Stats › Active, passive and flows › SPIVA global
92% of South African funds lost, 17% of Brazilian ones
A 75 percentage point gap between the two extremes reported. Source: S&P Dow Jones Indices, SPIVA mid-year 2025 results around the world.
SPIVA compares active funds to a benchmark and counts the funds that closed along the way. In the first half of 2025, 92% of South African domestic funds underperformed and 17% of Brazilian ones. The aggregate across all 11 regions covered was 54%.
92%South Africa
17%Brazil
54%All 11 regions
92.89%US large cap, 20 years
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