$19.)$

Which of the following is not true of index funds?

Multiple Choice

The typical expense ratio for index funds is $0\mathrm{.}50$ percent or more.

Sometimes they are called "passive" funds.

They are a low$-$cost alternative to managed mutual funds.

They do have managers that buy the securities in the index.

The S&P $500$ index outperforms the majority of funds over many years.