Active funds have struggled to beat large mainstream US indices such as the S&P 500, and in most cases investors have been better off using a passive fund (for suggestions on passive options see the IC Top 50 ETFs, last published on 12 June 2020).
However, there are a handful of funds that beat the index at least part of the time. And with US indices arguably expensive and the potential for market falls due to the coronavirus pandemic, passive funds may not continue to do as well against active funds, which might be better at mitigating steep market falls.
There are also areas of the US market, such as smaller companies, where active managers are able to add value.
Other ways to get active exposure to US equities include some global funds, and specialist funds in areas including tech and biotech, as some of these have high allocations to US equities.
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