Tag Archives: Active vs. Passive
How Indexing Works for Model Portfolios
What’s the role of indices in constructing and evaluating model portfolios? S&P DJI’s Joseph Nelesen and BlackRock’s Elise Terry explore how indexing is changing the landscape for advisors and their clients and helping a range of market participants build and assess models across the asset class spectrum.
- Categories Equities
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SPIVA Japan Scorecard 2023: Misfortune for Japanese Stock Pickers
Since the first publication of the S&P Indices Versus Active (SPIVA®) U.S. Scorecard in 2002, S&P Dow Jones Indices has regularly reported on the relative performance of actively managed funds versus benchmark indices across an increasing number of global fund markets and fund categories.1 The SPIVA Japan Scorecard has been tracking the performance of active…
- Categories Equities
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- Equities
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Turtle Returns: The Hare and the Tortoise
The tale of a footrace between a determined tortoise and a swift but ultimately complacent hare has been with us for a long time. The earliest known version is two and a half thousand years old; it begins with the hare mocking the tortoise’s slow feet, which leads to a challenge and a contest, and…
- Categories Fixed Income
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Diversification, Equity & Indices
The results of S&P DJI’s latest SPIVA U.S. Scorecard are in: Most large-cap active managers underperformed the S&P 500® for the 14th consecutive year in a row. 60% of active large-cap funds underperformed the S&P 500 in 2023, slightly better than the long-term average of 64%, and a relatively benign result considering the dominance of…
Bond Beginnings and Beyond
American political consultant James Carville once commented that he’d like to be resurrected as the bond market because, “you can intimidate everyone.” As of July 2023, the global bond market comprises about USD 135 trillion of securities, of which rated corporate debt represents USD 23 trillion.1 U.S. corporate debt makes up roughly half of the…
- Categories Fixed Income
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- Fixed Income
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Getting to Know the SPIVA After-Tax Scorecard
What do the SPIVA Scorecard results look like once you factor in taxes? Join S&P DJI’s Anu Ganti and Joseph Nelesen for a deep dive into key findings from the inaugural SPIVA After-Tax Scorecard.
- Categories Equities
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- Equities
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Chasing Performance
“…sometimes I’ve believed as many as six impossible things before breakfast.” – The White Queen, Through the Looking Glass Should an asset owner rely on historical performance data to select managers? The efficacy of doing so depends on the answers to three questions: What fraction of the manager universe is truly gifted? How gifted are…
- Categories Equities, S&P 500 & DJIA
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- Equities, S&P 500 & DJIA
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Surveying the Latest SPIVA India Scorecard Results
Were active and fixed income fund managers able to keep up with their benchmarks in the latest SPIVA India Scorecard? Dive into the latest results with S&P DJI’s Bhavna Sadarangani and Benedek Vörös.
- Categories Equities, Fixed Income
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- Equities, Fixed Income
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Finding Fee Savings in Fixed Income
One of the benefits of indexing is its low cost relative to active management. As indexing has grown, investors have benefited substantially by saving on fees and avoiding active underperformance. These benefits are not limited just to equities but have also extended to other asset classes including the fixed income space, where fees can play…
- Categories Fixed Income
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The Magnificent Seven: A Taxing Question
“The Magnificent Seven” term has transcended its cinematic roots to become the collective moniker for a select group of U.S. mega-cap stocks responsible for over 90% of the S&P 500®’s YTD gains to October’s end. Their stellar performance has, naturally, elevated their valuations. It has also increased their already-hefty collective weight in the equity benchmark….
- Categories Equities
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