{"id":11959,"date":"2015-11-19T22:58:40","date_gmt":"2015-11-20T06:58:40","guid":{"rendered":"http:\/\/www.jinmei.org\/blog\/?p=11959"},"modified":"2015-11-20T22:24:23","modified_gmt":"2015-11-21T06:24:23","slug":"etf%e2%86%92mutual-fund%e3%81%a8wash-sale","status":"publish","type":"post","link":"https:\/\/www.jinmei.org\/blog\/2015\/11\/19\/11959","title":{"rendered":"ETF\u2192mutual fund\u3068wash sale"},"content":{"rendered":"<p><a href=\"http:\/\/www.jinmei.org\/blog\/2015\/11\/18\/11942\">1\u3064\u524d\u306e\u8a18\u4e8b<\/a>\u3067\u306f\u3001\u5206\u914d\u91d1\u518d\u6295\u8cc7\u304c\u4e0d\u4fbf\u3068\u3044\u3046ETF\u306e\u6b20\u70b9\u3092\u88dc\u3046\u3068\u3044\u3046\u89b3\u70b9\u304b\u3089\u3001ETF\u306e\u5206\u914d\u91d1\u3092\u81ea\u52d5\u518d\u6295\u8cc7\u3059\u308bDRIP\u5236\u5ea6\u306b\u3064\u3044\u3066\u66f8\u3044\u305f\u3002\u4e00\u65b9\u3001\u305d\u306e\u8a18\u4e8b\u3067\u3082\u89e6\u308c\u305f\u3088\u3046\u306b\u3001ETF\u3092\u901a\u5e38\u306e\u6295\u8cc7\u4fe1\u8a17((traditional) mutual fund, TMF)\u306b\u8ee2\u63db\u3059\u308b\u3053\u3068\u3067\u3001ETF\u306e\u6b20\u70b9\u3092\u629c\u672c\u7684\u306b\u89e3\u6d88\u3059\u308b\u3068\u3044\u3046\u8003\u3048\u3082\u3042\u308a\u5f97\u308b\u3002\u3053\u306e\u8a18\u4e8b\u3067\u306f\u3001\u3053\u3046\u3057\u305f\u8ee2\u63db\u306b\u3064\u3044\u3066\u306e\u3061\u3087\u3063\u3068\u3057\u305f\u8a73\u7d30\u3068\u3001wash sale\u3068\u306e\u95a2\u9023\u306b\u3064\u3044\u3066\u306e\u7b46\u8005\u306e\u6700\u8fd1\u306e\u5b66\u7fd2\u7d50\u679c\u3092\u307e\u3068\u3081\u305f\u3082\u306e\u3067\u3042\u308b\u3002<br \/>\n<!--more--><br \/>\n\u7b46\u8005\u306e\u5834\u5408\u3001\u5177\u4f53\u7684\u306b\u306f\u3001\u65b0\u8208\u56fd\u306e\u682a\u5f0fETF\u3067\u3042\u308b<a href=\"https:\/\/personal.vanguard.com\/us\/funds\/snapshot?FundId=0964&#038;FundIntExt=INT\">VWO<\/a>(\u8ab2\u7a0e\u53e3\u5ea7\u3067\u4fdd\u6709)\u3092\u5bfe\u5fdc\u3059\u308bAdmiral class\u306eTMF\u3067\u3042\u308b<a href=\"https:\/\/personal.vanguard.com\/us\/funds\/snapshot?FundId=5533&#038;FundIntExt=INT\">VEMAX<\/a>\u306b\u8ee2\u63db\u3059\u308b\u3053\u3068\u3092\u691c\u8a0e\u3057\u3066\u3044\u305f(\u306a\u304a\u3001Investor class\u306eTMF\u3067\u3042\u308bVEIEX\u3060\u3068expense ratio\u304c\u304b\u306a\u308a\u5272\u9ad8\u306a\u306e\u3067\u3001DRIP\u3082\u4f7f\u3048\u308b\u3068\u306a\u308c\u3070\u308f\u3056\u308f\u3056\u8ee2\u63db\u3059\u308b\u5fc5\u8981\u306f\u306a\u3044\u3060\u308d\u3046)\u3002\u3053\u306e\u8ee2\u63db\u3092\u5b9f\u73fe\u3059\u308b\u3082\u3063\u3068\u3082\u7c21\u5358\u306a\u65b9\u6cd5\u306f\u3001ETF\u306e\u4e00\u90e8\u307e\u305f\u306f\u5168\u90e8\u3092\u58f2\u3063\u3066\u3001\u3059\u3050\u306b\u540c\u984d\u306eVEMAX\u3092\u8cb7\u3046\u3053\u3068\u3060\u308d\u3046(\u3061\u306a\u307f\u306b\u3001Vanguard\u306e\u5834\u5408\u3001(\u307b\u3068\u3093\u3069\u306e\u5834\u5408)TMF\u304b\u3089ETF\u3078\u306e\u8ee2\u63db\u306f<a href=\"https:\/\/investor.vanguard.com\/etf\/faqs\">\u900f\u904e\u7684<\/a>\u3001\u3064\u307e\u308a\u58f2\u8cb7\u306b\u3088\u308b\u7a0e\u91d1\u3092\u767a\u751f\u3055\u305b\u305a\u306b\u5b9f\u884c\u3067\u304d\u308b)\u3002<\/p>\n<p>\u3053\u3053\u3067\u307e\u305a\u554f\u984c\u306b\u306a\u308b\u306e\u306f\u3001\u3053\u306e\u3088\u3046\u306a\u58f2\u8cb7(\u306b\u304a\u3051\u308b\u58f2\u5374)\u306f<a href=\"https:\/\/www.irs.gov\/publications\/p550\/ch04.html#en_US_2014_publink100010601\">wash sale<\/a>\u306b\u306a\u308b\u306e\u304b\u3068\u3044\u3046\u3053\u3068\u3067\u3042\u308b(\u3061\u306a\u307f\u306b\u7b46\u8005\u306e\u4fdd\u6709\u3059\u308bVWO\u306f\u5927\u90e8\u5206\u306elot\u304c\u5024\u4e0b\u304c\u308a\u3057\u3066\u3044\u3066\u5e73\u5747\u3067\u3082\u30de\u30a4\u30ca\u30b9\u306a\u306e\u3067\u3001\u3044\u307e\u58f2\u5374\u3059\u308c\u3070\u30ed\u30b9\u306b\u306a\u308b)\u3002\u3053\u308c\u304c\u4e00\u7b4b\u7e04\u3067\u306f\u3044\u304b\u306a\u3044\u554f\u984c\u3060\u3063\u305f(\u30a2\u30e1\u30ea\u30ab\u306e\u5834\u5408\u3001\u7a0e\u91d1\u304c\u95a2\u4fc2\u3059\u308b\u8a71\u306f\u4e00\u7b4b\u7e04\u3067\u306f\u3044\u304b\u306a\u3044\u3053\u3068\u306e\u65b9\u304c\u666e\u901a\u3060\u304c)\u3002<\/p>\n<p>\u4e0a\u306elink\u3067\u3082\u6319\u3052\u305fIRS\u306e\u8cc7\u6599(Pub 550)\u306b\u3088\u308c\u3070\u3001\u8a72\u5f53\u8a3c\u5238\u306e\u58f2\u5374\u306e\u524d\u5f8c30\u65e5\u306e\u671f\u9593\u306b&#8221;(substantially) identical&#8221;\u306a\u8a3c\u5238\u3092\u8cb7\u3046\u3053\u3068\u304cwash sale\u3068\u307f\u306a\u3055\u308c\u308b\u8981\u4ef6\u3067\u3042\u308b\u3002\u3068\u3053\u308d\u304c\u3001\u3053\u306e&#8221;substantially identical&#8221;\u304c\u5177\u4f53\u7684\u306b\u4f55\u3092\u610f\u5473\u3057\u3066\u3044\u308b\u306e\u304b\u304c\u3001\u3068\u304f\u306bmutual fund\u3084ETF\u306e\u5834\u5408\u3067\u306f\u307b\u3068\u3093\u3069\u898f\u5b9a\u3055\u308c\u3066\u3044\u306a\u3044\u3089\u3057\u3044\u3002Vanguard\u306eFAQ\u3067\u306f\u3001Vanguard\u306emutual fund\u3068ETF\u306e\u9055\u3044\u306b\u3064\u3044\u3066\u3001&#8221;many characteristics\u2014like the fund&#8217;s objective, holdings, and management\u2014are identical&#8221;\u3068\u307e\u3067\u66f8\u304b\u308c\u3066\u3044\u308b\u306e\u3067\u3001\u4e00\u898b\u3059\u308b\u3068IRS\u7684\u306b\u3082&#8221;substantially identical&#8221;\u3068\u8003\u3048\u308b\u306e\u304c\u81ea\u7136\u306a\u3088\u3046\u306b\u601d\u308f\u308c\u308b\u3002\u3057\u304b\u3057\u3001<a href=\"https:\/\/www.fidelity.com\/learning-center\/investment-products\/etf\/tax-rules-for-losses-etfs\">Fidelity\u306e\u8aac\u660e<\/a>\u306b\u306f\u3001<\/p>\n<blockquote><p>\nIt could also be argued that a sale of mutual fund shares at a loss, followed by the purchase of an ETF that is similar to the mutual fund, is outside the wash sale ban.\n<\/p><\/blockquote>\n<p>\u306a\u3069\u3068\u3042\u308a\u3001mutual fund\u3068ETF\u306e\u76f8\u4e92\u58f2\u8cb7\u306fwash sale\u306e\u5bfe\u8c61\u5916\u3068\u306a\u308b\u3088\u3046\u306b\u3082\u8aad\u3081\u308b(&#8220;could be&#8221;\u3068\u304b&#8221;similar&#8221;\u3068\u304b\u3044\u3063\u305f\u3042\u305f\u308a\u306b\u66d6\u6627\u3055\u304c\u3042\u308b\u306e\u3082\u6c17\u6301\u3061\u60aa\u3044\u304c)\u3002<\/p>\n<p>\u7d50\u5c40\u3001\u3044\u308d\u3044\u308d\u8abf\u3079\u3066\u307f\u3066\u3082\u5224\u7136\u3068\u3057\u306a\u304b\u3063\u305f\u306e\u3060\u304c\u3001\u4e00\u756a\u53c2\u8003\u306b\u306a\u308a\u305d\u3046\u3068\u601d\u3063\u305f\u306e\u306f<a href=\"https:\/\/www.kitces.com\/blog\/the-wash-sale-problem-when-tax-loss-harvesting-almost-substantially-identical-mutual-funds-and-etfs\/\">\u3068\u3042\u308bblog\u8a18\u4e8b<\/a>\u3060\u3063\u305f\u3002\u3053\u306e\u8a18\u4e8b\u3067\u306f\u3001\u58f2\u8cb7\u3059\u308b2\u3064\u306e\u9298\u67c4\u306e\u5024\u52d5\u304d\u306e\u76f8\u95a2\u304c\u3042\u308b\u7a0b\u5ea6\u9ad8\u3051\u308c\u3070wash sale\u304c\u6210\u308a\u7acb\u3064\u3068\u8003\u3048\u308b\u306e\u304c\u5b89\u5168\u3060\u3068\u3057\u3066\u3044\u308b\u3002VWO\u3068VEMAX\u306e\u76f8\u95a2\u307e\u3067\u5177\u4f53\u7684\u306b\u8abf\u3079\u3066\u306f\u3044\u306a\u3044\u306e\u3060\u304c\u3001\u666e\u901a\u306b\u8003\u3048\u308c\u3070\u307b\u3068\u3093\u30691\u306b\u8fd1\u3044\u304f\u3089\u3044\u9ad8\u3044\u3060\u308d\u3046\u304b\u3089\u3001\u3084\u306f\u308a\u3053\u308c\u3089\u306e\u76f8\u4e92\u58f2\u8cb7\u306fwash sale\u306b\u5f15\u3063\u304b\u304b\u308b\u3068\u8003\u3048\u308b\u306e\u304c\u5b89\u5168\u3060\u308d\u3046\u3002<\/p>\n<p>\u305f\u3060\u3057\u3001\u7b46\u8005\u306e\u5834\u5408\u3001\u3053\u306e\u58f2\u5374\u306b\u3088\u3063\u3066<a href=\"https:\/\/www.bogleheads.org\/wiki\/Tax_loss_harvesting\">tax loss harvesting<\/a>\u3092\u72d9\u3063\u3066\u3044\u308b\u308f\u3051\u3067\u306f\u306a\u3044\u306e\u3067\u3001wash sale\u6271\u3044\u306b\u306a\u308b\u3053\u3068\u81ea\u4f53\u306f\u5b9f\u306f\u554f\u984c\u306a\u3044\u3002Wash sale\u306e\u305b\u3044\u3067\u7533\u544a\u3067\u304d\u306a\u304b\u3063\u305f\u30ed\u30b9\u306f\u3001\u7d50\u5c40\u5bfe\u8c61\u3068\u306a\u308b\u8cfc\u5165\u8a3c\u5238\u306ebasis\u306b\u8db3\u3055\u308c\u3066\u76f8\u6bba\u3055\u308c\u308b\u306e\u3067\u3001\u7a0e\u91d1\u4e0a\u306e\u52b9\u679c\u306f\u5b9f\u8cea\u7684\u306b\u306f\u307e\u3063\u305f\u304f\u58f2\u8cb7\u3057\u306a\u304b\u3063\u305f\u306e\u3068\u540c\u7b49\u3060\u304b\u3089\u3067\u3042\u308b\u3002<\/p>\n<p>Wash sale\u3068\u8003\u3048\u308b\u306e\u306f\u3044\u3044\u3068\u3057\u3066\u3001\u305d\u306e\u6b21\u306e\u554f\u984c\u306f\u3001\u5177\u4f53\u7684\u306b\u3069\u306e\u3088\u3046\u306b\u300cbasis\u306b\u8db3\u3057\u3066\u76f8\u6bba\u300d\u3059\u308c\u3070\u3044\u3044\u306e\u304b\u304c\u3088\u304f\u308f\u304b\u3089\u306a\u3044\u3068\u3044\u3046\u3053\u3068\u3067\u3042\u308b\u3002\u640d\u5931\u306e\u5408\u8a08\u3092\u65b0\u898f\u8cfc\u5165\u306eTMF\u306ebasis\u3068\u3057\u3066\u5747\u7b49\u306b\u8db3\u3059\u3068\u3044\u3046\u3088\u3046\u306a\u5358\u7d14\u306a\u65b9\u6cd5\u3067\u3088\u3051\u308c\u3070\u7c21\u5358\u306a\u306e\u3060\u304c\u3001IRS Pub 550\u306e\u8a18\u8ff0\u304b\u3089\u3059\u308b\u3068\u3001\u307e\u3063\u305f\u304f\u540c\u9298\u67c4\u306e\u682a\u5f0f\u3092\u58f2\u8cb7\u3057\u305f\u5834\u5408\u306e\u3088\u3046\u306b\u3001\u58f2\u5374\u3057\u305f1\u682a(\u53e3)\u304c\u8cfc\u5165\u3057\u305f1\u682a(\u53e3)\u306b\u5bfe\u5fdc\u3059\u308b\u3053\u3068\u3092\u524d\u63d0\u3068\u3055\u308c\u3066\u3044\u308b\u3088\u3046\u306b\u601d\u308f\u308c\u308b\u3002mutual fund\u3068ETF\u306e\u9593\u306b\u306f\u901a\u5e38\u305d\u306e\u3088\u3046\u306a\u95a2\u4fc2\u306f\u306a\u3044\u306e\u3067\u3001\u58f2\u5374\u3057\u305fETF n\u682a\u304c\u8cfc\u5165\u3057\u305fTMF\u306e\u4f55\u53e3\u306b\u76f8\u5f53\u3059\u308b\u306e\u304b\u306f(\u5c11\u306a\u304f\u3068\u3082\u4e00\u822c\u306e\u500b\u4eba\u306b\u306f)\u308f\u304b\u3089\u306a\u3044\u3002<\/p>\n<p>\u3068\u3044\u3046\u3053\u3068\u3067\u3001Vanguard\u306b\u76f4\u63a5\u554f\u3044\u5408\u308f\u305b\u3066\u307f\u305f\u306e\u3060\u304c\u3001Vanguard\u304c\u3084\u3063\u3066\u304f\u308c\u308b\u306e\u306f\u540c\u4e00\u30a2\u30ab\u30a6\u30f3\u30c8\u5185\u306e\u540c\u4e00\u8a3c\u5238\u306e\u58f2\u8cb7\u306b\u4f34\u3046wash sale\u306e\u4fa1\u683c\u8abf\u6574\u306e\u307f\u3068\u306e\u3053\u3068\u3060\u3063\u305f(\u3053\u3053\u3067\u3044\u3046\u300c\u540c\u4e00\u8a3c\u5238\u300d\u306f\u3001\u3088\u308a\u6b63\u78ba\u306b\u306f\u540c\u3058<a href=\"http:\/\/www.sec.gov\/answers\/cusip.htm\">CUSIP\u756a\u53f7<\/a>\u306e\u8a3c\u5238\u3067\u3001VWO\u3068VEMAX\u3067\u306f\u7570\u306a\u308b)\u3002\u500b\u4eba\u3067\u3082\u4f55\u3089\u304b\u306e\u57fa\u6e96\u306b\u57fa\u3065\u3044\u3066basis\u306e\u8abf\u6574\u3092\u8a08\u7b97\u3059\u308b\u3053\u3068\u306f\u53ef\u80fd\u304b\u3082\u3057\u308c\u306a\u3044\u304c\u3001Vanguard\u306e\u53e3\u5ea7\u3067\u7ba1\u7406\u3055\u308c\u3066\u3044\u308b\u3082\u306e\u3068\u9055\u3046basis\u3092\u81ea\u5206\u3067\u7ba1\u7406\u3059\u308b\u306e\u306f\u9762\u5012\u3060\u3057\u3042\u3068\u3042\u3068\u9593\u9055\u3044\u3084\u30c8\u30e9\u30d6\u30eb\u306e\u5143\u306b\u306a\u308a\u305d\u3046\u3067\u3001\u305d\u3053\u307e\u3067\u3057\u3066TMF\u306b\u8ee2\u63db\u3059\u308b\u307b\u3069\u306e\u5229\u70b9\u3082\u306a\u3055\u305d\u3046\u3067\u3042\u308b\u3002Wash 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