Because the business philosophy of passive funds thinks that it is difficult to outperform the broader market, the operation should be reduced as much as possible, so the cost is relatively low, while the business philosophy of active funds thinks that it can outperform the broader market, so it is necessary to adjust the shareholding ratio and ownership structure when encountering opportunities, resulting in more handling fees and high costs;

In addition, the management fees, subscription and redemption fees of passive funds are also lower than those of active funds;

And the state of the stock market in 2009. In the case of market fluctuation, reducing operations can reduce costs. Because the stock price will always return after falling, which is conducive to the operation of passive funds.