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Wall Street fund managers are having one of the worst years in a decade
The majority of large-cap mutual funds are underperforming the market
Global Markets Investor
December 23, 2025
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🔥🔥 GLOBAL MARKETS INVESTOR PORTFOLIO — UP 64% SINCE JANUARY 2024 DURING THE MARCH-APRIL 2025 MARKET TURMOIL, MAJOR US INDEXES FELL NEARLY 20%, WHILE THE GMI PORTFOLIO GAINED OVER 5%, FIND OUT HOW BELOW:
Only 22% of large-cap mutual funds in the US have beaten the S&P 500 year-to-date, the lowest share since 2016. This means most (over 50%) of active funds have underperformed the market in 4 out of the last 5 years.
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By comparison, the average has been 40%, according to BofA research.
Buying the S&P 500 has not been a great strategy this year, as 45% of the index’s gains have come from the Magnificent 7 stocks, meaning concentration risk has been extremely high even as the index has returned +17%.
This is not surprising then that investors are withdrawing capital from active equity funds at the fastest pace on record.
Meanwhile, Global Markets Investor’s portfolio has returned +39.22% year-to-date, beating the S&P 500 by 22.07 percentage points.
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