Top-quartile Canadian funds still lost to their benchmarks in first half 2026
Over 10 years, 43.9 percent of Canadian Equity funds failed to survive and 37.5 percent of funds disappeared across all categories.
Canadian Focused Equity recorded the lowest 10-year survivorship of any category at 42.57 percent, from an opening universe of 101 funds.
Canadian Dividend and Income Equity was highest at 70.77 percent, from 65 funds.
The scorecard counts funds that did not survive a measured period as underperformers, using the full opportunity set at the start of the period as the denominator.
A 2026 paper by KJ Martijn Cremers of the University of Notre Dame, Jon Fulkerson of the University of Dayton and Timothy B. Riley of the University of Arkansas argues that the SPIVA methodology understates active fund performance.
