Empirical Evidence Suggests That ________ Mutual Funds ________ Funds

Multiple Choice

Empirical evidence suggests that ________ mutual funds ________ funds.

A) actively managed; have lower returns than passively managed
B) passively managed; have equal returns to single stock price
C) actively managed; have lower "betas" than single stock
D) passively managed; are more likely to follow a random walk than actively managed
E) indexed; underperform compared to managed