Wall Street is full of extremely smart, well-educated, highly compensated individuals in charge of managing billions of dollars of investors' money. But the truth is, most of them aren't worth their fees.

You don't need to be a Wall Street insider to beat most actively managed mutual funds. A simple investment strategy has outperformed nearly 88% of funds over the past 15 years, and its relative performance typically gets better over time. For long-term investors, it's one of the best ways to grow your wealth.

All you have to do is buy an S&P 500 index fund like the Vanguard S&P 500 ETF (NYSEMKT: VOO). That's because the vast majority of actively managed large-cap mutual funds fail to outperform the benchmark index after accounting for the fees they charge.

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Source Fool.com