94% of US Fund Managers underperform S&P 500 over 20 years
The latest Standard & Poors (SPIVA) 2021 indexing study, has once again exposed active fund managers – delivering a fresh blow for US stock pickers. Active fund managers continue to lose sizable market share against their index (passive) competitors. Over the past 10 years, 83% of fund managers fell short of their S&P 500 benchmark, with 94% failing over 20 years. Similarly, 91% and 94% did not match up to the S&P Midcap 400 or the S&P Small Cap 600 respectively – during this 20-year period (ending June 30, 2021).