Morningstar

Investors may be put off by the costs associated with these funds, which had an average expense ratio of more than triple their peers.

The leaders raked in a combined $949 billion over the past decade.

Secretary of Labor Eugene Scalia said retirement plans aren’t for “furthering social goals or policy objectives that are not in the financial interest of the plan.”

Here's how the largest groups have fared during unprecedented market activity.

The funds had posted gains over the past decade, but have suffered losses amid this year's coronavirus-driven volatility.

Still, clients continue to invest their assets into the industry’s cheapest funds and are saving billions as a result.

"It's now June and if you’ve been on a deserted island for the last five months you couldn’t have fathomed the movements we’ve seen," an expert says.

The decade’s top performers also outpaced broader markets over the short term.

The results were “not just predicated on expense ratios,” an expert says.

“Just because someone’s charging 1% doesn’t mean you should take them off your list,” an expert says.

Even some of the industry’s cheapest products “may be overpriced” in that they’re “mirroring a passive index,” an expert says.

Analysis of their performance — and fees — may reveal some surprises.

Firms are spending millions to comply with a controversial rule that is facing a legal challenge while state regulators push their own stringent regulations.

“These funds got an assist from the Fed when they were told they would backstop the higher end of the high-yield credit industry,” an expert says.

“People are just saying, ‘Why should I pay for an active manager when most of them lose to the benchmark anyway?’ This is a big deal,” an expert says.

“I do believe that clients sometimes get too caught up in expense ratios,” an expert says.

“This market environment is a very good one for investors to do a self-awareness check,” an expert says.

“Ideally, you would like clients to try not to make really short-term decisions, however this is an unprecedented situation,” an expert says.

The funds are also some of the lowest-duration products in the market.

Nearly all of your efforts should revolve around your website, showing who you are and why your firm is different, says marketing expert Dan Sondhelm.