744                                                    22

        -
  .

       
 ,      . (  -
   .)     -
  0,20  0,40%     .

,    ,    -
 , ,     ,   -
 ,  .     -
  0,80  1,70%    4.    -
    (operating expense ratio).  , 
    ,     0,85%,   ,
    ,  1,25%5.

   

        -
  (closed-end investment) (  )      -
      .     
      .  , , -
      ,     
 ,          , , -
 IBM.

       . -
  ,        , 
        . -
    ( )   .  
      ,    
            
. ,  ,     $20,  -
   $1  .        $15  ,
  30     $30 (30  $1),    ($30/$15).
     $10,     $30   .

     ,      
     ,      -
.     ,     
 .  ,      (-
,    )       
 .  1940 .     
      .

        -
     10%        -
     .  ,
  ,        -
         .  , 
          , 
 100           10%
    .        -
      .   
     7%    ,   
    .   ,  -
         
6.