Subject: Hate Divs? There’s an ETF for you
Wall Street’s latest tax dodge doesn’t hide in the Cayman Islands or rely on complex derivatives. It’s engineered to turn a publicly traded fund into a tax-minimizing machine that hums quietly on autopilot.

While dividends have long been a defining feature of stock investing — a sign of corporate discipline and investor reward — Roundhill Investments plans to launch the S&P 500 No Dividend Target exchange-traded fund on July 10 with the ticker XDIV. Its ambition is simple but strategic: track the performance of the famous benchmark while dodging its payouts. The fund will sell holdings just before their dividend dates — steering income away from ETF shareholders and, in the process, away from their tax bills.

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