We’ve all been taught to ‘Buy & Hold’
—But who does it benefit the most?

During a 5-year period ending in 2016, the SPIVA® U.S. Scorecard reports that 88.30% of large-cap managers, 89.95% of mid-cap managers, and 96.57% of small-cap managers all underperformed the S&P 500, the S&P MidCap 400®, and the S&P SmallCap 600®. The figures are equally unfavorable when viewed over longer-term investment timelines.