Well, 92% of actively managed funds underperform the S&P 500 on a 15 year trailing basis [1] so I'm going to say probably a lot. [1] https://www.cnbc.com/2019/

Well, 92% of actively managed funds underperform the S&P 500 on a 15 year trailing basis [1] so I'm going to say probably a lot. [1] https://www.cnbc.com/2019/03/15/active-fund-managers-trail-the-sp-500-for-the-ninth-year-in-a-row-in-triumph-for-indexing.html https://www.cnbc.com/2019/03/15/active-fund-managers-trail-t...