In “Index Funds Are Cheap But Not Always Best” (Letters, Jan. 29), Christopher Hanford argues that index giant Vanguard doesn’t want investors to know that there exists an actively managed mutual fund that has performed better than Vanguard’s S&P 500 index fund. I’m not aware of any assertion, from Vanguard or any knowledgeable investor, that index investing will, even in the long run, beat every active fund. The argument for indexing is that its lower expenses and trading will allow it to perform better, in the long run,...

Source: Wall Street Journal February 03, 2019 20:26 UTC