Study Suggests SPIVA Scorecard Understates Active Fund Performance
A new academic study commissioned by the Investment Adviser Association suggests that the widely used SPIVA scorecard systematically understates active fund performance, potentially misleading investors about how often active managers outperform passive benchmarks. The research highlights flaws in the methodology of S&P Dow Jones Indices' comparison tool and urges a more critical evaluation when choosing between active and passive investment strategies.
Topics: active funds investment research passive funds SPIVA scorecard