Since 1994, DALBAR's Quantitative Analysis of Investor Behavior (QAIB) has measured the effects of investor decisions to buy, sell and switch into and out of mutual funds over short and long-term timeframes. These effects are measured from the perspective of the investor and do not represent the performance of the investments themselves. The results consistently show that the average investor earns less – in many cases, much less – than mutual fund performance reports would suggest.

The goal of QAIB is to improve performance of both independent investors and financial advisors by managing behaviors that cause investors to act imprudently. QAIB offers guidance on how and where investor behaviors can be improved.

This 27th Annual QAIB report examines real investor returns in over 20 differentcategories of investors. The analysis covers the 30-year period to December 31, 2020,which encompasses the crash of 1987, bull market of the 90’s, the drop at the turn ofthe millennium, the crash of 2008, recovery periods leading up to the most recent bullmarket, and the unprecedented events of 2020.


Why do I need QAIB?

Find out how advisors use QAIB materials to mitigate return destroying behavior.

QAIB Store

Visit the store to browse the many tools and resources available to advisors and institutions.

QAIB News

Read what people are saying about DALBAR's annual study and see how this research is used when discussing investor behavior and market topics.


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For more information about QAIB, please contact Cory Clark at 617.624.7156 or visit the online store.