Managed Account Select: Strategies

Managed accounts vs. mutual funds and ETFs
While mutual funds, exchange-traded funds (ETFs), and separately managed accounts each offer professional management and a wide range of investment strategies, there are distinct differences. Consider your unique circumstances and financial needs to determine which option best suits you.
- Mutual funds
- ETFs
- Separately managed accounts
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Allows ownership of underlying securities>
Mutual funds
No>ETFs
No>Separately managed accounts
Yes>-
Allows daily transparency into portfolio holdings and transactions>
Mutual funds
No>ETFs
Usually>Separately managed accounts
Yes>-
Allows tax-loss harvesting of underlying securities>
Mutual funds
No>ETFs
No>Separately managed accounts
Yes1>-
Allows customization of portfolio contents>
Mutual funds
No>ETFs
No>Separately managed accounts
Yes2>-
Allows portability of underlying holdings>
Mutual funds
No>ETFs
No>Separately managed accounts
Yes>-
Allows potential for unwanted capital gains distributions>
Mutual funds
Yes>ETFs
Rarely>Separately managed accounts
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