Tag Archives: active funds
Mid- and Small-Cap Fund Managers Lost Their Advantage – SPIVA U.S. Mid-Year 2021 Scorecard
The SPIVA® U.S. Mid-Year Scorecard continues to show that active funds’ strong absolute returns do not always translate into relative success compared with their benchmarks. In 15 out of 18 categories of domestic equity funds, the majority of actively managed funds underperformed their benchmarks. Over the 12-month period ending June 30, 2021, 58% of large-cap…
- Categories Equities
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- Equities
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Using Index Data to Inform Investment Strategies
S&P DJI’s Tim Edwards explores how financial advisors can use index data, human behavior, and SPIVA® results to inform allocations and better understand assumptions about active fund performance.
- Categories Equities
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- Equities
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SPIVA® U.S. Mid-Year 2019 Highlights
The SPIVA U.S. Mid-Year 2019 Scorecard was published recently. The report shows that the strong rally in the domestic equities market in the first half of 2019 did not necessarily translate into success for active managers. Active managers’ performance relative to the benchmark indices showed significant discrepancies in different market segments. For the one-year period…
- Categories Equities, Fixed Income
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- Equities, Fixed Income
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Size Matters for Active Large-Cap Fund Performance
Over the 15-year period ending March 31, 2019, the biggest 25% of active large-cap equity funds managed about 90% of all the assets under management (AUM) held in active large-cap equity funds. This may suggest that investors’ fund selections skew toward larger funds. But is bigger always better? This topic has been widely debated: although…
- Categories Equities
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- Equities
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The S&P 500 Equal Weight Index: A Supplementary Benchmark for Large-Cap Managers’ Performance Evaluation? – Part II
In a prior blog, we demonstrated that the S&P 500® Equal Weight Index was a more difficult benchmark to outperform than the S&P 500 over intermediate- to long-term investment horizons. In this blog post, we examine the underlying factor exposures of the S&P 500 Equal Weight Index to evaluate the performance of large-cap managers. As…
- Categories Equities, Factors, S&P 500 & DJIA
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- Equities, Factors, S&P 500 & DJIA
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The S&P 500 Equal Weight Index: A Supplementary Benchmark for Large-Cap Managers’ Performance – Part I
In January 2003, S&P Dow Jones Indices introduced the world’s first equal-weighted index, the S&P 500® Equal Weight Index, leading the way for the subsequent development of non-market-cap weighted indices.[1] Since then, looking at the index’s historical back-tested performance, it outperformed its market-cap-weighted counterpart, the S&P 500, in 16 out of 28 years, with an…
- Categories Equities, S&P 500 & DJIA
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- Equities, S&P 500 & DJIA
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Performance Analysis of Liquidated Funds in Brazil
Since 2015, S&P Dow Jones Indices has been reporting on the performance of actively managed equity funds in Brazil through the S&P Indices Versus Active (SPIVA®) Latin America Scorecard. Aside from the performance of the funds, we observed that a significant number of Brazilian equity funds have liquidated or merged within the past five years….
- Categories Equities
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- Equities
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How Did Australian Active Funds Perform in 2017?
The SPIVA® Australia Scorecard reports on the performance of actively managed Australian mutual funds against their respective benchmark indices over various investment horizons. In the year-end 2017 report, we extended the analysis to 15 years. In 2017, the majority of Australian funds in most categories underperformed their respective benchmarks, apart from the Australian A-REIT category….
- Categories Equities, Fixed Income
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- Equities, Fixed Income
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Timeline of Percentage of Active Funds That Underperformed Their Benchmarks
The active versus passive debate has been a continuous subject of discussion in the evolving asset management industry. S&P Dow Jones Indices launched the first SPIVA India scorecard in 2013 to provide a barometer on this subject. The Indian market has witnessed significant growth (albeit from a small base) in passive investment products that offer…
SPIVA® Europe Mid-Year 2016: Performance of Active Managers Has Been Disappointing This Year
European equity markets fared poorly over the one-year period ending June 30, 2016, with the S&P Europe 350® decreasing 10.47%. This underwhelming performance was brought on by heightened volatility following the U.K.’s vote to exit the European Union, as well as the negative interest rate policy in Europe. Normally, these conditions might be considered ideal…
- Categories S&P 500 & DJIA
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- S&P 500 & DJIA
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