The 20 index funds with the largest net outflows over the past 10 years lost a combined $59.21 billion in assets under management, according to data from Morningstar Direct.
Their losses represented nearly half of their weight in cash, according to the data. The funds — tracking sectors from emerging markets to bonds commodities — had an average net expense ratio more than three-times the typical passively managed product. CLS Investments CIO Marc Pfeffer suspects many long-term investors are simply looking for lower-cost alternatives that accomplish the same goals.