Alpha Architect 最近向 SEC 提出了一些新 ETF 的申请 其中包括了 Alpha Architect US Anti-Dividend [AAUS] Alpha Architect Intl. Anti-Dividend [AAGL] Prospectus: https://tinyurl.com/4466e5dn === For AAUS: 「 The Fund will seek to achieve broad diversification to U.S. equity markets while avoiding dividend payments from its portfolio holdings. The Fund seeks to take advantage of proprietary research that suggests that stocks scheduled to pay a dividend should be avoided just prior to the dividend distribution and for at least 30 days after the dividend distribution. The proprietary research further indicates that the demand for dividend-paying stocks prior to the dividend distribution is too high (thus driving stock prices above a company’s fundamentals) and the demand for dividend paying stocks after distribution is too low (thus driving stock prices below a company’s fundamentals). 」 「 The Sub-Adviser will generally monitor the Fund’s portfolio holdings at least weekly and will look to replace stocks expected to pay a dividend in the immediate future. When such replacement trades occur, the additional capital will be reallocated across the Fund’s remaining holdings that are not expected to pay a dividend in the near future. The Sub-Adviser may also replace the portfolio holding with an investment in targeted or broad market ETFs, or through investments in options that provide exposure to the broad U.S. market. In addition, the Sub-Adviser will look to buy back the sold security approximately 30 to 45 days after the dividend distribution. Investors seeking income should not invest in this Fund. This process seeks to outperform the broad U.S. market, while having a secondary effect of potentially reducing year-end distributions. 」 === 简单说，ETF会在持股配息前把持股卖掉，在30~45天内买回来。 (Edit: 被卖掉持股的资金，会被分配给其他没配息的持股，或买大盘。) 对於不喜欢领股息想操作弃息的人 现在有基金经理人直接帮你处理 或许是个有趣的产品 AAUS 管理费预计 0.15% AAGL 管理费预计 0.25% 不过这些产品才刚送SEC，何时会上市还是未知数。 -- So stand by your glasses steady, Here’s good luck to the man in the sky, Here’s a toast to the dead already, Three cheers for the next man to die. --

※ 发信站: 批踢踢实业坊(ptt.cc), 来自: 114.39.42.116 (台湾) ※ 文章网址: https://webptt.com/cn.aspx?n=bbs/Foreign_Inv/M.1723856335.A.CEA.html ※ 编辑: daze (114.39.42.116 台湾), 08/17/2024 09:19:29 我如果真的买这支，着眼点大概是在税务优势 这支产品会把配息前卖掉持股的资金 分配给其他最近没有配息的持股，或买大盘 并没有离开市场30-45天的问题 ※ 编辑: daze (114.39.42.116 台湾), 08/17/2024 09:39:17