I regretfully announce that 3 ETFs all issued by SSgA will be giving their investors capital gains this year.
- S&P Pharmaceuticals ETF (NYSE Arca: XPH)
- Lehman Aggregate Bond ETF (NYSE Arca: LAG)
- Lehman 1-3 Month T-Bill ETF (NYSE Arca: BIL)
What this means
ETFs are known for their tax advantages over mutual funds who often give investors unwanted taxable capital gains at the end of the year. What drives many out of these funds if getting hit with capital gains and big loses. This capital gains issue represents a big mismanagement by SSgA and they should be scolded since they are a leader in the industry.
Read a full article about it here