“People assume because certain managers have had good streaks that they are always going to be a step ahead of the market,” Russel Kinnel, director of mutual fund research at Morningstar, told Bloomberg. “It never works out that way.”
Among all U.S. large-cap funds, 65.7% trailed their relevant index, the S&P 500, last year, according to research from Standard & Poor’s.
SPDR S&P 500 ETF (NYSEArca: SPY)
