Inside the Index | Fixed Income Fund Study: Dissecting Active Performance

** Upon clicking "Register", the registration link will open in your default browser window. ** Does active management truly deliver superior results in fixed income or are investors simply paying active fees for systematic risk? Join us for the latest installment of Inside the Index as we present the findings of an exhaustive study analyzing U.S. active fixed income mutual funds and ETFs. Spanning over two decades of data across Aggregate, Government, Corporate, and High Yield categories, this session goes beyond surface level performance to uncover the true drivers of bond fund returns. While many funds claim modest outperformance against stated benchmarks, our research utilizes regression and factor attribution to reveal a more complex reality. We explore how excess returns are often a byproduct of systematic exposures specifically credit and curve factors rather than pure manager skill. Key Discussion Points - The Alpha Illusion Why stated benchmarks often fail to capture the actual risk profile of active bond funds. - Introducing Technical Benchmarks The case for customized index combinations that provide a more accurate comparison for fund level exposures. - Factor Attribution Breaking down the impact of credit and duration positioning on historical performance. - The Systematic Shift Why the findings underscore a growing need for transparent, index based strategies to deliver targeted exposures with greater efficiency.