Past-performance comparisons show that indices continue to outperform the majority of active funds. In the past three years, the S&P 500 has outperformed 69.4% of large-cap funds, the S&P MidCap 400 has outperformed 69.1% of mid-cap funds, and the S&P SmallCap 600 has outperformed small-cap funds by 71.1%. And for the five-year period, the S&P 500 has outperformed 63.6% of large-cap funds, the S&P MidCap 400 has beat 77.5% of mid-cap funds, and the S&P SmallCap 600 has outdone 75.% of small-cap
Srikant Dash, an index strategist at Standard and Poor's, said, "Over longer time horizons, we continue to observe indices outperforming a majority of active funds across most style boxes. We typically see indices beating at least 60% of active managers over five-year horizons."