Reading the Chart
This chart ranks roll-up universes by the proportion of products outperforming their primary universe benchmark. The highlighted yellow line demarks the crossover between universes with greater/less than 50% of products outperforming.
Key Takeaways
In 2020, and in 2019, the majority of roll-up universes had more than 50% of products outperform their primary universe’s most common benchmark.
Outperforming managers in universes with a lower proportion of products beating their benchmarks have a unique opportunity to differentiate their strategies. And outperforming managers in universes with many similarly outperforming peers need product narratives that go beyond performance alone. In both cases, eVestment can help. Request a consultation on using eVestment data to tell your unique product story: solutions@evestment.com.
eVestment Roll-up Universes Ranked by the Proportion of Products Outperforming Their Primary Universe’s Most Common Benchmark
Source: eVestment Analytics
Most Common Manager-Preferred Primary Universe Benchmarks
Global Equity
| Universe | Benchmark |
|---|---|
| Global Large Cap Core Equity | MSCI World Large Cap-GD |
| Global All Cap Core Equity | MSCI World-GD |
| Global All Cap Growth Equity | MSCI World Growth-GD |
| Global Large Cap Growth Equity | MSCI World Large Cap Growth-GD |
| Global Large Cap Value Equity | MSCI World Large Cap Value-GD |
| Global All Cap Value Equity | MSCI World Value-GD |
| Global Enhanced Equity | MSCI World-GD |
| Global REIT | FTSE EPRA/NAREIT Developed |
| Global Extended Equity | MSCI World-GD |
| Global Small Cap Core Equity | MSCI World Small Cap-GD |
U.S. Equity
| Universe | Benchmark |
|---|---|
| US Large Cap Growth Equity | Russell 1000 Growth |
| US Large Cap Value Equity | Russell 1000 Value |
| US Large Cap Core Equity | S&P 500 |
| US Small Cap Growth Equity | Russell 2000 Growth |
| US Mid Cap Growth Equity | Russell MidCap Growth |
| US All Cap Core Equity | Russell 3000 |
| US Small Cap Value Equity | Russell 2000 Value |
| US Mid Cap Value Equity | Russell MidCap Value |
| US Small Cap Core Equity | Russell 2000 |
| US Mid Cap Core Equity | Russell MidCap |
International Equity
| Universe | Benchmark |
|---|---|
| ACWI ex-US All Cap Growth Eq | MSCI ACWI ex-US Growth-GD |
| EAFE Large Cap Core Equity | MSCI EAFE Large Cap-GD |
| EAFE All Cap Core Equity | MSCI EAFE-GD |
| EAFE All Cap Value Equity | MSCI EAFE Value-GD |
| ACWI ex-US All Cap Core Equity | MSCI ACWI ex-US-GD |
| EAFE Large Cap Value Equity | MSCI EAFE Large Cap Value-GD |
| EAFE All Cap Growth Equity | MSCI EAFE Growth-GD |
| ACWI ex-US Large Cap Growth Eq | MSCI ACWI ex-US Large Cap Growth-GD |
| EAFE Small Cap Core Equity | MSCI EAFE Small Cap-GD |
| ACWI ex-US Large Cap Value Eq | MSCI ACWI ex-US Large Cap Value-GD |
Emerging Markets Equity/Fixed Income
| Universe | Benchmark |
|---|---|
| Global Emerging Mkts All Cap Core Equity | MSCI EM-GD |
| Global Emerging Mkts All Cap Growth Equity | MSCI EM Growth-GD |
| Global Emerging Mkts Large Cap Core Equity | MSCI EM Large Cap-GD |
| Global Emerging Mkts All Cap Value Equity | MSCI EM Value-GD |
| Global Emerging Mkts Large Cap Growth Equity | MSCI EM Large Cap Growth-GD |
| Global Emerging Mkts Small Cap Equity | MSCI EM Small Cap-GD |
| Global EM Fixed Income - Blended Currency | 50% JPM GBI-EM Global Div/50% JPM EMBI Global Div |
| Global EM Fixed Income - Corporate Debt | JPM CEMBI Broad Diversified |
| Global EM Fixed Income - Hard Currency | JPM EMBI Global Diversified |
| Global EM Fixed Income - Local Currency | JPM GBI-EM Global Diversified |
Methodology Note:
Data excludes products which were not classified into eVestment primary universes or did not fit the theme of analysis (e.g. passives, SMA/Wrap, cash management, sector-focused equity, etc.).