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Expanded Ratings Activity in November

With the advent of our new ratings methodology, November saw far expanded numbers of upgrades and downgrades compared with previous months.

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November saw the inauguration of Morningstar’s newly enhanced methodology for the Morningstar Analyst Rating for funds. Among several enhancements, we have shifted from assigning one rating to all a fund’s share classes to assigning unique ratings to each share class of a strategy based on their respective fee level.

Our manager research analysts assigned ratings to 198 strategies over the month of November, including 179 open-end funds, 14 exchange-traded funds, and five collective investment trusts. Of these strategies, three were new to coverage while the remaining 176 had been rated previously. However, while the number of strategies rated over the month of November is in line with previous months, the total number of ratings issued jumped as we started to rate funds at the share-class level.

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Gabriel Denis does not own shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.