Here's a statement of the obvious: The opinions expressed here are those of the participants, not those of the Mutual Fund Observer. We cannot vouch for the accuracy or appropriateness of any of it, though we do encourage civility and good humor.
It's way worse than that. Is the NAV or the market price used? Is it a single price or an average of prices? Is it in a single day, and which day, or an average over multiple days?
From the SPDR S&P 400 ETF (MDY) prospectus:
The total re…
Some funds do not reinvest capital gains (I think both short and long-term) but reinvest dividends.
Example? Perhaps you're thinking of ETFs structured as UITs (e.g. SPY, QQQ). What UITs cannot reinvest are dividends from underlying equities and …
The Capital Group published cap gains estimates for its ETFs along with the rest of its funds, on December 6 (link is from Shadow's post in 2023 capital gains distribution estimates):
https://www.capitalgroup.com/advisor/tax/2023-year-end-distributi…
He starts off with a graph showing the core Consumer Price Index (CPI) and the core personal consumption expenditure (PCE) "deflator". As he explains, the CPI has an extra lag due to its heavier weighting of rent (which is itself a lagging measure…
Super high liquidity, knowing precisely how much cash is in the fund (UIT cash drag can be your friend). Not advantages to the retail investor, but beneficial to large institutions.
https://www.etf.com/sections/features-and-news/why-spy-king-liqu…
M* published a quantitatively-driven analysis for PHEFX
Since the sole manager is a quant analyst, that seems somehow appropriate :-)
(The M* analysis 10% analyst-driven, i.e. the parent "pillar" is written by a human being.)
Because the fund is n…
However, there is a temporary delay with resuming full online services for your policy/contract. We anticipate full online self-service functionality to be available the week of December 18, 2023.
Full online self-service functionality appears to b…
◾you beneficially own shares in the Funds with combined balances of $250,000;
This is similar to the way one can access PRWCX - with at least $250,000 invested at T. Rowe Price. At TRP, that could mean all assets owned through their brokerage, or …
Apparently this was serious enough that TIAA had to file prospectus supplements. They're all pretty much the same; here's the one for its VUL policies:
Filed Pursuant to Rule 497(e)
...
PROSPECTUS SUPPLEMENT NUMBER (7)
Dated November 13, 2023 ...
…
I don't have more expertise or knowledge, but that hasn't stopped me from posting before :-)
This post of mine from another thread may help. I cite a few different sources. Of particular interest is this little item, essentially confirming your …
Short term (1-3 mo) T-bills are still paying at least as much as MMFs.
SWVXX has a current 7 day yield of 5.26%
New issue Treasuries (1,3,6 month) expected yields between 5.28% and 5.34% (from Fidelity)
In taxable accounts they have two advanta…
Schwab seems to waive loads on a variety of fund class A shares where Fidelity still charges a load. I agree this isn't typical, but it isn't uncommon. For example, SHDAX has a load a Fidelity but is offered NTF at Schwab. Likewise BCAAX carri…
There are fund families that count a short term round trip trade as either a buy-then-sell or a sell-then-buy. For example:
If you purchase [T. Rowe Price fund] shares through an intermediary (e.g., a broker/dealer, recordkeeper or other third p…
Professor Snowball wrote an article about PRCFX in the December MFO issue.
https://www.mutualfundobserver.com/2023/12/launch-alert-t-rowe-price-capital-appreciation-income-fund/
A minor nitpick ... Prof. Snowball writes that PRWCX is " (b) closed ti…
What I found odd was not the fees (they're pretty well known) but the claim that the brokerage fee ($49.95) went to the fund family.
Fidelity and Schwab and others get paid percentage fees by fund families (including lesser fees by TF fund famil…
Franklin Templeton Funds
Undated dollars/share range estimates (as opposed to % NAV) for 2023 are presented on the individual fund pages under "Distributions&Tax".
These are significantly different from the cap gains estimate table (in percenta…
Then the managers are eating their own cooking.
But how many mangers own NO shares in the fund they manage? almost all of them.
"It smells". Their cooking smells pretty good to me ...
Aggregate Dollar Range of Securities in the Fund as of Dec 31,…
At what moment? He never said that there would be an imminent collapse, which is what I wrote would have IMHO a hack prediction. Even then, just a hack prediction, not necessarily the writing of a hack. What he demonstrated was that admissions of…
FD1000
For a guy who claims to keep up, you really don't keep up, do you?
https://www.foxnews.com/media/paul-krugman-trump-economy
This is a 2020 article where "Krugman acknowledged that he had "reacted badly" and retracted his prediction three …
Reported by CBS, not according to CBS. It wasn't a CBS analysis.
CBS was reporting a Republican analysis and reporting that the administration had issues with the analysis. IOW, CBS reported two different political analyses.
The analysis, from…
Access has now been down all of November. This has become "service" as usual. The whole stock market was up and running six days after 9/11. It can't possibly be five times as hard to fix this cyberattack on TIAA's third party server or to migr…
Inflation has been the highest since the 80s at about 20% since 01/2020. Did employees get an equal increase to keep up with it? No
"Median usual weekly earnings of full-time wage and salary workers ... quarterly averages, seasonally adjusted"
http…
I can’t argue with the OP’s general conclusion that on average Americans are better off financially than they were prior to the beginning of the pandemic in March 2020. ... Reminds one of the 6’ fella who drowned in a river that was on average 5 fee…
Perhaps you're missing the first paragraph in the cited piece. That first paragraph has a bullet list of five metrics for financial state, all of which are positive.
One of those is family wealth. Cash on hand is just one relatively small par…
This might also be mildly good news for prospective new issue T-bill buyers. If I remember correctly, the expected yield on a 6 month T-bill was 5.42% on Wednesday and 5.45% on Friday.
Unlike new CDs, when you put in an "indication of interest"…
Some more background info:
Intro piece on mREITS, including basic mechanics and risks:
https://money.usnews.com/investing/real-estate-investments/articles/how-to-invest-in-mortgate-reits
[Head of income equities at TCW, Iman] Brivanlou says: "Divid…
I'm a bit wary when 'enhanced', 'strategic', or 'dynamic' are included in a fund's name
Marketing aside, what do you really think about the funds?
Are enhanced index funds genuinely enhanced?
Link
Rather than (or in addition to) reading a summary,…
They are quantitatively "enhanced" index funds, though Fidelity dropped the "index" part of the name for the ETF versions.
Fidelity converted its International Enhanced Index Fund FIENX, its Large Cap Core Enhanced Index Fund FLCEX, its Large Cap G…
A deductible is the amount you have to pay before any insurance kicks in. The highest deductible a Part D plan is allowed to have is $545; some may have lower deductibles.
https://www.medicare.gov/drug-coverage-part-d/costs-for-medicare-drug-c…
Traditional Medicare lets me sleep nights and I have to chase down no eligible doctors and hospitals.
There are some (an admittedly small number) of providers who have opted out of Medicare entirely. In this sense, Medicare too has a network, it's…
What would be covered under "Equity"?
I don't pretend to know what IBKR has in mind. However, generally speaking equity means an ownership interest regardless of the form of ownership. It is broader than stock ownership, i.e. owning shares of a…
There are a few Medigap plans that offer additional benefits, like dental, vision, and hearing. I think I read somewhere that these amount to 5% of Medigap plans, but the fraction may not be even that high and I don't know how to find such plans e…
Regular account trades are routed under "payments for order flows" and that is how they distinguish the Pro account commissions.
Fidelity doesn't get payment for order flow on equity trades (it does on commodities).
Neither does Merrill. And t…
I tried to use their mutual fund search tool and asked the tool to give me all the US equity funds. I received a "There are 0 results." I am sure they offer more than 0 US equity mutual funds but could they make their website a little bit more frien…
Clients may earn interest on positive settled cash balances.
Accounts with a Net Asset Value (NAV) of USD 100,000 (or equivalent) or more are paid interest at the full rate for which they are eligible. Accounts with NAV of less than USD 100,000 (or…
As one of the affected users :-( I can assure you that that message is not for naught. My account still reads "At the close of business on November 1, 2023 ..."
I'm glad it works for you and for others, and perhaps for 99% of TIAA users. Really …
This is a problem accessing an actual TIAA investment product. As you said, that's much more serious. This is not merely trying to get info via TIAA on some product held elsewhere, such as Fidelity.
I have no problem accessing info about a frie…
I could and can log in fine. However, as the message says upon logging in, "current account values are unavailable". No change.
This problem is product-specific (note the wording "one of our vendors"). I have been able to get investment info …
Don't know about its estimated distributions, but SSgA's S&P 500 fund (SVSPX) carries a 12b-1 fee that rounds to 6 basis points (total ER of 16 basis points):
The Fund has adopted a distribution plan under Rule 12b-1 pursuant to which payments o…
FPACX currently has 91 equity holdings, per M*.
The predecessor ETF has a concentrated portfolio, "typically a 20-50 position common equity portfolio", according to its fact sheet. Its daily holdings are here:
https://fpag.fpa.com/#holdings
I…
