$1.6T AUM 2026
T Rowe PriceLong
T. Rowe Price $1.6T AUM 2026
Source: encyclopedia
$1.6T AUM 2026
FranklinMulti
Franklin Templeton $1.6T AUM 2026
Source: encyclopedia
$1.8T AUM 2026
InvescoMulti
Invesco $1.8T AUM 2026
Source: encyclopedia
$10T+ AUM Q1 2026
VanguardLong
Vanguard $10T+ AUM 2026
Source: encyclopedia
$26T assets analyzed
Active Mgmt StatsMulti
$26T assets in Barometer ~67% market
Source: Morningstar
$2T+ AUM 2026
PimcoLong
PIMCO $2T+ AUM 2026
Source: encyclopedia
$3.1T AUM 2026
GoldmanLong
Goldman GSAM $3.1T AUM 2026
Source: encyclopedia
$3.5T AUM 2026
JPMLong
JPM Asset Management $3.5T AUM 2026
Source: encyclopedia
$3T+ AUM 2026
Capital GroupLong
Capital Group $3T+ AUM 2026
Source: encyclopedia
$4T+ AUM 2026
State StreetMulti
State Street $4T+ AUM 2026
Source: encyclopedia
$5T+ AUM 2026
FidelityLong
Fidelity $5T+ AUM 2026
Source: encyclopedia
$700B+ AUM 2026
DimensionalLong
Dimensional $700B+ AUM 2026
Source: encyclopedia
$8.6T+ client assets 2026
SchwabLong
Schwab $8.6T+ client assets 2026
Source: encyclopedia
14.8% equity ETF share
State StreetMulti
State Street 14.8% equity ETF share #3
Source: USNews
20% active beat 10y average
Active Mgmt StatsShort
~20% active beat passive over 10y
Source: Morningstar
29.4% equity ETF share
BlackRockLong
BlackRock 29.4% equity ETF share
Source: USNews
3-5-10y weighted avg overall
Manager SelectionMulti
Overall = weighted avg 3 5 10y
Source: Berkeley
30.1% equity ETF share
VanguardLong
Vanguard 30.1% equity ETF share
Source: USNews
38% active beat passive 2025
Active Mgmt StatsShort
Only 38% active funds beat passive 2025
Source: Morningstar
4pp drop YoY in 2025
Active Mgmt StatsShort
4pp drop YoY active success rate 2025
Source: Morningstar
5-factor Carhart
Manager SelectionMulti
Carhart 4-factor model FF + momentum
Source: encyclopedia
500 Index FXAIX
FidelityLong
Fidelity 500 Index FXAIX
Source: encyclopedia
80+ applicants pending
ETF Share ClassesMulti
80+ applicants for ETF share class
Source: TCW
9248 funds analyzed
Active Mgmt StatsMulti
9248 funds in Active/Passive Barometer
Source: Morningstar
AGTHX Growth Fund of America
Capital GroupLong
American Funds AGTHX Growth Fund of America
Source: encyclopedia
AIVSX Investment Co America
Capital GroupLong
American Funds AIVSX Investment Co of America
Source: encyclopedia
AQR active quant
Active QuantMulti
AQR Capital Mgmt active quant
Source: encyclopedia
AUM bloat penalty
Manager SelectionShort
AUM bloat penalty for top funds
Source: encyclopedia
AVUV Small Cap Value
AvantisLong
Avantis AVUV US Small Cap Value
Source: encyclopedia
Acadian quant
Active QuantMulti
Acadian quant active
Source: encyclopedia
Active ETF 9% capital gains 2025
ETF Share ClassesLong
Only 9% active ETFs distributed cap gains 2025
Source: TradingView
Active ETFs growing fast
Active vs PassiveLong
Active ETFs fastest-growing 2024-26
Source: encyclopedia
Active MFs 53% capital gains
ETF Share ClassesShort
Active mutual funds 53% distributed cap gains
Source: TradingView
Active Share metric
Manager SelectionMulti
Active Share Cremers/Petajisto
Source: encyclopedia
Active corporate bond -63pp 2025
Active Mgmt StatsShort
Active corp bond success -63pp to 4.4%
Source: Morningstar
Active funds ~$15.2T
IndustryMulti
Active mutual funds ~$15.2T 2025
Source: Morningstar
Active large-cap 37% 2024
Active Mgmt StatsMulti
Active large-cap 37% success 2024
Source: Morningstar
Active mid-cap 37% 2024
Active Mgmt StatsMulti
Active mid-cap 37% success 2024
Source: Morningstar
Active outflows $800B 2008-15
Active vs PassiveShort
Active outflows $800B 2008-15 cumulative
Source: Cambridge
Active small-cap 43% 2024
Active Mgmt StatsMulti
Active small-cap 43% success 2024
Source: Morningstar
Aladdin risk platform
BlackRockLong
BlackRock Aladdin risk + portfolio platform
Source: encyclopedia
All-Weather Bridgewater retail
Distinct StrategiesMulti
Bridgewater All-Weather retail flavor
Source: encyclopedia
American Funds 1931 founded
Capital GroupLong
Capital Group American Funds 1931 founded
Source: encyclopedia
Annual return diff 25-75 small
Active Mgmt StatsShort
Active large-blend 25-75 ann diff only 1.6% 10y
Source: Morningstar
Avantis ETFs Eduardo Repetto
AvantisLong
Avantis Investors AVUV factor
Source: encyclopedia
Backfill bias
Manager SelectionShort
Backfill bias - HF databases
Source: encyclopedia
Bear Stearns hedge funds 2007
Famous FailuresShort
Bear Stearns 2007 hedge funds collapsed
Source: encyclopedia
Berkshire Hathaway Buffett
Famous FundsLong
Berkshire Hathaway Buffett value
Source: encyclopedia
Big 3 Equity ETF 74.3%
IndustryLong
Vanguard+BR+SS combined 74.3% Equity ETF
Source: USNews
BlackRock #1 global $11T+
BlackRockLong
BlackRock #1 global asset manager $11T+
Source: Unbiased
BlackRock Multi-Sector
Active Bond MgmtIncome
BlackRock Multi-Sector
Source: encyclopedia
Blue Chip Growth TRBCX
T Rowe PriceLong
T. Rowe Price Blue Chip Growth TRBCX
Source: encyclopedia
Bond + RE active best LT
Active Mgmt StatsLong
Bond + Real Estate active best 10y
Source: Morningstar
Bridgewater Associates HF
BridgewaterLong
Bridgewater Associates Dalio HF $90B+
Source: encyclopedia
Brinson attribution
Manager SelectionMulti
Brinson attribution - sector + selection
Source: encyclopedia
Calmar return/MaxDD
Manager SelectionMulti
Calmar = ann ret / max DD
Source: encyclopedia
Capital Appreciation PRWCX
T Rowe PriceLong
T. Rowe Price Capital Appreciation PRWCX
Source: encyclopedia
Capital Group +8% AUM
IndustryLong
Capital Group American Funds +8% US AUM
Source: IBF
Capital System multi-portfolio
Capital GroupLong
American Funds Capital System multi-PM
Source: encyclopedia
Closet indexing risk
Active Mgmt StatsShort
Closet indexing - charge active fees
Source: encyclopedia
Contrafund FCNTX
FidelityLong
Fidelity Contrafund FCNTX
Source: encyclopedia
DFA SEC ETF share class Nov 2025
Active QuantMulti
SEC approved DFA ETF share class Nov 18 2025
Source: TCW
DFAS US Small Cap Value
DimensionalLong
Dimensional DFAS US Small Cap Value
Source: encyclopedia
Dimensional Fund Advisors DFA
Active QuantMulti
DFA factor-based active quant
Source: encyclopedia
Dimensional Fund Advisors DFA
DimensionalLong
Dimensional Fund Advisors DFA factor
Source: Cambridge
Direct indexing rising
StrategyLong
Direct indexing tax-managed
Source: encyclopedia
Dodge & Cox Income
Active Bond MgmtIncome
Dodge & Cox Income value bond
Source: encyclopedia
Dodge & Cox value
Famous FundsLong
Dodge & Cox Stock value
Source: encyclopedia
DoubleLine Capital Gundlach
DoubleLineLong
DoubleLine Capital Gundlach
Source: encyclopedia
DoubleLine Gundlach
Active Bond MgmtIncome
DoubleLine Gundlach + team
Source: encyclopedia
DoubleLine Total Return Gundlach
Famous FundsIncome
DoubleLine Total Return Gundlach
Source: encyclopedia
FBND Total Bond ETF active
FidelityLong
Fidelity FBND Total Bond active ETF
Source: encyclopedia
FPA Crescent Romick
Famous FundsLong
FPA Crescent Romick balanced
Source: encyclopedia
FPA New Income
Active Bond MgmtIncome
FPA New Income conservative
Source: encyclopedia
Fairholme Berkowitz
Famous FundsLong
Fairholme Bruce Berkowitz value
Source: encyclopedia
Fama-French factor based
DimensionalLong
Dimensional Fama-French factor strategy
Source: encyclopedia
Federated Hermes FHI
Federated HermesMulti
Federated Hermes FHI MM specialist
Source: encyclopedia
Fidelity Contrafund Danoff
Famous FundsLong
Fidelity Contrafund Will Danoff
Source: encyclopedia
Fidelity Low Vol Loomis Sayles
Famous FundsMulti
Loomis Sayles Bond Fund
Source: encyclopedia
Fidelity Low-Priced Stock Tillinghast
Famous FundsLong
Fidelity Low-Priced Stock Tillinghast
Source: encyclopedia
Fidelity Magellan post-Lynch
Famous FailuresShort
Magellan post-Lynch underperformed
Source: encyclopedia
Fidelity private family-owned
FidelityLong
Fidelity private Johnson family
Source: Unbiased
Franklin Templeton BEN
FranklinMulti
Franklin Templeton BEN publicly traded
Source: encyclopedia
GIP infra acquired 2024 $12.5B
BlackRockLong
BR acquired GIP infra $12.5B 2024
Source: encyclopedia
GMO 7y forecast
Active QuantMulti
GMO 7-year asset class forecasts
Source: encyclopedia
GMO Grantham
Famous FundsLong
GMO Jeremy Grantham value
Source: encyclopedia
Goldman Sachs Asset Management
GoldmanLong
Goldman GSAM
Source: encyclopedia
HPS Investment $12B 2025
BlackRockLong
BR acquired HPS Investment $12B 2025
Source: encyclopedia
Hot hands fallacy
Manager SelectionShort
Hot hands fallacy in fund selection
Source: encyclopedia
IVV iShares S&P 500
BlackRockLong
iShares IVV S&P 500 #2 ETF
Source: encyclopedia
Index investor passive
StrategyLong
Pure index investing passive
Source: encyclopedia
Information ratio
Manager SelectionMulti
Information ratio = excess/TE
Source: encyclopedia
Invesco IVZ publicly traded
InvescoMulti
Invesco IVZ publicly traded asset manager
Source: encyclopedia
JAAA AAA CLO ETF
Janus HendersonLong
Janus Henderson JAAA AAA CLO ETF
Source: encyclopedia
JEPI Equity Premium Income
JPMIncome
JPMorgan JEPI Equity Premium Income $40B+
Source: encyclopedia
JEPQ Nasdaq Equity Premium
JPMIncome
JPMorgan JEPQ Nasdaq Equity Premium
Source: encyclopedia
JPMorgan Asset Management
JPMLong
JPMorgan Asset Management
Source: encyclopedia
Janus Henderson JHG
Janus HendersonMulti
Janus Henderson JHG
Source: encyclopedia
Jensen's alpha
Manager SelectionMulti
Jensen's alpha vs CAPM
Source: encyclopedia
LSV quant value
Active QuantMulti
LSV value-quant Lakonishok
Source: encyclopedia
LTCM 1998 hedge fund
Famous FailuresShort
LTCM 1998 collapse - $4B losses
Source: encyclopedia
Largest active mutual fund mgr
FidelityLong
Fidelity largest active MF manager
Source: Cambridge
Lifecycle funds
Distinct StrategiesLong
Lifecycle / glide-path funds
Source: encyclopedia
Lifecycle target date funds
StrategyLong
Lifecycle/target-date fund strategies
Source: encyclopedia
Long-only equity
Distinct StrategiesLong
Long-only equity active most common
Source: encyclopedia
Long/short 130/30
Distinct StrategiesMulti
130/30 long/short retail
Source: encyclopedia
Longleaf Partners Hawkins
Famous FundsLong
Longleaf Partners Mason Hawkins value
Source: encyclopedia
Loomis Sayles Bond
Active Bond MgmtIncome
Loomis Sayles Bond
Source: encyclopedia
Lord Abbett private firm
Lord AbbettMulti
Lord Abbett private active
Source: encyclopedia
Lower cost passive
Active vs PassiveLong
Lower cost passive driver of switch
Source: encyclopedia
M2 Modigliani measure
Manager SelectionMulti
M2 risk-adjusted return
Source: encyclopedia
Magellan Fund FMAGX
FidelityLong
Fidelity Magellan FMAGX (Lynch legacy)
Source: encyclopedia
Magellan Lynch 1977-1990
Famous FundsLong
Peter Lynch Magellan 1977-90 29% pa
Source: encyclopedia
Manager tenure key
Manager SelectionMulti
Manager tenure as factor
Source: encyclopedia
Market neutral funds
Distinct StrategiesMulti
Market-neutral mutual funds
Source: encyclopedia
Morningstar Analyst Rating
Manager SelectionMulti
Morningstar Gold/Silver/Bronze qual
Source: encyclopedia
Morningstar Medalist Rating
Manager SelectionMulti
Medalist Rating - quantitative + qual
Source: encyclopedia
Morningstar Star Rating
Manager SelectionMulti
Morningstar 1-5 star rating
Source: Berkeley
Most active underperform
Active vs PassiveShort
Majority active funds underperform indexes
Source: encyclopedia
Multi-asset balanced
Distinct StrategiesLong
Multi-asset balanced funds
Source: encyclopedia
Multi-factor combined
StrategyLong
Multi-factor combined approaches
Source: encyclopedia
Multi-factor stock pickers
Distinct StrategiesMulti
Multi-factor stock-pickers
Source: encyclopedia
Oakmark Nygren
Famous FundsLong
Oakmark Funds Bill Nygren value
Source: encyclopedia
One-year diff much wider
Active Mgmt StatsMulti
One-year 25-75 differential 4-7%
Source: Morningstar
PIMCO Total Return Gross
Famous FundsIncome
PIMCO Total Return Gross 1987-2014
Source: encyclopedia
PIMCO Total Return PTTAX
PimcoLong
PIMCO Total Return PTTAX (Gross legacy)
Source: encyclopedia
PIMCO Total Return post-Gross
Famous FailuresShort
PIMCO TR Gross departure 2014
Source: encyclopedia
PIMCO bond specialist
PimcoLong
PIMCO bond specialist (Allianz)
Source: encyclopedia
PIMCO bond strategies deep
Active Bond MgmtIncome
PIMCO active bond strategies
Source: encyclopedia
Passive > Active assets 2024
Active Mgmt StatsLong
US passive MF + ETF assets > active 2024 first-time
Source: Morningstar
Passive funds ~$18T
IndustryLong
Passive funds ~$18T 2025
Source: Morningstar
Passive inflows $1T 2008-15
Active vs PassiveLong
Passive inflows ~$1T 2008-15 cumulative
Source: Cambridge
Passive overtook 2019
Active vs PassiveLong
Passive overtook active 2019
Source: encyclopedia
Persistence past performance
Manager SelectionShort
Performance persistence weak (top→top rare)
Source: encyclopedia
Persistent alpha rare
Active vs PassiveShort
Persistent alpha rare empirically
Source: encyclopedia
Platform readiness 2027
ETF Share ClassesMulti
Wide platform support unlikely before 2027
Source: TCW
Preqin acquired 2024 $3.2B
BlackRockLong
BR acquired Preqin $3.2B 2024
Source: encyclopedia
Putnam Investments Franklin
PutnamMulti
Putnam Investments (Franklin acquired 2024)
Source: encyclopedia
QQQ Nasdaq-100 #1 product
InvescoLong
Invesco QQQ Nasdaq-100 ETF flagship
Source: encyclopedia
Risk parity
Distinct StrategiesMulti
Risk parity allocation
Source: encyclopedia
Robo-advisor low cost
StrategyLong
Robo-advisor automated portfolios
Source: encyclopedia
SCHD US Dividend Equity
SchwabIncome
Schwab SCHD US Dividend Equity
Source: encyclopedia
SEC approved Nov 2025
ETF Share ClassesMulti
SEC approved DFA + others ETF share class
Source: TCW
SPIVA persistence Apr 2025
Manager SelectionShort
SPIVA - 2-3% top quartile persist 5y
Source: encyclopedia
SPIVA persistence report S&P
Active vs PassiveShort
SPIVA persistence reports S&P
Source: encyclopedia
SPIVA scorecard quarterly
Active Mgmt StatsMulti
S&P SPIVA scorecard quarterly
Source: Morningstar
SPY S&P 500 oldest ETF
State StreetLong
SPDR SPY S&P 500 oldest US ETF 1993
Source: encyclopedia
SWPPX S&P 500 Index
SchwabLong
Schwab SWPPX S&P 500 Index
Source: encyclopedia
Schwab Asset Management
SchwabLong
Charles Schwab Asset Management
Source: encyclopedia
Selection bias
Manager SelectionShort
Selection bias in studies
Source: encyclopedia
Sequoia Fund Ruane Cunniff
Famous FundsLong
Sequoia Fund - Ruane Cunniff Buffett-style
Source: encyclopedia
Sharpe ratio Sharpe 1966
Active Mgmt StatsMulti
Sharpe ratio Sharpe 1966
Source: Berkeley
Sharpe ratio risk-adj
Manager SelectionMulti
Sharpe = (Rp-Rf)/sigma
Source: encyclopedia
Smart beta factor tilt
StrategyLong
Smart beta factor tilts
Source: encyclopedia
Smart-beta active blend
Distinct StrategiesMulti
Smart-beta active blend
Source: encyclopedia
Sortino downside-only
Manager SelectionMulti
Sortino - downside-deviation only
Source: encyclopedia
State Street SPDR ETFs
State StreetMulti
State Street SPDR ETF brand
Source: USNews
Strategic asset allocation
Distinct StrategiesLong
Strategic asset allocation buy+hold
Source: encyclopedia
Style drift risk
Manager SelectionShort
Style drift - changes investment approach
Source: encyclopedia
Survivorship bias caution
Manager SelectionShort
Survivorship bias inflates avg returns
Source: Morningstar
T Rowe Capital Appreciation
Famous FundsLong
T. Rowe Price Capital Appreciation Giroux
Source: encyclopedia
T Rowe Price Blue Chip
Famous FundsLong
T. Rowe Price Blue Chip Growth
Source: encyclopedia
T Rowe Price TROW publicly traded
T Rowe PriceLong
T. Rowe Price TROW publicly traded
Source: encyclopedia
TCW MetWest Total Return
Active Bond MgmtIncome
TCW MetWest Total Return
Source: encyclopedia
TOTL Total Return ETF
DoubleLineLong
DoubleLine TOTL Total Return ETF
Source: encyclopedia
Tactical asset allocation
Distinct StrategiesMulti
Tactical asset allocation TAA
Source: encyclopedia
Target Date Retirement
T Rowe PriceLong
T. Rowe Price target date retirement
Source: encyclopedia
Target date funds TDFs
Distinct StrategiesLong
Target Date Funds for retirement
Source: encyclopedia
Tax efficiency improved
ETF Share ClassesLong
ETF share class - improved tax efficiency
Source: TCW
Tax-loss harvesting auto
StrategyLong
Tax-loss harvesting automated
Source: encyclopedia
Templeton Growth Fund
Famous FundsLong
Sir John Templeton Templeton Growth
Source: encyclopedia
Third Avenue Focused 2015
Famous FailuresShort
Third Avenue Focused gated 2015
Source: encyclopedia
Third Avenue Whitman
Famous FundsLong
Third Avenue Marty Whitman value
Source: encyclopedia
Three-fund portfolio Bogle
StrategyLong
Bogleheads three-fund portfolio
Source: encyclopedia
Top 5 active 46% AUM
IndustryMulti
Top 5 active 46% active AUM
Source: Morningstar
Top 5 passive 89% AUM
IndustryLong
Top 5 passive 89% AUM concentrated
Source: Morningstar
Total Market FSKAX
FidelityLong
Fidelity Total Market FSKAX
Source: encyclopedia
Tracking error metric
Manager SelectionMulti
Tracking error - active deviation
Source: encyclopedia
Treynor systematic risk
Manager SelectionMulti
Treynor = (Rp-Rf)/beta
Source: encyclopedia
Tweedy Browne global value
Famous FundsLong
Tweedy Browne Global Value
Source: encyclopedia
US ETF total $13.4T YE 2025
IndustryLong
US ETF total net assets $13.4T YE 2025
Source: IBF
US MF total $31.4T YE 2025
IndustryMulti
US mutual fund total $31.4T YE 2025 ICI
Source: IBF
Up/down capture ratio
Manager SelectionMulti
Up/Down capture - bull/bear participation
Source: encyclopedia
VBINX Balanced Index
VanguardLong
Vanguard Balanced Index VBINX 60/40
Source: encyclopedia
VFIAX S&P 500 Admiral
VanguardLong
Vanguard 500 Admiral VFIAX
Source: encyclopedia
VOO ETF S&P 500
VanguardLong
Vanguard VOO S&P 500 ETF #1 ETF
Source: encyclopedia
VTI ETF Total Stock Market
VanguardLong
Vanguard VTI Total Stock Market ETF
Source: encyclopedia
VTSAX largest MF
VanguardLong
Vanguard Total Stock Market VTSAX largest MF
Source: encyclopedia
VTSMX retired
VanguardMulti
Vanguard VTSMX retired investor share class
Source: encyclopedia
VWELX Wellington oldest balanced
VanguardLong
Vanguard Wellington VWELX oldest balanced 1929
Source: encyclopedia
Vanguard #2 mutual ownership
VanguardLong
Vanguard mutual ownership investor-owned
Source: Unbiased
Vanguard Primecap MFG
Famous FundsLong
Vanguard PRIMECAP Mgmt growth
Source: encyclopedia
Vanguard Wellington 1929+
Famous FundsIncome
Vanguard Wellington est 1929 oldest balanced
Source: encyclopedia
Vanguard Wellington 60/40
StrategyLong
Wellington 60/40 oldest balanced
Source: encyclopedia
Vanguard+BlackRock+Fidelity 50%
IndustryMulti
Vanguard+BlackRock+Fidelity ~50% US fund AUM
Source: IBF
Wellington Management
WellingtonLong
Wellington Management active
Source: encyclopedia
Western Asset legg mason
Active Bond MgmtIncome
Western Asset Mgmt active bond
Source: encyclopedia
Woodford UK 2019
Famous FailuresShort
Neil Woodford UK fund failure 2019
Source: encyclopedia
ZERO funds 0.0% expense
FidelityLong
Fidelity ZERO 0.0% expense ratio funds
Source: Unbiased
iShares ETF brand
BlackRockLong
BlackRock iShares ETF brand leader
Source: encyclopedia
An encyclopedia of publicly documented strategies for education. YCAI does not recommend, endorse, or trade any of these. Not investment advice.