This -- you'd expect that actively managed funds would start, on average, to give better performance than the low-cost passive indexes. In the long-run this wo

This -- you'd expect that actively managed funds would start, on average, to give better performance than the low-cost passive indexes. In the long-run this would likely reach an equilibrium where, on average, results are comparable -- minus fees. We are not there yet. Maybe we never will, because reasons.