FYI: Hedge funds entered 2019 coming off their ninth-straight year of trailing U.S. stocks (as measured by the S&P 500 Index) by significant margins.
And for the 10-year period ending 2017—one that included the worst bear market in the post-Depression era—the HFRX Global Hedge Fund Index produced a negative return (-0.4%), underperforming every single major equity and bond asset class.
So how did hedge funds fare in 2018? The following table shows the returns for various equity and fixed-income indexes. The HFRX Global Hedge Fund Index returned -6.7%.
Regards,
Ted
https://www.etf.com/sections/index-investor-corner/swedroe-2018-report-card-hedge-funds