April 2017
SPIVA results are damning
Jeff Troutner
Equius Partners

The latest SPIVA report shows, once again, that gurus who pick stocks and/or time markets are ripping off long-term investors. Only 8.5% of funds in the US large value fund category beat a relevant index. Only 6% of US small value funds met that objective.

This is consistent with Dimensional Fund Advisors' research, which uses CRSP data. Dimensional also reports that "Only 15% of US equity and fixed income funds that were around in 2000 beat an industry benchmark, 15 years later. Over the same time period, 82% of US equity and fixed income Dimensional funds outperformed their benchmarks."

Created with Sketch. David Booth Chairman and Co-CEO, Dimensional Fund Advisors “This investment philosophy is about more than returns—it’s about a great client experience that can really help people relax.”