A version of this article was originally published in the first-quarter 2016 edition of Morningstar Prospects, which highlights promising managers that Morningstar Manager Research analysts currently do not cover but may cover in the future. The full list and publication are available to subscribers of Morningstar Direct.
We added an exchange-traded fund for the first time to Morningstar Prospects earlier this year. ETFs have always been eligible for the list of up-and-coming or under-the-radar investment strategies that Morningstar Manager Research thinks might be worthy of full coverage someday. Many ETFs, however, track common indexes, follow strategic weighting schemes that don't have long track records outside of product development laboratories, or are unattractively priced relative to rival ETFs.
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Dan Culloton does not own shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.