Through the first nine months of this year, Standard & Poor's has found that 55.8% of actively managed large-cap funds have outperformed the S&P 500. But mid- and small-cap funds have not fared so well, with only 27.9% of mid-cap funds besting the S&P MidCap 400 index and 27.7% of small-cap funds trouncing the S&P SmallCap 600.

Past-performance comparisons show that indices continue to outperform the majority of active funds.

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