抗通膨債卷 TIPS ( Treasury inflation-protected securities )

TIPS與一般債卷最大的不同的是它的本金會隨著消費者物價指數 ConsumerPrice Index (CPI)調整,當CPI顯示有通膨的現象時,TIPS持有人每半年收到的利息會升高(利率不變,但本金提高),是一個有抗通膨機制的債卷,所以它的殖利率不需要補償通膨,它的殖利率就是債卷持有人希望得到的真正收益

所以把T-bond和TIPS的殖利率的差值當作市場對通膨的預期,投資人若買了T-bond,未來通膨低於市場預期,T-bond的收益會高於TIPS,反之TIPS收益會高於T-bond

ETF投資組合

股市

美國股市:
Vanguard Total Stock Market ETF (VTI): 追蹤 CRSP US Total Market Index. (mega, large, small and micro capitalizations, representing nearly 100% of the U.S. investable equity market) , 簡單說就是投資全美股市,前十大持股佔資產比例 15.4%  ((TD commission free))

歐洲股市:

Vanguard FTSE Europe ETF (VGK):   追蹤FTSE Developed Europe All Cap Index, (Holds stocks of companies located in Austria, Belgium, Denmark, Finland, France, Germany, Greece, Ireland, Italy,  the Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, and the United Kingdom.), 投資歐洲主要國家各大市值的股票,最大持股是雀巢,前十大持股佔資產比例18.2%  ((TD commission free))

亞太已開發地區股市:

Vanguard FTSE Pacific ETF (VPL): 追蹤 FTSE Developed Asia Pacific All Cap Index,投資日本,澳洲,南韓,香港,新加坡等,太平洋已開發國家股票兩千多支,最大持股是Samsung,前十大持股佔資產比例14%

新興市場股市:

Van)guard FTSE Emerging Markets ETF (VWO): 追蹤FTSE Emerging Markets All Cap China A Transition Index (Invests in stocks of companies located in emerging markets around the world, such as China, Brazil, Taiwan, and South Africa,投資發展中國家各大市值的股票約4000支,坐大持股是台積電,前十大持股佔資產比例16.8%  

((TD commission free))

債卷

美國公債
 BLV  Vanguard Long-Term Bond ETF Long-Term Bond   (TD commission free)
 BND Vanguard Total Bond Market ETF Intermediate-Term Bond (TD commission free)
 BSV  Vanguard Short-Term Bond ETF (TD commission free)

美國以外公債

BNDX Vanguard Total International Bond ETF (BNDX)

保留盈餘 (Retained Earnings)

Retained earnings refer to the percentage of net earnings not paid out as dividends, but retained by the company to be reinvested in its core business, or to pay debt. It is recorded under shareholders' equity on the balance sheet.

擠出效應 (Crowding Out Effect)

擠出效應是指增加政府投資對私人投資產生的擠占效應，從而導致增加政府投資所增加的國民收入可能因為私人投資減少而被全部或部分地抵消。

資本利得(Capital Gain)

What is 'Capital Gain'

Capital gain is an increase in the value of a capital asset (investment or real estate) that gives it a higher worth than the purchase price. The gain is not realized until the asset is sold. A capital gain may be short term (one year or less) or long term (more than one year) and must be claimed on income taxes. A capital loss is incurred when there is a decrease in the capital asset value compared to an asset's purchase price.

2. Profit that results when the price of a security held by a mutual fund rises above its purchase price and the security is sold (realized gain). If the security continues to be held, the gain is unrealized. A capital loss would occur when the opposite takes place.

非美國公民也非綠卡持有人(non-resident alien)的投資稅務

The tax implications for a foreign investor will depend on whether that person is classified as a resident alien or a non-resident alien. To be considered a non-resident alien, a person must meet several guidelines. First of all, the person cannot have had a green card at any time during the relevant tax reporting period (e.g 2005) and cannot have resided in the U.S. for more than 183 days in the past three years, including the current reporting period. However, non-U.S. citizens who hold green cards and have been in the U.S. for more than 183 days are classified as resident aliens for tax purposes and are subject to different guidelines than non-resident aliens.

ETF 代號與其追蹤指數組成

挑選時要注意資產不要過度集中單一股票或市場,資產總額有不要太低,會有資金不足的風險

Vanguard(先鋒)

Vanguard Total Stock Market ETF (VTI): 追蹤 CRSP US Total Market Index. (mega, large, small and micro capitalizations, representing nearly 100% of the U.S. investable equity market) , 簡單說就是投資全美股市,前十大持股佔資產比例 15.4%

Vanguard FTSE Europe ETF (VGK):   追蹤FTSE Developed Europe All Cap Index, (Holds stocks of companies located in Austria, Belgium, Denmark, Finland, France, Germany, Greece, Ireland, Italy,  the Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, and the United Kingdom.), 投資歐洲主要國家各大市值的股票,最大持股是雀巢,前十大持股佔資產比例18.2%

Vanguard FTSE Emerging Markets ETF (VWO): 追蹤FTSE Emerging Markets All Cap China A Transition Index (Invests in stocks of companies located in emerging markets around the world, such as China, Brazil, Taiwan, and South Africa),投資發展中國家各大市值的股票約4000支,坐大持股是台積電,前十大持股佔資產比例16.8%

Vanguard FTSE Pacific ETF (VPL): 追蹤 FTSE Developed Asia Pacific All Cap Index,投資日本,澳洲,南韓,香港,新加坡等,太平洋已開發國家股票兩千多支,最大持股是Samsung,前十大持股佔資產比例14%

Vanguard Total International Stock ETF (VXUS): 追蹤FTSE Global All Cap ex US Index,投資除了美國以外的全球股票六千支,最大投資國家為日本與英國,最大持股為雀巢,前十大持股佔資產比例為8.3%

	44.00%	Europe
	29.80%	Pacific
	0.50%	Middle East
	7.00%	North America

Fidelity