Market Extra: How a 12-year Vanguard win streak makes it the ‘Amazon of wealth management’

Economist Burton Malkeil has called the index fund “the most important financial innovation that has been created for the individual investor.” And one look at index-fund pioneer Vanguard’s performance over the past decade shows that many individual investors agree.

For the past 12 years, Vanguard has taken in more money on a net basis than any other fund firm, according to data from Morningstar. Only one other firm, BlackRock BLK, -0.20% subsidiary iShares, has appeared on the list of top five net-flow recipients every year since 2007, and at nearly $2 trillion in net inflows since that time, Vanguard has attracted more than double the dollar amount iShares has over the past 12 years.

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