Those looking to explain what's set to be another bad year for hedge funds could do worse than blame their passion for tech. The funds have averaged a 4 percent gain year-to-date, but that pales next to a 9 percent rally in the S&P 500. Barring a sharp turnaround before December 31, this will be the eighth year since 2008 that hedge funds have underperformed, according to Goldman Sachs Group Inc. strategists including Ben Snider and David Kostin.