Real ChatGPT answer · index seed5qYbOpR5Sl4completeFinance and banking · investing and brokeragesbrand
Do Vanguard index funds really beat managed funds after you factor in expense ratios and taxes today
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Fan-out diagram
The searches the AI actually ran for this prompt.
SEED QUERY
Do Vanguard index funds really beat managed funds after you factor in expense ratios and taxes today
3 real searches · 1 real-search pass
2026 SPIVA U.S. scorecard year-end 2025 active funds underperform benchmarks long term expense ratios taxes Vanguard index fundsGoogle ↗
OBSERVED
Morningstar Active Passive Barometer 2025 active funds success rates 10 year United StatesGoogle ↗
OBSERVED
Vanguard research index funds tax efficiency capital gains distributions active funds expense ratiosGoogle ↗
OBSERVED
Badge and edge weight = share of passes that produced the query. Hover a query for its intent and routing format.
Query classes
Google's semantic query class for every sub-query: what kind of answer each search is after, simulated vs real.
Classifying 3 queries…
Searches and sources
ChatGPT3 real searches · gpt-6
2026 SPIVA U.S. scorecard year-end 2025 active funds underperform benchmarks long term expense ratios taxes Vanguard index funds Google ↗
Morningstar Active Passive Barometer 2025 active funds success rates 10 year United States Google ↗
Vanguard research index funds tax efficiency capital gains distributions active funds expense ratios Google ↗
- US Active/Passive Barometer Report: Mid-Year 2026 · morningstar.com
- Active vs. Passive Mutual Fund Performance: When Do Active Managers Win? · dotcom-edge-prod.ind7f52b.eas.morningstar.com
- SPIVA Contributors SPIVA® U.S. Score · spglobal.com
- Setting the record straight: The truths about index fund investing · corporate.vanguard.com
- Mutual funds and ETFs: Understanding capital gains · corporate.vanguard.com
- Greater tax efficiency through equity asset location · corporate.vanguard.com
Queries
3 queries · click a column to sort
| Query / type | Search | Intent | Query class | Routing format | Cluster | Freq ↓ | Weight |
|---|---|---|---|---|---|---|---|
2026 SPIVA U.S. scorecard year-end 2025 active funds underperform benchmarks long term expense ratios taxes Vanguard index funds OBSERVED | Google ↗ AI Mode ↗ | — | — | — | — | 1x of 1 | |
Morningstar Active Passive Barometer 2025 active funds success rates 10 year United States OBSERVED | Google ↗ AI Mode ↗ | — | — | — | — | 1x of 1 | |
Vanguard research index funds tax efficiency capital gains distributions active funds expense ratios OBSERVED | Google ↗ AI Mode ↗ | — | — | — | — | 1x of 1 |