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There is a difference. The S&P500, e. g., is not constructed by throwing darts.

• Scoundreller 7y ago
  Which could be considered « active » since they have to look at the top 500, and add/remove as required in a manner that won’t cause a company dropping from 500 to 501 from becoming 600 because of a sell off. But that just goes to the point I’m making: there are varying degrees of active and passive funds. The rise of passive index funds won’t distort much of anything when funds were coming from a passive fund that tried to sell itself (and charge) as active.