ETF Strategist

Active managers are getting crushed. Here's why

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Why it's getting harder to beat the markets

In addition to being a rough year for the stock market, it's been another tough period for active managers.

Just 32 percent of those who run mutual funds that focus on large-cap stocks have managed to top their measuring stick this year, according to tabulations from Goldman Sachs, which uses a sample of 684 funds with $1.7 trillion of assets under management (of the $7 trillion overall of actively managed funds).

The news is worse elsewhere: A mere 8 percent of large-cap growth managers have managed to beat their Russell 1000 Growth Index, while only 12 percent of large-cap value managers are ahead of their Russell 1000 Value barometer.

Interestingly, the small-cap space is the only sector where managers are keeping up, as 80 percent of core funds have beaten the , which has dropped about 5 percent year-to-date.