Ranking Mutual Funds on an After-Tax Basis

Joel M. Dickson and John B. Shoven

No 4393, NBER Working Papers from National Bureau of Economic Research, Inc

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.

JEL-codes: E (search for similar items in EconPapers)
Date: 1993-07
Note: PE CF
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Citations: View citations in EconPapers (5)

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