Potential capital-gain exposure gives an idea of an investment's potential tax bite. This figure shows what percentage of a fund's total assets represent capital appreciation, either unrealized or realized. Realized gains represent actual gains achieved by the sale of holdings, on which taxes must be paid. Unrealized appreciation may turn into realized gains at any time if the fund's management decides to sell profitable holdings. Here we show whether a fund can and does hold a variety of complex or illiquid securities, including derivatives.
Percentages held in each category also appear.
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