Midas

Fees on the firm's open-end and exchange-traded funds are a weakness, contributing negatively to the rating and creating a larger performance hurdle on funds. On average, Midas charges fees on its funds that are in the most expensive quintile of similarly distributed funds. With the current market environment of fee compression, this is cause for concern, as investors may flock over time to alternate asset managers to get a better deal. The firm's risk-adjusted performance is poor. Across all open-end and exchange-traded products, the firm’s average overall Morningstar Rating is 1.5 stars. On average, Midas's longest-tenured portfolio managers have accrued 12 years of tenure. This level of manager experience should give investors confidence in the group's ability to handle differing market conditions.