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The fund industry warns that S&P 500 concentration makes your index fund dangerous. A major new study covering nearly a century of data tells a very different story — and suggests the real risk is listening to people who profit from your fear.

Terry Smith blames index funds for Fundsmith's five-year slump — but international market data, factor analysis, and 2024's high-dispersion conditions tell a different story. Here's what the evidence actually shows.

“Passive investing” may sound like settling for average, but the evidence shows the opposite. By avoiding hype and sticking to a disciplined process, index investors tend to outperform. Yet the label itself puts people off. Charley Ellis and behavioural research reveal how one word is shaping outcomes — and why it’s time to reframe the debate.

The hidden costs of passive investing can add hundreds of basis points annually beyond headline fees. New research reveals how index funds face invisible expenses from rebalancing friction, tracking errors, and market impact that never appear on fund fact sheets. UK investors may pay far more than the advertised 0.1% management charge.

JONATHAN CLEMENTS is one of the best-known names in financial journalism. After starting his career writing glowing profiles of star fund managers, he began to see a pattern: most of them failed to deliver over the long run. Raised and educated in England, Clements moved to the United States after graduating from Cambridge University. His early years at Forbes magazine left him sceptical about active management. Even when a fund manager looked like a sure bet, the success rar

The rise of indexing has been one of the most significant investment trends of the past few decades. While some critics worry it could...