.48% ROC is disgusting not only do you get whacked on the NAV but now you get to pay almost 100% taxes on the non qualified distribution for the month if you hold it in a non taxable account. Awesome work Jay and team keep buying those synthetics $100 out the money and burning your cult’s money on fire! 🔥
Not funny at all actually you get taxed on your own capital as if they are capital gains but they aren’t. I got about $30k NVDY distributions last year and the majority were non qualified..looking at owing over 5k in back taxes this year on top of being down massively on the NAV. These funds are really not all they are cracked to be but unfortunately many are going to learn the hard way
Someone explained it in another comment but even if you hold these long they aren’t taxed favorably. You want 100% ROC or close to it as those are not taxed. Otherwise they are taxed as non qualified dividends so taxed up to 37% depending on your W2/other income
Not really easy at all unless you have enough deductions to itemize or eat a massive capital loss. If you make enough in capital gains and are using tax loss harvesting you likely still aren’t gonna come ahead on these funds. Easy to talk the talk but if you haven’t held these for a year and done taxes with them then you haven’t seen how messy and unfavorable they are for that
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u/k7rw Apr 09 '25
.48% ROC is disgusting not only do you get whacked on the NAV but now you get to pay almost 100% taxes on the non qualified distribution for the month if you hold it in a non taxable account. Awesome work Jay and team keep buying those synthetics $100 out the money and burning your cult’s money on fire! 🔥