The power of low-cost index funds

Investing is a zero-sum game – for every investor who outperforms the market, there will be another or others who underperform by the same amount. The costs of investing make outperforming the market significantly harder. The benefits of low-cost index fund investing are particularly evident over longer periods and when merged or liquidated active funds do not skew the outperformance of surviving funds, says Vanguard.