The firm has proven successful at holding onto portfolio management talent, providing continuity for strategies, as displayed by lower-than-average turnover in the past five years compared with asset management peers. The firm stands out in its commitment to investor values by offering an open-end and exchange-traded product lineup at a low cost. On average, the firm charges fees on its funds that are within the second cheapest quintile of its category. The firm has not had a durable product lineup. Specifically, its five-year risk-adjusted success ratio demonstrates that only 25% of products were both able to survive and beat their respective category median on a risk-adjusted basis. A low success ratio indicates poor performance and raises questions about a firm’s discipline around investment strategy and product development.
Worst-Performing Stock ETFs for the Month
ARK Innovation ETF and Renaissance IPO ETF were among the worst-performing ETFs in April 2024.