S&P Dow Jones Indices released their latest SPIVA (S&P Index vs Active) scorecard for the period ending December 2018.  If you’re a fan of active fund managers, the news is not good. Following are some quick data points and a video from NBR with Bob Pisani detailing the results:

• For the ninth consecutive year, the majority (64.5%) of large cap managers underperformed the S&P 500
• The majority (68.4%) of small cap managers underperformed the S&P SmallCap 600
• Among all active funds, 68.8% underperformed the S&P Composite 1500
• Over the past ten years:
  • Large cap managers: 85% underperformed the S&P 500
  • Mid cap managers: 88% underperformed the S&P MidCap 400
  • Small cap managers: 86% underperformed the S&P SmallCap 600