| iShares
Announces Annual Distributions
By IndexFunds.com Staff
November 20, 2000 |
|
iShares, Inc. released distributions paid to shareholders
as of 8/31/2000 for its country-specific iShares based on MSCI
indexes.
| iShares MSCI fund |
AMEX symbol |
Total distribution per share |
Share price (8/31/2000 close) |
Distribution as percentage of share price |
| Australia |
EWA |
$0.2326 |
$9.9375 |
2.34% |
| Austria |
EWO |
$0.0449 |
$7.75 |
0.58% |
| Belgium |
EWK |
$0.3592 |
$13.25 |
2.71% |
| Brazil |
EWZ |
$0.3639 |
$19.75 |
1.84% |
| Canada |
EWC |
$5.0572 |
$17.00 |
29.75% |
| EMU |
EZU |
$0.0000 |
$76.250 |
0.00% |
| France |
EWQ |
$1.2333 |
$26.50 |
4.65% |
| Germany |
EWG |
$2.5316 |
$20.5625 |
12.31% |
| Hong Kong |
EWH |
$0.2088 |
$13.50 |
1.55% |
| Italy |
EWI |
$2.2267 |
$22.375 |
9.95% |
| Japan |
EWJ |
$0.4514 |
$13.8125 |
3.27% |
| Malaysia |
EWM |
$0.0534 |
$5.9375 |
0.90% |
| Mexico |
EWW |
$0.4234 |
$16.75 |
2.53% |
| Netherlands |
EWN |
$0.2257 |
$23.625 |
0.96% |
| Singapore |
EWS |
$0.1719 |
$7.6875 |
2.24% |
| South Korea |
EWY |
$0.0000 |
$18.75 |
0.00% |
| Spain |
EWP |
$0.9491 |
$24.3125 |
3.90% |
| Sweden |
EWD |
$5.3910 |
$24.625 |
21.89% |
| Switzerland |
EWL |
$0.1572 |
$15.8125 |
0.99% |
| Taiwan |
EWT |
$0.8575 |
$16.875 |
5.08% |
| United Kingdom |
EWU |
$0.9267 |
$18.4375 |
5.03% |
Source: iShares, Inc., the fund company that authorizes
iShares ETFs to be managed
by Barclays Global Fund Advisors, a subsidiary of BGI
Some quick and dirty estimates of capital gains taxes for a hypothetical
investor in iShares can be determined from the above chart. For
example, John Davis, a single man who pays a long-term invested
capital gains rate of 20%, with $10,000 in the iShares MSCI Japan
in January would pay about $65.40 on the $327 distribution. On
the other hand, had John invested $10,000 in the iShares MSCI
Canada, he would pay about $595 in taxes on the $2,975 distribution.
In reality, John would pay slightly more than that because the
small part of the distribution consisting of short-term capital
gains and dividends is taxed as ordinary income.
While in many respects ETFs are inherently more tax-efficient
than traditional mutual funds because of their increasingly specialized
nature, they can occasionally leave investors open to a big tax
hit.
