AMUB

Passive exchange-traded products seek to replicate the performance of their underlying indexes, are publicly traded and transparent about holdings, and generally have lower fees and less turnover. In contrast, actively managed funds seek to outperform their benchmark index through skilled research.Active funds show similarity to their benchmark indexes given some overlap in constituents due to a limited investment universe as well as relatively high correlations and other tracking metrics.While the aim of active investing to consistently outperform a market benchmark on a risk-adjusted basis is enticing, many midstream funds fail to consistently generate superior returns after fees over the long term.