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According to the latest SPIVA U.S. Scorecard report, broader isn't always better for active managers. Following a volatile start to the year, the S&P 500 did rebound sharply in the second quarter to gain 10% through June 30 thanks to robust corporate earnings.

Allworth Financial LP lessened its position in SPDR Portfolio S&P 400 Mid Cap ETF (NYSEARCA:SPMD) by 2.9% in the undefined quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 292,169 shares of the company's stock after selling 8,714 shares during the quarter. Allworth Financial

Looking for broad exposure to the Mid Cap Blend segment of the US equity market? You should consider the State Street SPDR Portfolio S&P 400 Mid Cap ETF (SPMD), a passively managed exchange traded fund launched on November 8, 2005.

State Street quietly sells two ETFs tracking the exact same mid-cap index at wildly different prices, and most investors holding the older one have no idea how much that gap costs them over time.