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The DIAMONDS Trust, Series 1, is a Unit Investment Trust (UIT) that attempts to mirror the performance of the Dow Jones Industrial Average. However, it offers no guarantee that this objective will be met. The DJIA incurs no expenses, since it represents a mathematical calculation of the stock prices of its components. The DIAMONDS Trust, on the other hand, is a managed portfolio of stocks, which will incur management fees and trading cost. Therefore, the DIAMONDS Trust is expected to return slightly less capital gains than the DJIA over a long period of time. DIAMONDS Trust began trading on January 20, 1998, with an opening price of $77.81. At the end of 2005, it closed at $106.95. By comparison, the Dow Jones Industrial Average opened at 7,753.55 on January 20, 1998, and closed at 10,717.50 at the end of 2005. In that period, the DIAMONDS Trust increased by 37.45%, and the Dow Jones Industrial Average increased by 38.23%. The DIAMONDS Trust distributes a monthly dividend. Annual expenses are deducted from the dividend, and the remaining amount is distributed to shareholders. Listed below are the top 10 Holdings as of 31 March, 2005: Unlike a mutual fund, DIAMONDS Trust is not traded at Net Asset Value (NAV). EXTERNAL LINKS |
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