David Blanchett

Journal Of Indexes

The Pre-Tax Costs Of Portfolio Turnover

The average turnover in mutual funds has increased with time. According to John Bogle (Common Sense on Mutual Funds [2000]), turnover has increased from 30 percent 25 years ago to nearly 90 percent today. Wermers (2000) has similar numbers.

Journal Of Indexes

Building The Best Index

In his study, the author finds a surprise winner in the battle between equal and market-cap weighting.