SmartETF

Active Funds Not Better In A Bear Market

Has anybody studied S&P's data to see if their active manager database actually includes closet indeexers? A recent study from Yale (over a 23 year time frame) showed only 27.5% of managers are true active managers. I bet if you could extract the closet indexers from the list it would dramatically change the results in favor of the active manager. Also, are we discussing active managers or market timers, not the same thing to me. Lastly, how have they done this year?