Google finance says SPY is up about 0.7% today. 0.1% is fairly trivial.<p>I actually stated the opposite on rebalancing - that it happens continually - so I&#x27;m not sure where the confusion lies. Money is continually entering the fund and continually leaving the fund. Perhaps using some numbers will make it clearer what I mean. Lets say you decide to invest $20 in the fund. And I decide I need my $20 so I withdraw it from the fund. And the fund happens to need to sell MSFT to buy RHT today to rebalance. So it sells MSFT for $20, which you get $19.98 of (minus your tax), and I invest $20 which they use to buy RHT of which I get $19.98 (minus my tax).<p>Mind you, I don&#x27;t actually know how this tax is applied for a fund. Is it applied to the fund purchasing shares, or to my deposit in the fund, or to both?! Maybe it&#x27;s like VAT and it just gets passed down to the final buyer?<p>Anyway, I&#x27;m generally a fan of financial transaction tax. I think it should replace all other taxes. The major benefit being that it can&#x27;t be avoided by the most wealthy or by corporations, like most other taxes can.