Good question Madeline. Most Aussies buy the ASX-listed version for simplicity because of the potential tax complications as you pointed out and have probably read/heard about.

As for selling, that’s a personal choice depending on whether it bothers you and potentially how much tax is owing if you sold. One idea is to keep holding for now and when there’s a downturn sell then to minimise capital gains tax, then buying the equivalent ASX-listed fund. It wouldn’t really be a ‘problem’ to leave the US listed fund just sitting there in the background though, since you perhaps won’t end up meeting the ‘estate tax’ issue (which applies if one has assets over $13m or something!).