Fixed-income funds struggled to outperform benchmarks in the long term. The majority of funds in all highlighted fixed-income categories underperformed over the 10-year period ended Dec. 31, 2015. Not surprising, long-term active government funds fared the worst with 95.56% of mangers underperforming over the 10-year period. Even inefficient markets could not help managers, with 93.97% of high-yield funds and 81.25% of emerging markets debt funds underperforming their benchmarks over the 10-year period.
Majority of fixed-income managers underperform benchmarks in the long term
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