Journal of
Marketing Development and Competitiveness






Scholar Gateway


Abstracts prior to volume 5(1) have been archived!

Issue 5(1), October 2010 -- Paper Abstracts
Girard  (p. 9-22)
Cooper (p. 23-32)
Kunz-Osborne (p. 33-41)
Coulmas-Law (p.42-46)
Stasio (p. 47-56)
Albert-Valette-Florence (p.57-63)
Zhang-Rauch (p. 64-70)
Alam-Yasin (p. 71-78)
Mattare-Monahan-Shah (p. 79-94)
Nonis-Hudson-Hunt (p. 95-106) 



JOURNAL OF APPLIED BUSINESS AND ECONOMICS


Passively Active Investing – A Five Year Test



Author(s): Jeffry Haber

Citation: Jeffry Haber, (2020) "Passively Active Investing – A Five Year Test," Journal of Applied Business and Economics, Vol. 22, Iss.2,  pp. 74-87

Article Type: Research paper

Publisher: North American Business Press

​Abstract:

This paper took five years of the Council on Foundations-Commonfund study of Foundations and using
the average asset allocation replaced the active managers with ETFs. The ETFs comprised the “replacement portfolio.” Over the five years the active portfolio outperformed the replacement portfolio
in four of the five years. The five-year return of the actively managed portfolio was 8.1% versus 4.8% for the replacement portfolio. The ETFs chosen that replaced the managers were similar strategies and chosen based on having a low expense ratio. No review of past performance was done. During the five years poorly performing ETFs were not replaced.