The S&P Dow Jones SPIVA report, which was released on Tuesday, shows that 77% of large-cap funds, 81% of ELSS funds and 19% of mid- and small-cap funds have underperformed their respective benchmarks over the year ending in June 2019. Over a 10-year period, the proportion of underperforming large-cap funds dropped to 61% and proportion of underperforming ELSS funds dropped to 46%. In case of mid- and small-cap funds, the proportion of underperformers actually rose to 49%. However, compared to the last SPIVA report, which was released in December 2018, all three equity fund categories have improved their performance over a one-year period.
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