The answer was none.Not a single one of the initial 2,132 funds managed to achieve top-quartile performance for those five successive years. That hasn’t happened for stock funds since 2011. This time, S&P Dow Jones Indices did the same measurements for fixed-income funds and came up with the same result: zero. Not a single bond fund remained in the top quarter for every 12-month period.While scoring in the top 25 percent year after year is a fairly high hurdle, it strikes me as a reasonable one. But S&P Dow Jones Indices also used an easier test. How many funds ended up in the top 50 percent year after year over five years? For those …
