Longevity at the firm has been impressive. Its three-year risk-adjusted success ratio is 75%, meaning that 75% of the products have both survived and beaten their respective category median on a risk-adjusted basis. A high success ratio indicates good performance and provides insight into a firm’s discipline around investment strategy and product development. New Covenant's risk-adjusted performance compares similarly to competitors. Across its open-end and exchange-traded funds, the firm’s average five-year Morningstar Rating is 3.5 stars, which is about standard. The longest-tenured managers’ average tenure within the firm is ten years, bringing a wealth of knowledge through a complete market cycle and ultimately contributing positively to the rating.
In a competitive industry, New Covenant does n't differentiate itself enough, leading to an Average Parent Pillar rating.