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Funds trail S&P 500 by most since 1997

A recent article published on Bloomberg highlights the fact that equity mutual funds had their worst year in 2011 since 1997, relative to the Standard & Poor’s 500 Index.

The DFA Tax-Managed US Equity fund was up 1.18% on the year and, although it underperformed the S&P 500 by less than 1%, it outperformed the S&P 500 by 0.16% per annum over the last five years (and also outperformed 73% of funds). The largest ETF that tracks the S&P 500 was also up 1.18% last year, but has underperformed the Index by 0.19% (per annum) over the past five years and outperformed only 19% of funds.

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