@techreport{NBERw4393,
 title = "Ranking Mutual Funds on an After-Tax Basis",
 author = "Joel M. Dickson and John B. Shoven",
 institution = "National Bureau of Economic Research",
 type = "Working Paper",
 series = "Working Paper Series",
 number = "4393",
 year = "1993",
 month = "July",
 URL = "http://www.nber.org/papers/w4393",
 abstract = {This paper takes shareholder level taxes into account in determining the performance of growth and growth and income mutual funds over the 1963-1992 period. It ranks a sample of funds on a before and after-tax basis for investors in different income classes facing various investment horizons. The differences between the relative ranking of funds on a before and after-tax basis are dramatic. especially for middle and high income investors. For instance. one fund which ranks in the 19th percentile on a pre-tax basis ranks in the 61st percentile for an upper income. taxable investor.},
}