FYI: To date, an overwhelming body of academic research (including on active share as a predictor) has demonstrated that a mutual fund’s past performance not only fails to guarantee its future performance (as the required SEC disclaimer states), but has almost no value whatsoever as a predictor—with the exception that poor performance, combined with high expenses, typically predicts future poor performance.
Regards,
Ted
http://www.etf.com/sections/index-investor-corner/swedroe-avoid-high-ranked-funds?nopaging=1
