnitz
Fri Jan 27, 2017 4:56 pm
Forum: Investing - Theory, News & General
Topic: Vanguard Target Retirement 2010 to merge
Replies: 4
Views: 1745

Vanguard Target Retirement 2010 to merge

Hi: The Vanguard Target Retirement 2010 Fund will be merged into the Vanguard Target Retirement Income Fund in July 2017. Prospectus supplement: EDGAR ONLINE - VANGUARD CHESTER FUNDS (VFFVX) - 497 - 1/27/2017 Reorganization of Vanguard Target Retirement 2010 Fund into Vanguard Target Retirement Inco...
by Barry Barnitz
Tue Jan 24, 2017 12:57 pm
Forum: Local Chapters and Bogleheads Community
Topic: South Florida Local Chapter
Replies: 242
Views: 38443

Re: South Florida Local Chapter

Hi: Here is the blog posting of LazyNihilist's summary of the January 22, 2017 South Florida Local Chapter Meeting. We made a few small modifications to the text to fit it for the blog medium and to make the post clearer for a potential general public viewer. Thank you very much for the contribution...
by Barry Barnitz
Mon Jan 23, 2017 8:15 pm
Forum: Local Chapters and Bogleheads Community
Topic: South Florida Local Chapter
Replies: 242
Views: 38443

Re: South Florida Local Chapter

Hi: I was wondering if you would like to fashion a guest author blog entry from your forum post for our site's blog. I fashioned a first cut edit as a beginning template for transference. The bolded items are headers, and the numbers indicate a subheader. For reference, we added Upcoming events | Fi...
by Barry Barnitz
Mon Jan 23, 2017 4:13 am
Forum: Local Chapters and Bogleheads Community
Topic: New feature: Upcoming events| Financial Page
Replies: 2
Views: 686

New feature: Upcoming events| Financial Page

Hi: We have added a new "Upcoming events" feature to the bogleheads.org. blog, Financial Page, by incorporating a google calendar into a blog page. For easy access we have placed the page on the blog header ---> Financial Page | A Bogleheads® blog . Here is a direct link to "Upcoming ...
by Barry Barnitz
Sat Jan 21, 2017 3:22 pm
Forum: Forum Issues and Administration
Topic: scheduled down time morning of January 22
Replies: 13
Views: 1687

Re: scheduled down time morning of January 22

Hi:

I have posted the message on the forum's Financial Page blog, which is independent of the server. This will allow the message to remain visible and accessible during whatever outage ensues:

Announcement: Bogleheads.org down time Sunday, January 22 | Financial Page
by Barry Barnitz
Wed Jan 18, 2017 1:14 pm
Forum: Investing - Theory, News & General
Topic: An index isn't an index isn't an index...
Replies: 23
Views: 2863

Re: An index isn't an index isn't an index...

Some distinguishing features of CRSP indexes, according to Vanguard---> A closer look at CRSP Unlike other domestic providers, CRSP doesn’t use a fixed number of names to construct an index. Instead, it ranks every stock by market capitalization and then forms its indexes based on specific percentag...
by Barry Barnitz
Thu Jan 12, 2017 2:09 pm
Forum: Investing - Help with Personal Investments
Topic: I'm weary of unitized funds...is it irrational?
Replies: 21
Views: 1561

Re: I'm weary of unitized funds...is it irrational?

Here are some reading materials via google search: DB vs. DC: How unitized accounting can make a difference - Pensions & Investments from Fidelity glossary: Unitized Shares: When a stock fund is unitized, a participant’s balance in the fund is expressed in “unitized shares” or “units” instead of...
by Barry Barnitz
Wed Jan 11, 2017 2:55 am
Forum: Local Chapters and Bogleheads Community
Topic: Sad News About a Respected Forum Member
Replies: 118
Views: 21215

Re: Sad News About a Respected Forum Member

A tribute: On the very eve of his death, [Mozart] had the score of the Requiem brought to his bed, and himself (it was two o'clock in the afternoon) sang the alto part; Schack, the family friend, sang the soprano line, as he had always previously done, Hofer, Mozart's brother-in-law, took the tenor,...
by Barry Barnitz
Sun Jan 01, 2017 9:49 pm
Forum: Forum Issues and Administration
Topic: Bogleheads is back!
Replies: 21
Views: 4752

Re: Bogleheads is back!

There was a technical error involved the database server, the message I saw indicated that disk space was full (more here ), so the forum software wasn't functioning. The web server software was still responding to requests, so any tool that checked if the website was up or down would have conclude...
by Barry Barnitz
Fri Dec 30, 2016 1:25 pm
Forum: Investing - Theory, News & General
Topic: Brokers Make You Broker - an interactive chart complements of Rick Van Ness
Replies: 9
Views: 1580

Re: Brokers Make You Broker - an interactive chart complements of Rick Van Ness

Does Rick Van Ness "post" on the board? If so, what is his "handle"? Speaking of Rick Van Ness, does ANYONE know if there is a list or a way to search for all Boglehead Authors' " handles " or " usernames" so I or anyone else can search for their comments and...
by Barry Barnitz
Wed Dec 21, 2016 3:03 pm
Forum: Investing - Help with Personal Investments
Topic: Managing my mother's portfolio
Replies: 16
Views: 2183

Re: Managing my mother's portfolio

Here is the link to this firm's mutual fund and etf page: Mutual Fund | Janney | ETF . Try and find the account holdings. Note that the mutual fund list consists of load-funds. Your Financial Advisor can help you research and select top-quality mutual funds, based on Janney's proprietary research an...
by Barry Barnitz
Wed Dec 21, 2016 1:17 pm
Forum: Investing - Theory, News & General
Topic: Financial Page: major revision to the Simba backtesting spreadsheet
Replies: 8
Views: 962

Re: Financial Page: major revision to the Simba backtesting spreadsheet

Hi: Note that I can use the help of contributors (this is one of the key goals of the project). From May to September my work week expands to 75 to 80 hours a week , and during this time my limited available bogleheads.org time is split between wiki administration, blog administration, and occasiona...
by Barry Barnitz
Wed Nov 16, 2016 1:52 pm
Forum: Investing - Theory, News & General
Topic: "Jack Bogle and the Presidential Medal of Freedom"
Replies: 24
Views: 3459

Re: "Jack Bogle and the Presidential Medal of Freedom"

triceratop wrote:Update: didn't happen.

Instead: Movie stars, artists, and tech tycoons...


Link--->President Obama Names Recipients of the Presidential Medal of Freedom | whitehouse.gov

regards.
by Barry Barnitz
Sat Nov 05, 2016 3:17 pm
Forum: Personal Consumer Issues
Topic: Vanguard's Website - Bad, or just me?
Replies: 48
Views: 6394

Re: Vanguard's Website - Bad, or just me?

Hi; Vanguard is returning to Philadelphia, with a scheduled 2017 opening of a new "Innovation Center". See news release, Vanguard returns to Philadelphia, starting with a staff of 20 ,Erin Arvedlund, Philly.com, November 2, 2016. After a hiatus of more than 15 years, Vanguard, the $3.8 tri...
by Barry Barnitz
Sun Oct 30, 2016 5:32 pm
Forum: Investing - Theory, News & General
Topic: Impact of fleeing index investors on Index Mutual Funds: studies?
Replies: 32
Views: 3137

Re: Impact of fleeing index investors on Index Mutual Funds: studies?

HI: Recent article from etf.com. ----> Dave Nadig's Deep Dive On New ETF Liquidity Rules There are two groups that have an immediate problem. The first is ETFs that invest in less liquid securities. Funds that invest primarily in high-yield debt or bank loans may be able to argue that they can unloa...
by Barry Barnitz
Fri Oct 28, 2016 10:56 pm
Forum: Forum Issues and Administration
Topic: [Where can I find this site's administration and ownership info?]
Replies: 17
Views: 2579

Re: Wiki Home Page [The wiki as this site's home page]

pondering wrote:Is there a good up to date link that describes the site, its ownership and the administration?


The information is piecemeal:

The team : This link appears at the bottom of the phpbb forum page

Forum policies: from the header

Wiki administrators from wiki special pages- Users

regards,
by Barry Barnitz
Fri Oct 28, 2016 12:18 pm
Forum: Forum Issues and Administration
Topic: Wiki Home Page [The wiki as this site's home page]
Replies: 29
Views: 2785

Re: Wiki Home Page

Hi:

Our Canadian confreres arrived at the following solution for the Financial Wisdom Forum:

Financial Wisdom Forum – Where investors meet for financial education and empowerment.

regards,
by Barry Barnitz
Sun Oct 23, 2016 8:55 pm
Forum: Investing - Help with Personal Investments
Topic: Life Strategy 60% - could they move away from Index Funds
Replies: 16
Views: 2518

Re: Life Strategy 60% - could they move away from Index Funds

For all: Different tax regimes are a complicated and confusing situation. Here is a cut and paste from our UK wiki article: Taxes Some of the tax management strategies mentioned in The Bogleheads Guide to Investing and other US literature have no relevance to UK investors. UK funds do not pass capit...
by Barry Barnitz
Sun Oct 23, 2016 4:20 am
Forum: Investing - Help with Personal Investments
Topic: Life Strategy 60% - could they move away from Index Funds
Replies: 16
Views: 2518

Re: Life Strategy 60% - could they move away from Index Funds

Hi andrewmc36: You might find the following wiki page to be of some help in your situation: UK investing - Bogleheads . The raison d'etre for having income and accumulating versions of the portfolios revolves around tax issues. We have posters on this forum who reside in the UK and Europe who are fa...
by Barry Barnitz
Sat Oct 22, 2016 3:58 pm
Forum: Investing - Help with Personal Investments
Topic: Life Strategy 60% - could they move away from Index Funds
Replies: 16
Views: 2518

Re: Life Strategy 60% - could they move away from Index Funds

Hi: We need clarification of which fund which is being discussed. Is it the LifeStrategy® 60% Equity Fund - Income (GBP) (or perhaps the accumulation version of the fund LifeStrategy® 60% Equity Fund - Accumulation (GBP)? Link to LifeStrategy funds---> Vanguard Asset Management, Limited - ETFs and i...
by Barry Barnitz
Sat Oct 22, 2016 3:41 am
Forum: Investing - Theory, News & General
Topic: VTRIX (Vanguard International Value) history?
Replies: 13
Views: 2103

Re: VTRIX (Vanguard International Value) history?

Hi: The Vanguard Variable Annuity offers an international stock subaccount that mirrors the Vanguard International Growth Fund. Both subaccount and fund are managed by Schroder Investment Management North America Inc. and Baillie Gifford Overseas Ltd. The portfolio managers of both funds are Simon W...
by Barry Barnitz
Fri Oct 21, 2016 4:42 am
Forum: Investing - Theory, News & General
Topic: How the Internet Destroyed Actively Managed Funds
Replies: 24
Views: 3003

Re: Michael Kitces, "How the Internet Destroyed Actively Managed Mutual Funds"

Michael Kitces, "How the Internet Destroyed Actively Managed Mutual Funds" Nah, the internet may have helped a bit, but it was the Bogleheads. Paul Hi Paul: A nice jest. Actual data points to this site's favorite villains. Link---> Vanguard Sways Financial Advisers to Bring $1 Trillion on...
by Barry Barnitz
Sat Oct 08, 2016 5:36 am
Forum: Investing - Theory, News & General
Topic: BlackRock Cuts Prices on ETFs
Replies: 62
Views: 6224

Re: BlackRock Cuts Prices on ETFs

HI: Keep in mind that an exchange-traded fund has negligible internal trading costs due to the manner in which the fund transacts the portfolio through baskets of securities. Inflows and outflows are handled by in-kind transactions. Institutional investors tendering a creation basket (inflows into t...