What the research says

Plain-English summaries of the evidence on investing: from academic papers, regulators’ studies and long-run data. Where the evidence is mixed, the guides say so.

Start with Active vs passive funds, the evidence the other summaries build on.

Each summary states the question, the best evidence available, how big the effect is and the caveats, with links to the original papers and data so you can check the working. They are written for someone with no background in finance. When a new edition of an underlying study is published, the summary is updated and the review date changes; where the evidence is thin or contested, the guide says that rather than picking a side.