Vanguard, BlackRock ETF Shuffle Lets Foreign Investors Duck US Tax

Major institutions are flipping between near-identical equity funds to avoid receiving dividends — and the 30% tax that comes with them.

By Zachary R Mider and Denitsa Tsekova · Bloomberg Markets

Major institutions are flipping between near-identical equity funds to avoid receiving dividends — and the 30% tax that comes with them.