The money in my IRA I do not consider risk capital; I want to preserve this equity even at the risk of much diminshed returns. I have my gambling account, and my IRA is not it. It's parked in a very boring bond fund that isn't doing much of anything. Which is just the way I likes it. Why doesn't some big smart investment house figure out a way to transfer a bunch of their tax liability to a specific instrument that I can buy in my IRA? Meaning let's say Associated Investment Bankers made a bunch of money this year and they owe a ton in short term cap gains. Why can't they transfer that cap gains tax over to something like their "IRA1" fund? Let me take the full brunt of the tax, which I don't have to pay, and for my trouble I get a tidy little return. I buy a share for $100 and hold it for a year. At tax time, they dispurse $9 per share but it comes with a pass-through cap gains tax of $10. If I held this fund in a street account, I would be net -$1 for the year. But in a tax-free account, that $10 cap gains get stripped away and I just keep the $9 per share dispersement.