"Active Investing Strategy vs Passive Investing Strategy"

ACTIVE FUNDS UNDERPERFORM THE "MARKET"

According to the SPIVA report, there are relatively few ACTIVE* equity investment fund managers who are able to outperform PASSIVE** funds, over any given time period, either short-term or long-term.

*Active funds are those where the managers buy stocks that they believe will perform the best. **Passive funds are those where the managers buy the shares according to the reference index (such as the S&P 500).

WHAT IS THE SPIVA* REPORT?

Research report published semi-annually by S&P Dow Jones Indices comparing the performance of active equity funds against their respective benchmarks.

*Source: https://www.spglobal.com/spdji/en/research-insights/spiva/
See below the results of mid-2024 edition,except New Zealand.

In Brazil (S&P Brazil LargeCap index, similar to iBovespa):

In the last 12 months:

89.87% of funds underperformed the S&P Brazil BMI.

In the last 3 years:

85.00% of funds underperformed the S&P Brazil BMI.

In the last 5 years:

85.05% of funds underperformed the S&P Brazil BMI.

In the last 10 years:

80.90% of funds underperformed the S&P Brazil BMI.

In the US (S&P 500 index):

In the last 12 months:

57.05% of funds underperformed the S&P 500.

In the last 3 years:

86.08% of funds underperformed the S&P 500.

In the last 5 years:

77.26% of funds underperformed the S&P 500.

In the last 10 years:

84.71% of funds underperformed the S&P 500.

In Europe (S&P Europe 350 index):

In the last 12 months:

84.41% of funds underperformed the S&P Europe 350.

In the last 3 years:

94.36% of funds underperformed the S&P Europe 350.

In the last 5 years:

91.36% of funds underperformed the S&P Europe 350.

In the last 10 years:

92.07% of funds underperformed the S&P Europe 350.

In Canada (S&P/TSX Composite index):

In the last 12 months:

80.82% of funds underperformed the S&P/TSX Composite.

In the last 3 years:

76.00% of funds underperformed the S&P/TSX Composite.

In the last 5 years:

89.55% of funds underperformed the S&P/TSX Composite.

In the last 10 years:

93.41% of funds underperformed the S&P/TSX Composite.

In Australia (S&P/ASX 200 index):

In the last 12 months:

65.06% of funds underperformed the S&P/ASX 200.

In the last 3 years:

69.57% of funds underperformed the S&P/ASX 200.

In the last 5 years:

68.10% of funds underperformed the S&P/ASX 200.

In the last 10 years:

82.16% of funds underperformed the S&P/ASX 200.

In New Zealand (S&P/NZX 50 index):

In the last 3 years:

38.10% of funds underperformed the S&P/NZX 50.

In the last 5 years:

47.37% of funds underperformed the S&P/NZX 50.

In the last 10 years:

75.00% of funds underperformed the S&P/NZX 50.

In the last 15 years:

76.92% of funds underperformed the S&P/NZX 50.

In Japan (S&P/TOPIX 150 index):

In the last 12 months:

70.23% of funds underperformed the S&P/TOPIX 150.

In the last 3 years:

80.67% of funds underperformed the S&P/TOPIX 150.

In the last 5 years:

88.63% of funds underperformed the S&P/TOPIX 150.

In the last 10 years:

87.30% of funds underperformed the S&P/TOPIX 150.

In Mexico (S&P/BMV IRT index):

In the last 12 months:

53.49% of funds underperformed the S&P/BMV IRT.

In the last 3 years:

60.47% of funds underperformed the S&P/BMV IRT.

In the last 5 years:

72.73% of funds underperformed the S&P/BMV IRT.

In the last 10 years:

85.37% of funds underperformed the S&P/BMV IRT.

In the Middle East and North Africa (S&P Pan Arab Composite index):

In the last 12 months:

44.00% of funds underperformed the S&P Pan Arab Composite.

In the last 3 years:

30.77% of funds underperformed the S&P Pan Arab Composite.

In the last 5 years:

58.06% of funds underperformed the S&P Pan Arab Composite.

In the last 10 years:

87.50% of funds underperformed the S&P Pan Arab Composite.

In South Africa (S&P South Africa DSW Capped index):

In the last 12 months:

54.31% of funds underperformed the S&P South Africa DSW Capped.

In the last 3 years:

47.26% of funds underperformed the S&P South Africa DSW Capped.

In the last 5 years:

47.47% of funds underperformed the S&P South Africa DSW Capped.

In the last 10 years:

67.90% of funds underperformed the S&P South Africa DSW Capped.

In Chile (S&P Chile BMI index):

In the last 12 months:

60.87% of funds underperformed the S&P Chile BMI.

In the last 3 years:

64.29% of funds underperformed the S&P Chile BMI.

In the last 5 years:

70.45% of funds underperformed the S&P Chile BMI.

In the last 10 years:

93.18% of funds underperformed the S&P Chile BMI.

In India (S&P India LargeMidCap index):

In the last 12 months:

76.67% of funds underperformed the S&P India LargeMidCap.

In the last 3 years:

81.82% of funds underperformed the S&P India LargeMidCap.

In the last 5 years:

100% of funds underperformed the S&P India LargeMidCap.

In the last 10 years:

71.82% of funds underperformed the S&P India LargeMidCap.

CONTACT:

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"Active Investing Strategy vs Passive Investing Strategy"

ACTIVE FUNDS UNDERPERFORM THE "MARKET"

WHAT IS THE SPIVA* REPORT?

In Brazil (S&P Brazil LargeCap index, similar to iBovespa):

In the last 12 months:

In the last 3 years:

In the last 5 years:

In the last 10 years:

In the US (S&P 500 index):

In the last 12 months:

In the last 3 years:

In the last 5 years:

In the last 10 years:

In Europe (S&P Europe 350 index):

In the last 12 months:

In the last 3 years:

In the last 5 years:

In the last 10 years:

In Canada (S&P/TSX Composite index):

In the last 12 months:

In the last 3 years:

In the last 5 years:

In the last 10 years:

In Australia (S&P/ASX 200 index):

In the last 12 months:

In the last 3 years:

In the last 5 years:

In the last 10 years:

In New Zealand (S&P/NZX 50 index):

In the last 3 years:

In the last 5 years:

In the last 10 years:

In the last 15 years:

In Japan (S&P/TOPIX 150 index):

In the last 12 months:

In the last 3 years:

In the last 5 years:

In the last 10 years:

In Mexico (S&P/BMV IRT index):

In the last 12 months:

In the last 3 years:

In the last 5 years:

In the last 10 years:

In the Middle East and North Africa (S&P Pan Arab Composite index):

In the last 12 months:

In the last 3 years:

In the last 5 years:

In the last 10 years:

In South Africa (S&P South Africa DSW Capped index):

In the last 12 months:

In the last 3 years:

In the last 5 years:

In the last 10 years:

In Chile (S&P Chile BMI index):

In the last 12 months:

In the last 3 years:

In the last 5 years:

In the last 10 years:

In India (S&P India LargeMidCap index):

In the last 12 months:

In the last 3 years:

In the last 5 years:

In the last 10 years:

CONTACT:

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