6min chapter

Bloomberg Businessweek cover image

Day Two at Schwab Impact in Philadelphia

Bloomberg Businessweek

CHAPTER

Growing Divide Between ETFs and Mutual Funds

This chapter explores the increasing popularity of separately managed accounts (SMAs) as an investment vehicle, comparing its tax efficiency and customization options to ETFs. The speakers also address the transfer of assets from legacy portfolios to more tax-efficient solutions and why SMAs are not yet universally adopted.

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