Two-thirds of large-stock funds trailed the S&P 500

67% of active large-cap U.S. stock funds — funds where managers pick stocks to beat the market — lagged the S&P 500, per S&P Dow Jones Indices' SPIVA U.S. Mid-Year 2026 scorecard. About one-third beat it. For savers, beating the market after fees and taxes is the exception, not the rule.