Nils Helms, Reinhold Hölscher, Matthias Nelde

• Robo-managers offer automated asset management; however, their overall performance is highly debated. We analyze 15 robo-managers from Germany, the United States and the United Kingdom by conducting a comprehensive qualitative and quantitative study. The qualitative comparison shows considerable differences between the various robo-managers, not only across but also within countries. The quantitative evaluation utilizes different measures to evaluate the performance of the robo-manager sample. Our results indicate that each country has one particularly favourable robo-manager. Furthermore, we find that the costs and characteristics of rebalancing measures have only a small effect on performance.