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While active strategies experienced a slight surge in the middle of 2023, by the end of the year only 47% outperformed their passive peers.
By Eva Thomas
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Although active strategies experienced a bit of a spike between mid-year 2022 and mid-year 2023, they fell below a 50% success rate once again year-over-year by the end of last year.
According to Morningstar’sActive/Passive Barometerreport, 47% of active funds and ETFs outperformed their passive counterparts from January 2023 to December 2023, compared to 43% in 2022. However, from July 1, 2022, through June 30, 2023, active funds experienced a short-lived surge, as 57% outperformed their passive counterparts.
Bryan Armour, director of passive strategies research at Morningstar, said the 57% seen in the mid-year report was one of the few times that active managers beat passive, but he emphasized that the spike does not reflect the overall narrative of active management.
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