Passive Equity and Bond Funds vs. Active Equity and Bond Funds The popularity of passive investing through ETFs and index mutual funds has grown significantly since 2010. Image: Financial Times
Flows into ETFs and Mutual Funds (Passive vs. Active) Mutual funds exhibit persistent outflows explained by aging and fees, while inflows into ETFs continue to rise. Image: Arbor Research & Trading LLC
U.S. Domiciled Funds: Active vs. Passive Record passive inflows suggest passive equity funds will surpass active in the coming years. Image: BofA Merrill Lynch US Equity & US Quant Strategy
Passive Equity Fund Assets vs. Active Record passive inflows suggest passive equity funds will surpass active by 2022. Image: BofA Merrill Lynch
U.S. Active vs. Passive Fund Net Flows Active mutual funds exhibit persistent outflows, while inflows into index-tracking U.S. mutual funds and ETFs continue to rise. Image: Bloomberg
Cumulative Net Flows into Passive and Active Equity Funds since 2005 Here is the cumulative net flows into passive and active equity funds from 2005 to 2019. Passive is indexes & ETFs. Until active equity funds drop fees, it will certainly continue.
% of Large-Cap Mutual Funds Outperforming their Benchmarks Active large-cap funds are enjoying an early win, with 57% topping their benchmarks so far this year, well above the average of 37%. But if history is any guide, keeping that edge will be tough. Image: Goldman Sachs Global Investment Research
Percentage of U.S. Large-Cap Equity Mutual Funds Beating the S&P 500 In 2025, only a small minority of large‑cap active equity funds kept pace with the S&P 500. Managers who underweighted the “Magnificent Seven” were punished as the market’s leadership grew even more concentrated. Image: Bloomberg
Global Money Market Fund Assets Global money market fund assets hit a new all-time high of $9.7 tn, highlighting the perceived security and attractiveness of these funds as a viable approach for temporarily storing and increasing capital. Image: Goldman Sachs Global Investment Research
Flows into Money Market Funds Investor interest in U.S. government money market funds continues to be strong, driven by their current attractive yields, high level of safety and liquidity. Image: Goldman Sachs Global Investment Research
Cumulative Passive and Active Equity Flows While active equity funds have faced significant challenges, passive equity flows have shown resilience, remaining positive despite market fluctuations. Image: BofA Global Research