S&P 500 ‘No Dividend’ Fund launching in July - No withholding tax impact. New option for Singapore investors going forward

"The fund, XDIV, will sell holdings just before dividend dates and rotate into other S&P 500 ETFs to avoid taxable income, appealing to tax-aware investors" This will be a viable S&P500 alternative for Singapore investors that is even better than Ireland domiciled UCITS ETFs due to no tax drag at all. TL;DR is that the ETF holds other S&P500 ETFs and will sell holdings in one before dividends are paid and rotate into another ETF that has a different dividend date. Potential upsides are reduced commissions (LSE/EBS commissions are higher than US exchanges), avoiding the 15/30% WHT drag on total returns, reduced tracking errors as it holds a basket of S&P500 ETFs. Potential downsides are any drag from the reallocation, possible liquidity especially in the initial stages and tracking errors since it tracks other ETFs instead of the underlying 500 companies directly. Also, estate tax if you die while holding this versus Ireland domiciled UCITS. I will likely take a position upon launch to closely track its performance against the established ETFs. DYODD but consider keeping this on the radar. Might turn out to be a gem, might be a dud.