Death, Taxes, and Short-Term Underperformance

Research from Brandes Institute on Death, Taxes, and Short-Term Underperformance. This research focuses on the performance results of a wide range of U.S. mutual funds over the last decade. Observations suggest that underperformance in shorter time periods - such as one quarter, one year, or even three years - is to be expected, even for portfolios that perform strongly over the long term.