Index Funds: Old Dogs Learn New Tricks

By Anonymous

On the 42nd birthday of index funds, the company that derided them has taken the lead on costs

Happy birthday index funds—my how you’ve grown.

The idea of passive investing is a lot older than the vehicle that first allowed the public to partake in it. But Vanguard’s S&P 500 mutual fund, which just turned 42, was no rousing success at first, raising just over $11 million, a fraction of what was expected.

At the time Fidelity boss...