Here is a nice article written by Dimensional Fund Advisors:
Dimensional's Research group recently updated the Mutual Fund Landscape analysis to reflect US mutual fund industry performance through 2013. The analysis is based on data from the CRSP Survivor-Bias-Free US Mutual Fund Database.
"The Mutual Fund Landscape 2014" features graphics and narrative that describe a fund manager’s challenge to survive and outperform over time. The data reveals that few mutual funds have delivered benchmark-beating returns and quantifies an investor’s challenge to identify outperforming managers in advance. The content also shows the impact of fees and turnover on fund returns. Click on the title to download: Dimensional-Funds-Mutual-Fund-Landscape-2014.pdf
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