97% of Mutual Funds Underperform

Twice a year the S&P publishes a report called SPIVA, which is a scorecard to see how mutual funds, aka active portfolio managers, are faring versus their passive index funds. SPOILER ALER: Active management is getting killed. The SPIVA report even controls for other variables such as style drift, survivorship bias, and avoids double counting different share classes of the same fund. This makes SPIVA the most accurate and reliable performance data available in the Active vs. Passive debate.

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How To Diversify An Equity Portfolio

"Help! I need to diversify my equity exposure!" Fortunately, we have lots of data and research to show which asset classes are helpful in adding diversification to a stock portfolio. Here are a few asset classes you may want to look into, and two that are wrongfully assumed to add diversification.

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