|
|
|
|
||||
|
||||
S&P 500 Index Mutual FundsJohn A. HaslemUniversity of Maryland - Robert H. Smith School of Business H. Kent BakerAmerican University - Kogod School of Business David M. SmithState University of New York at Albany - School of Business June 25, 2009 Journal of Indexes, Vol. 9, No. 2, pp. 34-38, March/April 2007 Abstract: For investor and institutional class index mutual funds that track the S&P 500 Index, there are just 25 funds with statistically low expense ratios (management fee findings are found above). However, there are only five index funds — all investor class — with statistically very high and extremely high expense ratios. Thus, these results contain both bad and good news for investors. Unfortunately, the complete story of high expense ratios for S&P 500 index funds finds more bad news. The Sharpe ratio, Jensen's alpha, annualized total return, Morningstar Star ratings, and average net assets are all statistically negatively correlated with index funds with statistically high expense ratios. Further, portfolio turnover and 12b-1 fees are statistically positively correlated with index funds with statistically high expense ratios.
Number of Pages in PDF File: 5 Keywords: S&P 500 index mutual funds, expense ratio, management fees, risk/return performance measures, portfolio turnover, 12b-1 fees, statistical relationships JEL Classification: G2, G23, G28 Accepted Paper SeriesDate posted: June 26, 2009 ; Last revised: October 16, 2012Suggested CitationContact Information
|
|
|||||||||||||||||||||||||||||||
© 2013 Social Science Electronic Publishing, Inc. All Rights Reserved.
FAQ
Terms of Use
Privacy Policy
Copyright
This page was processed by apollo2 in 0.359 seconds
