Stats › Active, passive and flows › Active vs passive

The S&P 500 beat 92.89% of active funds over 20 years

1yr: 78.78%78.78%1yr3yr: 66.84%66.84%3yr5yr: 88.96%88.96%5yr10yr: 85.59%85.59%10yr15yr: 89.93%89.93%15yr20yr: 92.89%92.89%20yr

Source: SPIVA U.S. Scorecard Year-End 2025, Report 1a, All Large-Cap Funds against the S&P 500. Data to 31 December 2025.

SPIVA counts active US large cap funds against the S&P 500, including the ones that closed along the way. Over the twenty years to December 2025, roughly nine in ten fell short. Picking in advance the seven in a hundred that won is the task.

92.89%Beaten over 20 years
85.59%Beaten over 10 years
78.78%Beaten in 2025 alone
53.4%Index share of fund assets

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