China Region 1.965 0.356 2.321 12/4 12/7 55.23 4.20% REVISED ...
[Pages:3]November 30, 2020
REVISED 2020 Estimated Year-End Distributions REVISED
Fidelity updated their year-end capital gains estimates. Some new funds are now expected to pay while others have changed the amount of their payout, so please check your funds again.
Through Nov 30, the S&P 500 and Dow Industrials have 5 -year average annual returns of 14%; the Nasdaq Composite easily tops that at nearly 21%. As such, some funds have on their balance sheets unrealized gains from a combination of appreciated shares, dividends and/or interest.
When realized gains in a fund exceed its realized losses, they must eventually be distributed to the fund's shareholders -- typically at year-end. Should you own such shares in a taxable account (and only in a taxable account), you must pay taxes on some combination of short- and long-term capital gains, and on qualified and non-qualified dividends. These payouts will be distributed this coming December.
Below are estimates of capital gains only (that is all Fidelity has released). If your fund is not listed, Fidelity has not provided an estimate.
To reiterate, fund distributions are a non-event when held in
tax-deferred accounts such as an IRA or 401(k). Moreover, you can never make money from "buying" a distribution because the fund's NAV declines by the same amount as the distribution itself.
However, if in the next few weeks you're looking to buy a fund that's going ex-dividend, you should probably wait until after the payout. Our rule of thumb on the timing is one week for each percentage point of the estimate.
Consider Select Technology (which is held in our Select Model). Its ex-date is Dec. 18 and its estimated distribution is currently $4.347. That consists of $0.569 in short-term gains and $3.778 in long-term gains. Viewed another way, that's 15% of its NAV as of 11/30 While December 18 is still several weeks away, you should consider postponing the fund's purchase in taxable accounts until after its exdate. On the other hand, many funds will pay less than 2%, so it's really a toss-up as to whether you jump in now or wait.
-- John Bonnanzio
Fund Na me Agricultural Productivity Asset Manager 20% Asset Manager 30% Asset Manager 40% Asset Manager 50% Asset Manager 60% Asset Manager 70% Asset Manager 85% Balanced Blue C hip Growth C A L-T Tax-Free C alifornia Muni Inc C anada C apital & Inc C apital Appreciation C hina Region C onnecticut Muni Inc C ontrafund C onvertible Secs C orporate Bond Disruptive C ommun's Disruptive Finance Disruptive Medicine Disruptive Tech Diversified Int'l Emerging Asia Emerging Mkts Equity Dividend Inc
S hort- Te rm Long- Te rm Ca pita l Ga in Ca pita l Ga in
0.003
0
0.017
0
0.021
0
0.025
0.011
0.057
0.07
0.049
0
0.096
0.144
0.096
0.1
0.042
0.155
0.367
4.279
0
0.017
0.008
0.019
0.179
0.184
0.017
0.068
0.035
3.408
1.965
0.356
0
0.057
0
1.231
0.816
2.315
0
0.003
0.009
0
0.208
0
0.063
0
0.017
0
0
0.443
5.029
5.584
0
0.611
0.034
0.029
Tota l Per S ha re $ 0.003 0.017 0.021 0.036 0.127 0.049
0.24 0.196 0.197 4.646 0.017 0.027 0.363 0.085 3.443 2.321 0.057 1.231 3.131 0.003 0.009 0.208 0.063 0.017 0.443 10.613 0.611 0.063
Ex. Da te 12/11 12/30 12/30 12/30 12/30 12/30 12/30 12/30 12/11 12/18 12/4 12/1 12/4 12/4 12/4 12/4 12/29 12/11 12/29 12/4 12/11 12/11 12/11 12/11 12/4 12/4 12/4 12/29
Pay Da te 12/14 12/31 12/31 12/31 12/31 12/31 12/31 12/31 12/14 12/21 12/7 12/2 12/7 12/7 12/7 12/7 12/30 12/14 12/30 12/7 12/14 12/14 12/14 12/14 12/7 12/7 12/7 12/30
NAV as of 11/ 3 0 14.57 14.39 12.22 13.03 20.45 14.54 25.48 22.78 27.56 158.35 10.89 13.45 53.09 10.55 43.46 55.23 11.96 17.50 40.88 12.95 15.19 14.64 12.11 16.86 45.84 70.57 43.04 24.68
% of NAV as of 11/ 3 0 0.02% 0.12% 0.17% 0.28% 0.62% 0.34% 0.94% 0.86% 0.71% 2.93% 0.16% 0.20% 0.68% 0.81% 7.92% 4.20% 0.48% 7.03% 7.66% 0.02% 0.06% 1.42% 0.52% 0.10% 0.97%
15.04% 1.42% 0.26%
Fund Na me Equity-Inc Extended Mkt Idx Fidelity Fund Focused Stock Four-in-One Idx Global C redit Global Equity Inc Gov't Inc Growth & Inc Growth C ompany Growth Discovery Growth Strategies Independence Inflation-Prot Bond Idx Interm Gov't Inc Interm Treas Bond Idx Intermediate Bond Intermediate Muni Inc Int'l C apital Appreciation Int'l Discovery Investment Grade Bond Japan Japan Smaller C os Large C ap C ore Enh'd Idx Large C ap Growth Enh'd Idx Large C ap Growth Idx Large C ap Stock Limited Term Bond Limited Term Gov't Limited Term Muni Inc Long-Term Treas Bond Idx Low-Priced Stock Magellan Massachusetts Muni Inc Mega C ap Stock Michigan Muni Inc Mid C ap Enh'd Idx Mid C ap Idx Mid-C ap Stock Minnesota Muni Inc Multi-Asset Inc Muni Inc Nasdaq C omposite Idx New Jersey Muni Inc New Markets Income New Millennium New York Muni Inc Ohio Muni Inc OTC Overseas Pacific Basin Pennsylvania Muni Inc Puritan
S hort- Te rm Long- Te rm
Ca pita l Ga in Ca pita l Ga in
0
0.974
0
0.12
0
0.657
0
3.536
0
0.422
0
0.052
0
0.376
0.001
0
0.012
0.163
0
2.666
0.541
1.876
0
3.377
0
0.264
0.064
0
0.009
0
0.062
0.123
0.002
0.006
0
0.01
0
0.228
0.008
1.693
0.004
0.003
0
0.158
0.064
0.046
0.02
0.156
0.018
0.673
0.33
0
0.076
0.359
0.003
0.002
0.034
0
0
0.009
0.094
0.284
0
1.87
0
0.037
0
0.022
0.349
0.025
0
0.037
0
0.454
0.021
0.266
0.037
1.556
0
0.026
0
0.059
0
0.051
0.323
1.196
0
0.057
0.015
0.025
0
2.482
0
0.031
0
0.086
0.013
0.078
0
0.179
0.044
1.779
0
0.002
0.023
0.36
Tota l Per S ha re $ 0.974
0.12 0.657 3.536 0.422 0.052 0.376 0.001 0.175 2.666 2.417 3.377 0.264 0.064 0.009 0.185 0.008
0.01 0.228 1.701 0.007 0.158
0.11 0.176 0.691
0.33 0.435 0.005 0.034 0.009 0.378
1.87 0.037 0.022 0.374 0.037 0.454 0.287 1.593 0.026 0.059 0.051 1.519 0.057
0.04 2.482 0.031 0.086 0.091 0.179 1.823 0.002 0.383
Ex. Da te 12/11 12/11 12/11 12/4 12/30 12/29 12/11 12/4 12/18 12/29 12/18 12/29 12/29 12/23 12/4 12/4 12/4 12/1 12/4 12/4 12/4 12/4 12/4 12/18 12/18 12/18 12/18 12/4 12/29 12/1 12/4 12/11 12/11 12/1 12/11 12/1 12/18 12/18 12/18 12/1 12/18 12/1 12/29 12/29 12/1 12/29 12/1 12/1 12/18 12/4 12/4 12/1 12/11
Pay Da te 12/14 12/14 12/14 12/7 12/31 12/30 12/14 12/7 12/21 12/30 12/21 12/30 12/30 12/24 12/7 12/7 12/7 12/2 12/7 12/7 12/7 12/7 12/7 12/21 12/21 12/21 12/21 12/7 12/30 12/2 12/7 12/14 12/14 12/2 12/14 12/2 12/21 12/21 12/21 12/2 12/21 12/2 12/30 12/30 12/2 12/30 12/2 12/2 12/21 12/7 12/7 12/2 12/14
NAV as of 11/ 3 0 60.83 78.64 61.88 33.60 54.62 10.15 16.86 10.99 42.01 34.47 52.66 61.58 45.44 11.03 10.93 11.92 11.39 10.82 26.67 51.75
8.59 19.58 17.46 18.73 28.00 22.96 34.05 11.96 10.33 10.85 16.51 48.14 12.67 12.63 15.80 12.78 16.85 26.28 36.74 12.17 12.73 13.54 154.09 12.48 14.81 37.77 13.59 12.56 16.70 56.96 43.24 11.53 25.91
% of NAV as of 11/ 3 0 1.60% 0.15% 1.06%
10.52% 0.77% 0.51% 2.23% 0.01% 0.42% 7.73% 4.59% 5.48% 0.58% 0.58% 0.08% 1.55% 0.07% 0.09% 0.85% 3.29% 0.08% 0.81% 0.63% 0.94% 2.47% 1.44% 1.28% 0.04% 0.33% 0.08% 2.29% 3.88% 0.29% 0.17% 2.37% 0.29% 2.69% 1.09% 4.34% 0.21% 0.46% 0.38% 0.99% 0.46% 0.27% 6.57% 0.23% 0.68% 0.54% 0.31% 4.22% 0.02% 1.48%
2 Fidelity Monitor & Insight -- November 2020
Fund Na me Sel Automotive Sel Biotech Sel Brok & Invest Mgmt Sel C ommunication Svcs Sel C omputers Sel C onsumer Discretionary Sel Health C are Sel Insurance Sel IT Svcs Sel Medical Tech and Devices Sel Pharmaceuticals Sel Retailing Sel Semiconductors Sel Software and IT Svcs Sel Tech Sel Telecommunications Sel Wireless Short-Term Bond Short-Term Bond Idx Short-Term Treas Bond Idx Small C ap Discovery Small C ap Growth Small C ap Growth Idx Small C ap Idx Small C ap Value Idx Stock Selor All C ap Stock Selor Small C ap Strategic Dividend & Inc Strategic Inc Sustainability Bond Idx Tax-Free Bond Total Int'l Equity Trend U.S. Bond Idx Worldwide Zero Ext Mkt Idx
S hort- Te rm Long- Te rm Ca pita l Ga in Ca pita l Ga in
0
2.365
0.433
3.397
0
0.542
0
0.95
0
5.257
0
0.715
0.249
2.447
0
1.631
0
2.783
0.054
3.547
0.48
0.735
0
1.553
0
0.403
0.376
0.442
0.569
3.778
0.778
1.182
0
0.191
0.018
0.024
0.007
0.006
0.015
0.013
0
0.325
0.603
0.428
0.049
0.004
0.121
0.265
0.127
0
0.362
2.049
0
0.194
0
0.391
0.036
0.099
0.001
0.009
0
0.021
0.056
0.06
1.463
4.202
0.004
0.01
0.171
2.588
0.03
0.124
Tota l Per S ha re $ 2.365 3.83 0.542 0.95 5.257 0.715 2.696 1.631 2.783 3.601 1.215 1.553 0.403 0.818 4.347 1.96 0.191 0.042 0.013 0.028 0.325 1.031 0.053 0.386 0.127 2.411 0.194 0.391 0.135 0.01 0.021 0.116 5.665 0.014 2.759 0.154
Ex. Da te 12/18 12/18 12/18 12/18 12/18 12/18 12/18 12/18 12/18 12/18 12/18 12/18 12/18 12/18 12/18 12/18 12/18 12/4 12/4 12/4 12/18 12/18 12/18 12/11 12/18 12/30 12/4 12/29 12/18 12/4 12/4 12/4 12/18 12/4 12/4 12/4
Pay Da te 12/21 12/21 12/21 12/21 12/21 12/21 12/21 12/21 12/21 12/21 12/21 12/21 12/21 12/21 12/21 12/21 12/21 12/7 12/7 12/7 12/21 12/21 12/21 12/14 12/21 12/31 12/7 12/30 12/21 12/7 12/7 12/7 12/21 12/7 12/7 12/7
NAV as of 11/ 3 0 50.15 27.47 91.19 80.89 103.48 63.25 33.34 58.12 93.11 73.69 24.64 23.36 16.12 26.44 29.28 71.55 13.42
8.84 10.35 10.85 23.42 32.38 26.03 23.18 20.79 56.73 28.70 16.23 12.88 11.07 12.07 10.87 149.18 12.48 35.35 11.05
% of NAV as of 11/ 3 0 4.72%
13.94% 0.59% 1.17% 5.08% 1.13% 8.09% 2.81% 2.99% 4.89% 4.93% 6.65% 2.50% 3.09%
14.85% 2.74% 1.42% 0.48% 0.13% 0.26% 1.39% 3.18% 0.20% 1.67% 0.61% 4.25% 0.68% 2.41% 1.05% 0.09% 0.17% 1.07% 3.80% 0.11% 7.80% 1.39%
Fidelity Monitor & Insight -- November 2020 3
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