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Australia Active/Passive Barometer

Skill, survival, and structure: a case for selectivity in active management

Morningstar's Australia Active/Passive Barometer benchmarks the performance of active funds against passive peers across more than 800 open-end strategies in nine Morningstar Categories, covering Australian and global equities, emerging markets, Australian and global bonds, and Australian and global real estate. Drawing on trailing 3-, 5- and 10-year returns to June 2026, the report examines where active management continues to earn its fees and where passive strategies have gained the upper hand.

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Morningstar, its affiliates and content providers accept no responsibility for any investment decisions, losses or damages arising from the use of this page. The content is provided for information purposes only and does not constitute investment advice or an offer to buy or sell any security. It has been prepared without regard to your financial objectives, situation or needs. You should consider its appropriateness and, where relevant, the applicable Product Disclosure Statement before making any investment decision.

Morningstar Australasia Pty Limited (ABN 95 090 665 544, AFSL 240892) and Morningstar Research Ltd are subsidiaries of Morningstar, Inc. Morningstar Investment Management Australia Limited (ABN 54 071 808 501, AFSL 22896) is the Responsible Entity and issuer of the Morningstar Investment Funds. Morningstar Australasia Pty Limited and Morningstar Research Ltd do not publish qualitative research on Morningstar Investment Management Australia Limited’s products and do not endorse, issue, sell or promote those products. No guarantee is provided in relation to capital repayment, income or performance. Past performance is not a reliable indicator of future performance.