Ranking Mutual Funds on an After-Tax Basis

56 Pages Posted: 28 Jun 2004 Last revised: 19 Jul 2010

See all articles by Joel M. Dickson

Joel M. Dickson

Stanford University

John B. Shoven

Stanford University - Department of Economics; National Bureau of Economic Research (NBER)

Date Written: July 1993

Abstract

This paper takes shareholder level taxes into account in determining the performance of growth and growth and income mutual funds over the 1963-1992 period. It ranks a sample of funds on a before and after-tax basis for investors in different income classes facing various investment horizons. The differences between the relative ranking of funds on a before and after-tax basis are dramatic. especially for middle and high income investors. For instance. one fund which ranks in the 19th percentile on a pre-tax basis ranks in the 61st percentile for an upper income. taxable investor.

Suggested Citation

Dickson, Joel M. and Shoven, John B., Ranking Mutual Funds on an After-Tax Basis (July 1993). NBER Working Paper No. w4393, Available at SSRN: https://ssrn.com/abstract=420300

Joel M. Dickson

Stanford University

Stanford, CA 94305
United States

John B. Shoven (Contact Author)

Stanford University - Department of Economics ( email )

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Stanford, CA 94305-6072
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National Bureau of Economic Research (NBER)

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