Managed Account Select: Strategies

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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
  • 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
    No

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