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Investing Specialists

Top 10 Holdings of Our Ultimate Stock-Pickers' Index

We examine the biggest contributors to--and detractors from--the performance of the index during the past year.

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Each year, fund investors would like to see the manager of the actively managed funds they own beat the market, but they've been left wanting for well over a decade. The lack of consistent outperformance by large-cap active managers (the main contributors to the Ultimate Stock-Pickers concept) has been well documented by Morningstar's Active/Passive Barometer. It’s a cutthroat world out there for active managers. For the 20 years ending October 2021, just 10.5% of active funds in the large growth category have managed to survive and outperform their average passive peer.

Actively managed U.S. growth funds struggled during the year through June 2021. Success rates among large-, mid-, and small-cap growth managers declined precipitously versus the 12 months through June 2020. The combined success rate among managers of active growth funds was just 27.5%.

Justin Pan does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.