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Global X Cash Maximizer Corporate Class ETF (HSAV $116.26)
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Global X High Interest Savings ETF (CASH $50.07)
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Global X 0-3 Month T-Bill ETF (CBIL $50.08)
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NEOS Nasdaq 100 High Income ETF (QQQI $53.89)
Q: Can you suggest 3 mechanisms to "park" cash with safe steady income and good tax efficiency?
5i Research Answer:
Most 'cash' ETFs are not tax-efficience and income is taxed as interest. Our best suggestion would be HSAV. It does not pay distributions but is considered a cash equivalent ETF. Gains are taxed as capital gains. There are some covered call funds that pay out all their income as return of capital (such as QQQI) but these are equity-based and not 'cash' equivalents at all. CASH and CBIL can be suggested as secure parking spots for cash.