Understanding Mutual Fund Competitive Advantages
What sets the great funds apart from the good?
What sets the great funds apart from the good?
In essence, the Morningstar Medalist rating is about competitive advantages. If we think a fund has enough competitive advantages to outperform its peers, we give it a Morningstar Analyst Rating of Bronze. If it has enough advantages to have a good chance to outperform its benchmark, too, we rate it Silver or Gold.
Our analysts spend the bulk of their time assessing whether a fund has competitive advantages.
Russel Kinnel has a position in the following securities mentioned above: PTTRX, MAPIX. Find out about Morningstar’s editorial policies.