Chasing Alpha: SPIVA 2025, Active vs Passive Investing, and Why Most Managers Underperform

About this episode

In this episode, Rob Duncan and Dr. Joe Nelesen discuss the SPIVA Canada 2025 report and the ongoing debate between active and passive investing.

In this episode of the Global Thinking Podcast , host Rob Duncan sits down with Dr. Joe Nelesen from S&P Dow Jones Indices to break down the SPIVA Canada 2025 report and what it reveals about active vs passive investing . The data is clear. Most active managers underperform their benchmarks — not just in 2025, but over longer time horizons. This raises a critical question for investors and advisors alike. Is it still worth chasing alpha? Rob and Joe explore: Why active managers consistently struggle to beat the market The role of fees, market efficiency, and survivorship bias Where active investing may still have an edge The continued rise of ETFs and index investing How AI, tokenization, and evolving market structure could shape the future Whether you are a portfolio manager, financial advisor, or individual investor, this episode provides a data-driven look at one of the most important debates in investing today. If you are building portfolios in today's market, understanding the trade-offs between active and passive investing has never been more important. Chapters 00:00 Introduction to Global Thinking Podcast 02:31 Understanding the SPIVA Report Card 04:35 Performance of…

People in this episode

Host: Rob Duncan

Guest: Dr Joe Nelesen

Topics covered

• active investing
• passive investing
• SPIVA Canada 2025 report
• market efficiency
• ETFs
• index investing
• AI
• tokenization

Keywords

• alpha
• investment management
• performance benchmarks
• fees
• survivorship bias

Mentioned in this episode

Products: ETFs, index funds

Books & works: Introduction to Global Thinking Podcast, Understanding the SPIVA Report Card, The Future of Active Management

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