Foreign large-cap blend managers posted the highest 20-year success rate, 39.3 percent, while U.S. mid-cap blend managers posted the lowest, at just 10.5 percent.
When three years of Active/Passive Barometer data were analyzed, Morningstar found that most active fund categories are posting one-year success rates that are trending upwards, with the exception of small-cap blend managers.
All told, the report speaks to consistent improvement among active managers over the past year as investors continue to favor passive, index-based products.
Morningstar’s Active/Passive Barometer evaluates approximately 3,500 active and passive U.S. funds with approximately $10 trillion in assets, encompassing roughly 60 percent of the U.S. fund market.