Miller

Miller open-end and exchange-traded products are more expensive than similarly distributed funds at other highly-rated asset managers, on average in the second most expensive quintile of category peers. The higher expense profile contributes negatively to the firm's overall stewardship rating and creates a larger performance hurdle. The Miller roster of open-end and exchange-traded funds has had below-average risk-adjusted performance, as evidenced by its average five-year Morningstar Rating of 2.4 stars. The longest-tenured managers’ average asset-weighted tenure within the firm is 14 years, bringing a wealth of knowledge through multiple market cycles to the table and contributing positively to the rating.