"The study concludes that the choice of active or passive investing should be based largely on the needs and preferences of the investor and the cost of providing asset allocation and capital preservation strategies that are not available in passive fund."

[COMMENTARY] The predominant trend in recent years has favored passive funds. In fact, active management has been widely ridiculed even by the likes of Warren Buffet. Now comes Dalbar, a highly distinguished research authority on these matters, adding fuel to the debate of active versus passive investing.
Dalbar Announces Active versus Passive Analysis, press release, February 27, 2017, Dalbar, USA.