The Forbes fund rating system, which goes back half a century, looks at a minimum of two full market cycles and awards separate performance grades for bull and bear markets.
While the prolonged bullmarket may have distracted funds from focusing on fees, diminishing performance and heightened cost concerns suggest that now is the time to revisit the issue.
Momentum-chasing investors are setting themselves up for a fall he warns, if they try and extrapolate future performance from the 30-year bull run in the bond market.