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The Journal of Portfolio Management

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Is Your Alpha Big Enough to Cover Its Taxes? A Quarter-Century Retrospective

Rob Arnott, Vitali Kalesnik and Trevor Schuesler
The Journal of Portfolio Management Spring 2018, 44 (5) 78-102; DOI: https://doi.org/10.3905/jpm.2018.44.5.078
Rob Arnott
is chairman and chief executive officer at Research Affiliates, LLC in Newport Beach, CA
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Vitali Kalesnik
is director, head of equity research, at Research Affiliates, LLC in Newport Beach, CA
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Trevor Schuesler
is vice president, client strategies, at Research Affiliates, LLC in Newport Beach, CA
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Article Information

vol. 44 no. 5 78-102
DOI 
https://doi.org/10.3905/jpm.2018.44.5.078

Published By 
Pageant Media Ltd
Print ISSN 
0095-4918
Online ISSN 
2168-8656
History 
  • Published online April 30, 2018.

Copyright & Usage 
© 2018 Pageant Media Ltd

Author Information

  1. Rob Arnott
    1. is chairman and chief executive officer at Research Affiliates, LLC in Newport Beach, CA. (arnott{at}rallc.com)
  2. Vitali Kalesnik
    1. is director, head of equity research, at Research Affiliates, LLC in Newport Beach, CA. (kalesnik{at}rallc.com)
  3. Trevor Schuesler
    1. is vice president, client strategies, at Research Affiliates, LLC in Newport Beach, CA. (schuesler{at}rallc.com)
  1. To order reprints of this article, please contact David Rowe at drowe{at}iijournals.com or 212-224-3045.
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The Journal of Portfolio Management: 44 (5)
The Journal of Portfolio Management
Vol. 44, Issue 5
Spring 2018
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Is Your Alpha Big Enough to Cover Its Taxes? A Quarter-Century Retrospective
Rob Arnott, Vitali Kalesnik, Trevor Schuesler
The Journal of Portfolio Management Apr 2018, 44 (5) 78-102; DOI: 10.3905/jpm.2018.44.5.078

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Is Your Alpha Big Enough to Cover Its Taxes? A Quarter-Century Retrospective
Rob Arnott, Vitali Kalesnik, Trevor Schuesler
The Journal of Portfolio Management Apr 2018, 44 (5) 78-102; DOI: 10.3905/jpm.2018.44.5.078
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  • Article
    • Abstract
    • WHAT’S NEW SINCE 1993? AND WHAT’S UNCHANGED?
    • WHERE TO LOOK FOR AFTER-TAX ALPHA?
    • DATA
    • FUND RETURN TYPES
    • FINDING TAX-EFFICIENT ACTIVE MANAGERS
    • THE ROLE OF TRADITIONAL PASSIVE STRATEGIES, SMART BETA, ETFS, AND BEYOND IN IMPROVING AFTER-TAX ALPHA
    • CONCLUSION
    • Appendix A
    • APPENDIX B
    • APPENDIX C
    • ENDNOTES
    • REFERENCES
  • Info & Metrics
  • PDF (Subscribers Only)
  • PDF (Subscribers Only)

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