67% of active large-cap funds trailed the S&P 500

67% of active large-cap U.S. equity funds underperformed the S&P 500 in the SPIVA U.S. Mid-Year 2026 comparison, according to S&P Dow Jones Indices. That leaves about one-third ahead. For ordinary savers, it is a reminder that beating the market after fees and taxes is the exception, not the rule.