The result could be a cheap competitor for the hedge-fund titans, akin to the index-tracking funds that have eaten into the market shares of active fund managers.

最终将形成这些对冲基金巨头的廉价竞争者。 这类似于指数追踪基金（index-tracking fund）已经蚕食了指数基金(active fund)经理们所控制的市场份额。

youdao

We can see this lack of future scenario development and close competitor tracking has confused Microsoft.

FORBES: Get Rich, not Lost - Change your planning - Apple, Google v Nokia, Samsung, RIM, Microsoft in Smartphones

Once it rolls that product out, it will be a fierce competitor with other ad networks whose imperfect knowledge about you is gleamed from dropping cookies and tracking your browser activity.

FORBES: GM Kiss-off Is Why Facebook Needs Ads That Follow Users Around The Web