 I mean, that's partly true. I think the other thing I would point to is that the increased concentration in markets, particularly in the U.S., in the Magnificent Seven and the like, means that it's very, very difficult for active asset managers to be overweight those stocks as a group. And that's really a challenge. And until that reverses, it will be more difficult for active managers in the equity space to outperform, certainly in large caps.