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Strategies & Market Trends : Ultra OTC Fund - UOPIX -- Ignore unavailable to you. Want to Upgrade?

To: John who wrote (1114)	1/4/2001 2:19:49 PM
From: Bernie Goldberg	Read Replies (1) \| Respond to of 2063

Hi John, Had to do some surfing on the net to get what I hope is an answer to your question. The following is copied from page 5 of the UltraOTC prospectus: Annual Operating Expenses-INVESTOR CLASS Shares(percentage of average daily net assets) Management fees 0.70% Other expenses 0.63% Total annual operating expenses 1.33% Granted there are no brokerage fees, but on a $10,000 investment that will cost you $133 per year whether you trade or not. If the investment should double that will raise the annual fee to $266 per year. That is for buy and hold with absolutely no transactions. The following is from the Nasdaq web site: QQQ Distribution History (Dividends, if any, paid quarterly, capital gains paid annually) 1999 2000 YTD Ord. Income $ 0.00 $ 0.00 Cap. Gains $ 0.00 $ 0.00 Totals $ 0.00 $ 0.00 Trust Details Expense Ratio: 0.18% Ticker Symbol: QQQ Trading Increment: 1/64th ($0.015625) Min Trade Size: 1 Share Marginable: Yes Short Selling Allowed: Yes, uptick exempt Options Traded: Yes, American Style Trustee: Bank of New York Sponsor: Nasdaq Investment Products Services Inc. Distributor: ALPS Mutual Funds Inc. Quick Facts Net Assets: $25,137,337,500 Shares Outstanding: 402,600,000 Dividend Yield: 0% 52 Week High: $120.5 52 Week Low: $ You will notice that the expense ratio is 0.18% which amounts to $18 vs $133. That will take care of 10 trades a year with Waterhouse. Also notice: Distribution History (Dividends, if any, paid quarterly, capital gains paid annually) 1999 2000 YTD Ord. Income $ 0.00 $ 0.00 Cap. Gains $ 0.00 $ 0.00 Totals $ 0.00 $ 0.00 QQQ has been in existence since 1999. As and Electronicallly Traded Index Fund, even with the lousy year 2000 was there were no distributions to pay taxes on. I am going to assume that you had more shares at year end than you had of UOPIX at the beginning of the year. Each one of them represents a $3.54 gain which you will have to pay taxes on. Hope this helps Bernie in Gunnison. 20°F