Depending on the fund, returns of the S&P could be irrelevant and not a suitable benchmark. Evaluating a fund isn't as easy as "does it beat the S&P?". There's

Depending on the fund, returns of the S&P could be irrelevant and not a suitable benchmark. Evaluating a fund isn't as easy as "does it beat the S&P?". There's a lot of other factors to consider.