During volatile market conditions actively managed funds (often with higher fees) will very often outperform indexed funds.
Apart from the ones which don't.
Edit: yes, long only funds will suffer as a group in downward cycles but I've yet to see compelling evidence that active funds are better in the long run.
Apart from the ones which don't.
Edit: yes, long only funds will suffer as a group in downward cycles but I've yet to see compelling evidence that active funds are better in the long run.