Which type on investment strategy, passive or active carry higher risk?

https://assetbuilder.com/knowledge-center/artic...

... how would You find out that your active manger is the good one in the first place ? ...​​​

I feel that the nomenclature used here (passive vs active) are overused and misused. The real question and decision you are trying to make is:
(A) Buy ETFs
(B) Rely on other humans to manage your money (mutual funds, investment linked policies, REITS etc)
(C) Do-it-yourself

Option A gives you “market” returns, which average around 7-10% annually. Option B requires some amount of thought and selection. Most funds do not outperform the market. Most financial advisors’ incentives are not completely aligned with yours.
Option C is what i encourage most people to do (eventually). Sure it takes time and tons of self-education. Maybe you can’t do it in your first ten years of your working life (you don’t have much capital anyway). Take 10 years to learn.

I always feel that Personal Finance comprise two different components. The Finance part is easy, with plenty of literature on the topic. The Personal part, because it’s personal, is very difficult, and the option you choose, ultimately depends on your lifestyle, lifestyle needs, preferences etc.

If you have a long term goal (e.g. retire at age 65 with $5M in the bank), but you don’t think you will ever earn more than 100k a year, then Option C is likely the only way you can achieve your goal. Better start cracking.

If you have a long term goal (e.g. retire at age 65 with $5M in the bank), but you are on track to earn 500k a year, then Option A is easiest. (Actually, any option will probably get you there, if you are not buying ferraris on a regular basis).