Hedge Funds Continue To Fail

The first half of 2015 again brought hedge funds little in the way of relief from their historically poor performance.

Hedge funds entered 2015 coming off their sixth-straight year of trailing U.S. stocks by significant margins. And for the 10-year period from 2005 through 2014—which includes the worst bear market in the post-Depression era—the HFRX Global Hedge Fund Index returned just 0.7 percent per year, underperforming every single major equity and bond asset class.

The table below shows the returns of the HFRX Global Hedge Fund Index for the first six months of 2015, as well as the 10-year period from 2005 through 2014. It also shows returns for major equity asset classes and one-, five- and 20-year Treasurys.

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