As investors, we care about after $-$ tax returns. As you look across investment options, which of the following is likely to minimize the tax bite $($reduce the gap between pre $-$ tax and after tax returns$)$ on your returns?

Invest with a $10-$year holding period, in index funds

Invest with a $1$ year holding period, in index funds

Invest with a $10-$year holding period, in an actively managed fund

Invest with a $1$ year holding period, in an actively managed fund