Tag Archives: SPIVA
Measuring the Managers
The measurement of active manager performance versus benchmarks is not new. The earliest study dates back to more than 90 years ago, when Alfred Cowles found that “statistical tests of the best individual records failed to demonstrate that they exhibited skill, and indicated that they more probably were results of chance.”1 Forty years later, by…
- Categories S&P 500 & DJIA
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- Categories
- S&P 500 & DJIA
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SPIVA Special Report: Heroes in Haystacks
Can Hero Funds save portfolios? S&P DJI’s Joe Nelesen takes a closer look at our special SPIVA report examining the performance of multi-asset portfolios of funds versus weighted blends of indices.
- Categories Equities, Fixed Income
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- Categories
- Equities, Fixed Income
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2025: A Market for Stock Pickers in France?
Despite a strong year for global equities in 2025, most active funds in Europe struggled to outperform their benchmarks. According to the latest SPIVA® Europe Year-End 2025 Scorecard, 81.8% of active equity funds lagged their benchmarks over the past year, rising to 97.0% over the 10-year period.1 The France Equity fund category offered a notable…
- Categories Equities
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- Categories
- Equities
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One to Forget: SPIVA Europe U.K. Equity Active Fund Performance in 2025
2025 was full of memorable moments, from tariff tensions and continued AI advancement, to pop stars in space and billionaire weddings. For U.K. active equity funds, however, 2025 may well be a year to forget. Across the three relevant categories measured in the SPIVA Europe Year-End 2025 Scorecard (U.K. Equity, U.K. Large-/Mid-Cap Equity and U.K….
- Categories Equities
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What Do the SPIVA Australia Results Imply for Active Portfolio Construction?
Our latest SPIVA® Australia Scorecard underscored the challenges that Australian active funds faced in converting a favorable stock-picking environment into meaningful results in 2025. Among the 831 active equity funds domiciled in Australia that we examined—spanning global equity, domestic equity and REITs—over two-thirds (570 funds) underperformed their category benchmarks. In contrast, active Australian bond funds…
- Categories Equities, Fixed Income
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The Takaichi Trade: How Dispersion Shaped Japanese Active Funds’ Fortunes
Amid a strong year for global equities in 2025, the latest SPIVA® Japan Scorecard showed that most active funds in Japan struggled to outperform their assigned benchmarks. An interesting finding in the report was the striking difference in relative performance between actively managed Japanese Large-Cap funds and Japanese Mid-/Small-Cap funds. Just 49% of Japanese Large-Cap…
- Categories Equities
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2026 Is the Year of the Stock Picker?
Recent market commentary has declared that 2025 was a brutal year for stock picking, with USD 1 trillion pulled out of active equity mutual funds during the year, according to the Investment Company Institute. The year was characterized by sharp double-digit swings for the S&P 500®, and in such environments filled with bouts of volatility,…
- Categories Equities, S&P 500 & DJIA
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- Categories
- Equities, S&P 500 & DJIA
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SPIVA South Africa: Key Insights and Trends
How can the latest SPIVA Scorecard help inform investors in South Africa? S&P DJI’s Tim Edwards dives into the latest SPIVA results and the trends driving South Africa’s evolving active vs. passive landscape with Asset TV’s Mosidi Modise.
- Categories Equities, Fixed Income
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Fixed Income Funds and Their Fortunes
Global fixed income markets have been buffeted by tariff-related tensions and inflation concerns coupled with monetary policy uncertainty, with many central banks cutting rates, Japan in tightening mode and the U.S. Fed ending its quantitative tightening program. Focusing on the U.S. and Europe, sovereign yield curves in both regions have steepened since late 2024, with…
- Categories Fixed Income
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SPIVA Mid-Year 2025 Results Around the World
For more than 20 years, S&P DJI’s SPIVA® (S&P Indices Versus Active) Scorecards have been evaluating active funds’ performance against their appropriate benchmarks on a biannual basis. The results of our regional SPIVA Scorecards continue to show that active outperformance is rare, especially over the long term.1 Spanning across 11 regions, 54% of all equity…
- Categories Equities
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