Over the past 10 to 15 years, according to Morningstar, the worst-performing segment of the active fund market has been the large-cap sector.
"The large-growth category has been particularly difficult for active managers," the report said. "More than 60 percent of the active funds that existed in this category 15 years ago have died, and just 10.7 percent managed to both survive and outperform their average passively managed peer."
The record for pricey active funds was even worse: Less than 5 percent of these funds beat their passive peers over the past decade, Morningstar said.
Which funds have the poorest long-term survival rate? That would be passive large-blend funds, especially those with expensive fees, according to Morningstar. Of the 24 most expensive funds in that group 20 years ago, only seven still survive, the report said.