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Fund Spy: Morningstar Medalist Edition

Analyst Rating Changes for December

Three upgrades, five downgrades, and three new ratings.

Mentioned: , , , , , , , , ,

Morningstar analysts upgraded the Analyst Ratings of three funds in December 2014, while downgrading five and initiating three. Here's a look at each.

Upgrades
Appearances are less than they seem at  Fidelity Intermediate Bond (FTHRX). Its performance rankings relative to its category and the Barclays U.S. Aggregate Bond Index are no great shakes. But its results looks better on a risk-adjusted basis versus its prospectus benchmark, the Barclays Intermediate Government/Credit Index, and other funds that seek to offer less-aggressive core fixed-income exposure. Indeed, the fund and its experienced, well-resourced management team have proved to be a good enough to warrant an upgrade to Silver from Bronze.

Dan Culloton does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.