Tax-efficient equity investing: Solutions for ... - Vanguard

So long as cash flow remains positive, broad-market index and tax-managed mutual funds ... Vanguard Research March 2015 Tax-efficient equity investing: Solutions for maximizing after-tax returns. 1 Sources: Morningstar, Inc., and Vanguard. Average tax cost is calculated based upon Morningstar data for all domestic equity stock funds with 15 ... ................
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