On June 6, 2019 Nummo released its 2019 year-to-date robo-advisor performance ranking. All portfolio categories – Conservative, Income, Balanced, Growth and Value – have seen remarkable moves during one of the most volatile markets in more than a decade.
The results show some of the biggest names underperforming what has been a challenging period for any investor, human or machine.
Only a few firms topped the YTD performance of the S&P 500 Index, which was up 14.06% as of May 17. The majority of robo-advisors, including those from Charles Schwab, Betterment, SigFig, Morgan Stanley, AssetBuilder and SoFi Wealth did not make the top three ranking in any portfolio category.
2019 has seen the appearance of many new names among better known ones atop the five portfolio categories. Looking at just performance, without factoring in cost or any qualitative factors as Nummo does in its annual survey, results show names like Sogo Marketriders, Stash Investments, M1 Finance, Fidelity, Acorns and Wealthfront leading the industry YTD.
TIAA, one of the largest investment managers ranked within the top 5 in the Growth, Balanced and Conservative categories.