Index Funds Win Across Borders
Thanks to Standard and Poor’s Indices Versus Active (SPIVA) scorecard, investors are becoming ever-more aware both of the persistent underperformance of the vast majority of actively managed funds as well the lack of evidence showing any persistence among the minority of winners beyond the randomly expected. This increasing awareness has led to an inexorable trend in which passively managed funds are gaining market share, albeit at a snail’s pace.
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