Index funds

Not only are the portfolios similar, but performance is nearly identical, writes Bloomberg’s Aaron Brown.

Aside from their rock-bottom fees, those with the largest gains have at least one commonality: asset allocation.

If Biden’s proposal is enacted, Nir Kaissar writes many investors will dump their funds to avoid paying a higher tax down the road.

The 20 funds in this ranking shed more than $793 billion over the period.

The firm has been locked in a contest with runner-up Vanguard for flows, with the latter winning last year for the first time since 2013.

Here are the industry’s top 20, which brought in more than $700 billion in assets.

Over the past year, the lineup of stock and bond funds notched an average gain of more than 25%.

The skewed allocations “may significantly change fund performance and use case suitability until rebalance dates,” analysts say.

The new fund, expected to begin trading next quarter, will carry an expense ratio of less than half the new actively managed offering.

For investors, Biden represents an attitude shift from the era of Trump, who famously made the Dow a barometer of his success.