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https://www.morningstar.com/articles/945008/be-thankful-that-you-dont-compete-against-vanguard[Relative figures]Vanguard wins the risk-adjusted battle, while Dodge & Cox retains its total-return title. Thus, given my preference for total returns as the prime measure of success for nonleveraged portfolios (assuming the same asset class and roughly equal levels of risk), I give Dodge & Cox the overall nod. However, the contest was close. In none of the four cases would the Vanguard buyer have suffered anything more than modest regret.
That time is now. A banner on Schwab's site reads:
USAA recently "sold" their Investment division to Charles Schwab for $1.8 Billion. That's $1,800,000,000 in cash. USAA will transfer $90 Billion in assets to Schwab sometime in May 2020.
Welcome USAA Members. We are so glad you are here!
We are working to transition your accounts this weekend to Schwab. On Tuesday, May 26, you will be a Schwab client. At that time, our professionals will be able to serve you over the phone and you will be able to log in to Schwab.com to access your account. Until then, please visit usaa.com/transitionhub to be guided to create your Schwab login and password or for information about the transition of your accounts to Schwab.
(Ignoring Vanguard's patented mutual fund/ETF structure.)Claymore Advisors announced that the shareholders of Claymore/Raymond James SB-1 Equity Fund (RYJ) have approved the [closed-end] fund’s reorganization into an ETF format.
So, think it is probably a first.To date, no mutual fund has been converted into an ETF. Such a conversion raises regulatory and operational issues, none of which are insurmountable.
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