Passive versus Active Fund Performance: Do Index Funds Have Skill?

We apply methods designed to measure mutual fund skill to a cross section of funds that is unlikely to exhibit managerial portfolio selection skill: index funds. Surprisingly, these tests imply index fund skill exists, is persistent, and is in similar proportion as in active funds. We use the distri...

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Veröffentlicht in:	Journal of financial and quantitative analysis 2018-02, Vol.53 (1), p.33-64
Hauptverfasser:	Crane, Alan D., Crotty, Kevin
Format:	Artikel
Sprache:	eng
Schlagworte:	Benchmarks Fees & charges Index funds Investment advisors Quantitative analysis
Online-Zugang:	Volltext
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