This topis is an opportunity to discuss and clarify all your questions related to the process of choosing an investment fund, some investment fund options available, and other related questions that can occur.
Are you seeking information, or offering to provide information? Either way, there is already a robust thread on this topic.
The purpose of this topic is to complement and clarify the information of that topic in a more clear way for a better undestandding of the user’s questions. So with this, I’m offering to clarify some investment funds information that you all could need.
Thanks for the clarification.
Can you elaborate on your background please?
If you are a US taxpayer, you must choose a fund that qualifies as a QEF or Mark-to-market fund and that issues PFIC statements.
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Well, you don’t have to. It just depends on how much tax you like paying and how much bookkeeping you want to do. It might be wiser to choose a qualified fund, yes. But there is no legal requirement to do so.
If there were a fund returning 35% p.a. whose only fault was that it wasn’t qualified, I’d sure as hell buy it and do the bookkeeping. 
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Thanks, Jeff. It’s correct that this is not a legal requirement. However, choosing a fund that cannot be marked to market or isn’t a QEf means one has to pay punitive interest to the IRS. This usually means that gains are wiped out.