The Morningstar Analyst Ratings, known informally as the medalist rating, are based on our manager research analysts' conviction in the fund's ability to outperform its peer group and/or relevant benchmark on a risk-adjusted basis over the long term.
If a fund receives a Gold, Silver, or Bronze rating, it means Morningstar analysts think highly of the fund and expect it to outperform over a full market cycle of at least five years.
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Karen Wallace does not own shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.