f/fundlab/taxsplit_results.json
Greg Pomerantz 9458e316cb Price-appreciation vs payout split (fundlab/taxsplit.py)
Follow-up to the tax-location plan: the taxplan score only measured
DISTRIBUTION character. The user rightly noted that NAV appreciation
is also a capital gain (LTCG on a >1y sale). The fund price files
carry both series - Close = raw NAV with distributions paid out,
Adj Close = total return reinvested - so the split is computable
directly per fund (5y window + most-recent-12m payout).

Findings:
- ACCUMULATORS (>=50% of 5y return is price appreciation) get a new
  location "TAXABLE (accrues)": MBXIX 76% (0% payout 12m), ATESX 66%,
  LAMHX 62%, CVSIX 61%, candidate PBAIX 60% (0% payout 12m). For
  these the taxable account's LTCG-on-sale benefit is the dominant
  tax event.
- PAY-OUT funds: HMEZX (99% of return distributed - the STCG merger-
  arb case), MERVX, COSIX, PMORX, SVARX, SCFZX, DMSZX, munis, credit.
  IRA placement stands.
- Data artifacts caught: JLPSX/QSPNX one-time NAV gap events ~2022
  (special distribution or reorg) skew the 5y payout average; the
  12m payout column reflects current behavior. QCMMRX (MMF) series
  is not NAV-based - flagged.

App: tax-location expander gains 5y price / 5y payout / 12m payout
columns and the "TAXABLE (accrues)" filter. RESEARCH.md documents
the capital-loss question: registered RICs cannot distribute net
capital losses; the usable benefit is the fund's internal harvest
reserve (low capital-gain distributions after up-years), which needs
N-CSR/1099 history to verify. 97/32 suites green.
2026-08-27 14:34:42 -04:00

2868 lines
52 KiB
JSON

{
"shortlist": {
"ATESX": {
"yrs": 5.63,
"tot": 0.2816,
"price": 0.1786,
"tot_a": 0.0451,
"price_a": 0.0296,
"payout_a": 0.0154,
"payout_12m": 0.0,
"appr_share": 0.657
},
"ATRFX": {
"yrs": 5.63,
"tot": 0.475,
"price": 0.1622,
"tot_a": 0.0715,
"price_a": 0.0271,
"payout_a": 0.0445,
"payout_12m": 0.0038,
"appr_share": 0.379
},
"COSIX": {
"yrs": 5.63,
"tot": 0.1211,
"price": -0.1361,
"tot_a": 0.0205,
"price_a": -0.0257,
"payout_a": 0.0462,
"payout_12m": 0.0505,
"appr_share": -1.25
},
"CVSIX": {
"yrs": 5.63,
"tot": 0.3009,
"price": 0.1766,
"tot_a": 0.0479,
"price_a": 0.0293,
"payout_a": 0.0185,
"payout_12m": 0.0153,
"appr_share": 0.613
},
"EAGMX": {
"yrs": 5.63,
"tot": 0.3893,
"price": 0.0353,
"tot_a": 0.0602,
"price_a": 0.0062,
"payout_a": 0.054,
"payout_12m": 0.0697,
"appr_share": 0.103
},
"EGRSX": {
"yrs": 5.63,
"tot": 0.5946,
"price": 0.2351,
"tot_a": 0.0865,
"price_a": 0.0382,
"payout_a": 0.0482,
"payout_12m": 0.0747,
"appr_share": 0.442
},
"JLPSX": {
"yrs": 5.63,
"tot": 1.2353,
"price": 0.0831,
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"price_a": 0.0143,
"payout_a": 0.1392,
"payout_12m": 0.0329,
"appr_share": 0.093
},
"LAMHX": {
"yrs": 5.63,
"tot": 1.0391,
"price": 0.5686,
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"price_a": 0.0832,
"payout_a": 0.0516,
"payout_12m": 0.0584,
"appr_share": 0.617
},
"MBXIX": {
"yrs": 5.63,
"tot": 0.6941,
"price": 0.4966,
"tot_a": 0.0982,
"price_a": 0.0743,
"payout_a": 0.0239,
"payout_12m": 0.0,
"appr_share": 0.756
},
"PMAIX": {
"yrs": 5.63,
"tot": 0.7861,
"price": 0.2657,
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"price_a": 0.0428,
"payout_a": 0.0658,
"payout_12m": 0.0718,
"appr_share": 0.394
},
"PMFKX": {
"yrs": 5.63,
"tot": 0.8071,
"price": 0.2613,
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"price_a": 0.0421,
"payout_a": 0.0688,
"payout_12m": 0.0748,
"appr_share": 0.38
},
"PMORX": {
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"tot": 0.3733,
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"payout_12m": 0.0494,
"appr_share": -0.108
},
"QSPNX": {
"yrs": 5.63,
"tot": 1.9707,
"price": 0.5856,
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"appr_share": 0.4
},
"SVARX": {
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"tot": 0.2082,
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"payout_a": 0.0432,
"payout_12m": 0.0595,
"appr_share": -0.265
}
},
"xcheck": {
"AFLIX": {
"yrs": 5.64,
"tot": 0.1916,
"price": -0.0556,
"tot_a": 0.0316,
"price_a": -0.0101,
"payout_a": 0.0417,
"payout_12m": 0.023,
"appr_share": -0.32
},
"AGUAX": {
"yrs": 5.64,
"tot": 0.5966,
"price": -0.0624,
"tot_a": 0.0865,
"price_a": -0.0114,
"payout_a": 0.0979,
"payout_12m": 0.1107,
"appr_share": -0.131
},
"ANGLX": {
"yrs": 5.64,
"tot": 0.1345,
"price": -0.1562,
"tot_a": 0.0226,
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"appr_share": -1.312
},
"BTMIX": {
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"COIAX": {
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"payout_12m": 0.0383,
"appr_share": 0.0
},
"DMSZX": {
"yrs": 5.64,
"tot": 0.3256,
"price": 0.001,
"tot_a": 0.0513,
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"payout_a": 0.0511,
"payout_12m": 0.0498,
"appr_share": 0.003
},
"DULTX": {
"yrs": 5.64,
"tot": 0.1914,
"price": -0.008,
"tot_a": 0.0315,
"price_a": -0.0014,
"payout_a": 0.033,
"payout_12m": 0.0414,
"appr_share": -0.045
},
"EGRIX": {
"yrs": 5.64,
"tot": 0.5966,
"price": 0.242,
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"price_a": 0.0392,
"payout_a": 0.0473,
"payout_12m": 0.0745,
"appr_share": 0.453
},
"ETSIX": {
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"tot": 0.3141,
"price": -0.0707,
"tot_a": 0.0496,
"price_a": -0.0129,
"payout_a": 0.0625,
"payout_12m": 0.0736,
"appr_share": -0.26
},
"FEMDX": {
"yrs": 5.64,
"tot": 0.5196,
"price": 0.209,
"tot_a": 0.077,
"price_a": 0.0342,
"payout_a": 0.0428,
"payout_12m": 0.0717,
"appr_share": 0.444
},
"FHCOX": {
"yrs": 5.56,
"tot": 0.2144,
"price": 0.0,
"tot_a": 0.0355,
"price_a": 0.0,
"payout_a": 0.0355,
"payout_12m": 0.0433,
"appr_share": 0.0
},
"FHMIX": {
"yrs": 5.57,
"tot": 0.1722,
"price": 0.0,
"tot_a": 0.0289,
"price_a": 0.0,
"payout_a": 0.0289,
"payout_12m": 0.0396,
"appr_share": 0.0
},
"HICOX": {
"yrs": 5.64,
"tot": 0.2391,
"price": -0.0451,
"tot_a": 0.0387,
"price_a": -0.0081,
"payout_a": 0.0469,
"payout_12m": 0.0452,
"appr_share": -0.21
},
"HMEZX": {
"yrs": 5.64,
"tot": 0.304,
"price": 0.0015,
"tot_a": 0.0482,
"price_a": 0.0003,
"payout_a": 0.0479,
"payout_12m": 0.0517,
"appr_share": 0.006
},
"LPXAX": {
"yrs": 5.64,
"tot": 0.2168,
"price": -0.056,
"tot_a": 0.0354,
"price_a": -0.0102,
"payout_a": 0.0456,
"payout_12m": 0.0555,
"appr_share": -0.287
},
"MERVX": {
"yrs": 5.64,
"tot": 0.2326,
"price": -0.0452,
"tot_a": 0.0378,
"price_a": -0.0082,
"payout_a": 0.0459,
"payout_12m": 0.0766,
"appr_share": -0.216
},
"QCMMRX": {
"yrs": 5.64,
"tot": 0.1763,
"price": 0.1763,
"tot_a": 0.0292,
"price_a": 0.0292,
"payout_a": 0.0,
"payout_12m": 0.0,
"appr_share": 1.0
},
"RCTIX": {
"yrs": 5.64,
"tot": 0.3063,
"price": -0.0938,
"tot_a": 0.0485,
"price_a": -0.0173,
"payout_a": 0.0658,
"payout_12m": 0.0725,
"appr_share": -0.357
},
"SAFEX": {
"yrs": 5.64,
"tot": 0.1814,
"price": -0.002,
"tot_a": 0.03,
"price_a": -0.0004,
"payout_a": 0.0304,
"payout_12m": 0.0357,
"appr_share": -0.012
},
"SCFZX": {
"yrs": 5.64,
"tot": 0.3696,
"price": 0.024,
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"price_a": 0.0042,
"payout_a": 0.0531,
"payout_12m": 0.0521,
"appr_share": 0.074
},
"USMSX": {
"yrs": 5.64,
"tot": 0.0998,
"price": -0.005,
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"price_a": -0.0009,
"payout_a": 0.0179,
"payout_12m": 0.025,
"appr_share": -0.052
},
"WMNUX": {
"yrs": 5.64,
"tot": 0.3022,
"price": -0.0251,
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"price_a": -0.0045,
"payout_a": 0.0525,
"payout_12m": 0.0191,
"appr_share": -0.094
}
},
"candidates": {
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"yrs": 5.64,
"tot": 0.0708,
"price": -0.1457,
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"price_a": -0.0275,
"payout_a": 0.0397,
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"appr_share": -2.256
},
"ACFIX": {
"yrs": 5.64,
"tot": 0.2237,
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"appr_share": -0.083
},
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"appr_share": -3.574
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},
"AFLIX": {
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},
"AFTEX": {
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},
"AGOVX": {
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"tot": 0.1333,
"price": -0.1178,
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},
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"appr_share": -0.131
},
"AIDAX": {
"yrs": 5.64,
"tot": 0.0633,
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"payout_a": 0.0233,
"payout_12m": 0.0244,
"appr_share": -1.132
},
"ALCAX": {
"yrs": 5.64,
"tot": 0.0567,
"price": -0.0991,
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"payout_a": 0.0282,
"payout_12m": 0.0321,
"appr_share": -1.865
},
"ALGRX": {
"yrs": 5.64,
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"price": 1.188,
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"payout_a": 0.0441,
"payout_12m": 0.091,
"appr_share": 0.772
},
"ALNYX": {
"yrs": 5.64,
"tot": 0.0478,
"price": -0.1019,
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"payout_a": 0.0272,
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"appr_share": -2.271
},
"ALTHX": {
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"tot": 0.045,
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"payout_a": 0.0282,
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},
"AMAAX": {
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},
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},
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},
"ANNPX": {
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},
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},
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},
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},
"BILS": {
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},
"BMBIX": {
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},
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},
"CBHCX": {
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"payout_12m": 0.0301,
"appr_share": -0.162
},
"CFMOX": {
"yrs": 5.64,
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},
"CFNLX": {
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},
"CFRAX": {
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},
"COLTX": {
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},
"CPXAX": {
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},
"CSDAX": {
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},
"CSHIX": {
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},
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"DEFFX": {
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