A negative contributor to Davidson's rating is its lower-than-average portfolio management retention over the past five years, as elevated turnover bears watching. Lofty fees for the firm's open-end and exchange-traded funds are a weakness, contributing negatively to Davidson's rating and creating a larger performance hurdle. The firm's fund fees, on average, fall within the second most-expensive quintile of similarly distributed strategies.
In a competitive industry, Davidson does n't differentiate itself enough, leading to an Average Parent Pillar rating.