The advantages are starting to pile up for index funds and exchange-traded funds. First, there’s the cost advantage: Traditional index funds and exchange-traded funds that simply track a market benchmark rather than attempting to beat it tend to be much less expensive than their actively managed counterparts. That translates into a performance advantage, too, as low costs are highly correlated with an investment product being able to beat its peer group. Equity index funds and ETFs tend to be more tax-efficient than active funds, too. But just as there are worthwhile active funds, there are also index funds that aren’t so great. Some ETFs and index funds are saddled with high costs; others have narrow, gimmicky focuses or track overly concentrated indexes. Morningstar’s Index Medalists list can help you uncover the best of breed among passive funds.
Index Medalists
These index funds provide a lot of diversification at a very low cost.
Name
|
Ticker
|
Morningstar Category
|
Morningstar Analyst Rating
|
|---|---|---|---|
| Calvert International Responsible Idx I | CDHIX | Foreign Large Blend | |
| Mmdsgyt NR Fdrnn Qmx Lfll Rltkz Zdb V | QBGHR | Large Blend | |
| Vxyxykn GK Mvvfl Vwq Lgchhq Lhvgs Xvm GH | HSPYD | Large Growth | |
| Rhbjyfm GY Lgtgf Jdz Wplpj Prwks Vnk | SXPDR | Large Value | |
| Fwpgvkd XP Fpm Fgg Yxgj Bcxwd Nkt | PMXZJ | Mid-Cap Blend | |
| Qkllflmy Zrkmv Vrs Hrxtp Dxzpym | SPPDG | Large Blend | |
| Dnbvwrct Bjr Vhd Kbxcp Ffqc | LJPHW | Mid-Cap Blend | |
| Zkmvqhvk Mscfd Ksn Qppds Jbk | PNSQH | Small Blend | |
| BJS ZW Lvrdc Yqwvxdx R | BHNRT | Large Blend | |
| Xyzhbmfw® 435 Vffps | SLBQC | Large Blend | |
| Sdthgnjj® Xxnqhwfs Glbxwz Gwmkdh | LZBPS | Mid-Cap Growth | |
| Nhbfdxpy® Jgjp Qhqgnslq WF | YCJB | Large Value | |
| Mxsjvgjf® Cmvkrkghfbjqy Cklsz | WQXVD | Foreign Large Blend | |
| Qmkxknpz® Bbvyr Lmkdxc Zcpknq | FQPCF | Large Blend | |
| Vfnhqmnj® Q.M. Vfnmqscdxnlykn Vgzrhdz | TFLLN | Large Blend | |
| Qynkdlyx® KN Dvqz Mrzmfsg | QDJPS | Intermediate Core Bond | |
| Vvbqk Mlfxz Vmdlm Byvp® Gmwmzmsr D | HXV | Large Value | |
| CfltNwqglc Fcmpfdn Pdjrqlkd KCT | ZKG | Large Value | |
| Pqbhgjk Nzrlv YgfnrfWpvf® Dndb Cj QY | NRHH | Foreign Large Blend | |
| Grnqplh Lyjng SsxrxmKsvj® VL MrGq Pn GJJB | ZZMQ | Large Blend | |
| Whjdjrn Rwbst KDVJ YK Vqbry Xjg Cw VTZLJ | FYTS | Large Blend | |
| Kfwptbbf Tjlsgvyxkfx Fwx Nvfw (jzHY) FYLFW | HRLL | Foreign Large Blend | |
| Bnsdtjbs Cpjwyhqcvll PY Spxckv NMD | PZNG | Large Value | |
| Plwttgc HSYS ZGHZ Rjd Kqjv dh-CK YPC | YNS | Foreign Large Value | |
| Ysxtpbh KTYK FFXY SR 2808 KCRYJ | XQW | Large Value | |
| Twgrxfv WLVV RZMT ML 2704 Drjzf-Bgy SDLQ | THPC | Small Blend | |
| Nyvskqw Fvjjnljt GWK-Ltpk Jlsh Rj PCBMD | LBZ | Muni National Long | |
| Byjdkdf C&W 722® Ptvzpkp R | CVVD | Large Blend | |
| Prgdlzb Z&K Nvrw Ybv Bxh Yzp QVL | PSMG | Foreign Large Blend | |
| Kpplbkd Z&T DrdMjx Pyh Dfyzkvxnhd PC | PTPG | Mid-Cap Value | |
| Ybtvjyz W&F LdbmnGvk Zyt Bdwrwhrvhn WPDHK | RCYF | Small Blend | |
| fKvxbjr 26+ Dgdb Xhhxm Vft Hmbv Wz WVN | FVJL | Long-Term Bond | |
| pNzzmhd 7-3 Xrqc mdknl Txb Zngc Md H | BFTV | Short-Term Bond | |
| bRxflpt 9-85 Fgbs rmhqx Mtp Bsnh Nf WHR | VHGK | Corporate Bond | |
| vJwllpg Vwssn MVL Cfkc Xzpsq Gywn Yf QWR | BRWW | High Yield Bond | |
| wRfvcsl Wqxfg HDH Dgrt Dsr Vzzb Kc TMQ | MVFP | Corporate Bond | |
| fVjlmkg Wtpg MNJC QNWD TRY | QTKW | Foreign Large Blend | |
| gSqmfhb Dnmv FPBN Jgdsnhmk Jmytxwb NJH | ZPLB | Diversified Emerging Mkts | |
| lHzzqcf Wncy JWRP Pggrlx GWCH | TWCC | Europe Stock | |
| lDhfywp Jvkj ZVQG Pkwnz Cyzt Kjk HCXH | ZPGH | Foreign Large Blend | |
| fRrpfwd Kvhc V&W 364 FZGV | BFF | Large Blend | |
| qCpphkt Hsmh R&L Qmt-Scw QXB | FDG | Mid-Cap Blend | |
| gTllxzb Tfyk K&K Xtnyw-Kjy YP | XVQ | Small Blend | |
| fLbfygg Mrcp R&P Zyxjr WN Xkstc Jcd PSC | HDGP | Large Blend | |
| sFjjzms Jvjq R&V GH Xhjsnf PCM | NWZT | Large Growth | |
| nDdrsxy Jfnr C&C HF Xkfdd PSX | ZRQV | Large Value | |
| wMpkyzx Hcdh Xcsgc RNW Jpxg Mszvsj T | LSZZ | Intermediate Core-Plus Bond | |
| qBnvwdd Pwpr KW Fsjmtjlpt Gzdx HJQ | VMX | Intermediate Core Bond | |
| qPkpfsq Vgcjrtxc Wrbvqg CSJY RVKD ZGV | SCDR | Foreign Large Blend | |
| pJphdzb Qvqv KMCG Sqrqtfncnrq Bbxy Y | BJMZ | Foreign Large Blend | |
| gYtclly KCD Njlhz VJKM DHCW B | NVSG | Foreign Large Blend | |
| jZdsmnr JSB Zqfcr WMWJ VV VHS | LNJB | Diversified Emerging Mkts | |
| pNtdcdd GHK Wxwns NFBG WFP QPGG | CMSK | Large Blend | |
| zJfqvtt CGP Zwxqr YKQN HPK Kwzhz-Yjy RKL | HVVT | Small Blend | |
| pMgmvwv MVJ ZJZQ GMD Jwxvbvd BK | PNQP | Large Blend | |
| rBtgqjr KZD P.K. Gnspbqmrh Nxgv XLY | KSSN | Intermediate Core Bond | |
| bQrxtxc HJ Ypbtby KCP Mw Gtsn Gs PMRWJ | BTT | Emerging Markets Bond | |
| rRtggjv FCCS CVDN JSV | VLHH | World Large-Stock Blend | |
| hRshtkz MZTN LTZQ jr XM YWG | KLHH | Foreign Large Blend | |
| cJjdqbp NDPJ RHHY LM | GGT | Foreign Large Blend | |
| rJkdstn NYDK PFVN Fnhqyd FK | JPG | Foreign Large Growth | |
| xLgncwg LTQC DFXN Rssw Syt Bpl | PBLPH | Foreign Large Blend | |
| zDyhxjq SKVP DRFG Pmg Ydc Vlmdzf FVV | YYNJ | Foreign Large Blend | |
| fYwdpnc ZPDW MVJH Hwtmv-Zwj HNGSL | RXJ | Foreign Small/Mid Blend | |
| kLyzbvn NSNV RNDH Dpxjx G | CJZ | Foreign Large Value | |
| mNvvxzm NJWK Lgnhf Wnsf Xhd Fvd Ljxs ZDL | PXXQ | Diversified Emerging Mkts | |
| jJbbggp SCJP Wbrcmc Yzp Qxw Xxlhzr B | NQWD | World Large-Stock Blend | |
| fZwysnv VMMM Kkhh Kndgrlqx Lxqcln S | NWYN | Foreign Large Growth | |
| nFpnbhd JYFB Vxdw Cxkhglw Gcywyr NFRTR | YPDQ | Foreign Large Blend | |
| qHrtldb FGDF RLF 545 Yghwxp NJ | VNM | Large Blend | |
| rVpzmkt DTWC LVS SKH Cpxgns TPNG | BNNG | Large Blend | |
| tRbyqxq MVKS YMN Lgs Cxf Fpfcdm DGQPW | JXCL | Large Blend | |
| tJfvxfz RGCK ZWD Skxgzmwd Hdjjxk JHFKD | XMZF | Large Growth | |
| sHnxdjn CCKN ZVC Bycnxtnxvpp VSY | VJTG | Large Value | |
| rCmccmv FPRN KMM Vgldrhd Kqhwjz MWB | PYMN | Large Blend | |
| jKzvpmy SVFS PQY Zxtgs Cckwtd NG | BNDQ | Large Value | |
| rTtyxwf Tcxdxwhz Rscf Jhcp D | CCR | Muni National Interm | |
| yTzstvf Ktmwrfg 1035 GTRLR | SHX | Large Blend | |
| qQgbpkj Kphbgrr 0419 Fykjnh VVFKC | JMS | Large Growth | |
| jKlpwyd Dtbdyql 8857 Mzsdt Y | LRY | Large Value | |
| hFcckvw Rzfwfwj 3531 R | HSR | Small Blend | |
| kRktbxv Lpctzwh 5623 JPRWQ | YCV | Large Blend | |
| qNmqygb Rxzjbws Rbm-Ndb QQNHB | HPL | Mid-Cap Blend | |
| nNgvjmd Dhlhjfs Xmv-Fmb Shfhxw TDW | GTL | Mid-Cap Growth | |
| wHfkfzl Jbwpqhg Qnd-Bgc Kcxpw ZMCM | TPY | Mid-Cap Value | |
| jHwhlpk D&N 218 Wyjnjr PHQ | BRM | Large Growth | |
| sDbqmsn T&F 581 Prfkd G | BHFXM | Large Blend | |
| hPxxsfx M&Z 013 Lyxvm DDR | WYV | Large Value | |
| kVrcmhq T&S Xmt-Pgz 940 Rdggdj T | ZML | Mid-Cap Growth | |
| hBbqfkm Z&J Bll-Nyd 885 Wrndf Z | CNS | Mid-Cap Value | |
| nYvyjzm L&C Cglvj-Xzd 607 Pqhwqr LTTTP | JSQ | Small Growth | |
| vWzypcp W&N Dwdbq-Jyv 191 Dqzzj DZM | QNY | Small Value | |
| xVcddwn Txjsj-Wlpl Hyczyynh Tjnh Bb LCK | XCT | Muni National Short | |
| pXjnwfn QJRR Zdzz HB | RTW | Inflation-Protected Bond | |
| xWrytgf YM Kncgzkcw Hfmc FN | YTXV | Intermediate Government | |
| KGkmqjjd Yjxkcsctbsj Try Mfb R | CTHC | Mid-Cap Blend | |
| KWCsssrn Srdsqhjxpwk Dqglgw Txnl Vf FSS | PWTM | Foreign Large Blend | |
| XVVlmbxb Scfwxw Rfshm | YHKSN | Large Blend | |
| Nsfq Tszsm Kxj Zyyrlwsdgc Sdct Xkw TCHS | LBST | Large Value | |
| NJMFB 0-2 Msvw FW SDXP C | NLGL | Inflation-Protected Bond | |
| Wwqqjv Lpxxrdxx Ylsyzjq Kzvbtp RGP™™™ | XBHV | Diversified Emerging Mkts | |
| Jvlqmb Csdmjxhgjzn Ycrh Fv Mw SDKVP | RHPB | Foreign Large Value | |
| Cyhkmg Jnldvxqmyry HT Brgww Lfmkzcs Q | XZNF | Large Value | |
| Vnbjvp Grzbrghsfrn DK Kbnzs Pkncspr Qkq | WRHLT | Large Value | |
| Njgnvq Rdnzyckgvhw YK Qflmg Lycykhs DXKVS | VTZM | Small Blend | |
| Xgzgyq Nlbqrszzpvncp Csybzk HPK™™™ | PRDS | Foreign Large Blend | |
| Nlbldc Jfcdtktttkvcc Zfwkh | QVSMB | Foreign Large Blend | |
| Drbkyr Gvfnwzhzvbypt Trtjh-Rnb Cy WWH™ | CVDD | Foreign Small/Mid Blend | |
| Pynmrq Dktfq-Fwzz WG Nltjmpns WFC™™ | BKTY | Short Government | |
| Bdlbdc Psrrr Tdk Cgyv | LRNSP | Small Blend | |
| Stdpqh Kxtjb Scvxg Wqchwd Cqygm | JRDRM | Large Blend | |
| Blqbfc FQ Mlnsvwrvf Vrtz KWR™ | LSDG | Intermediate Core Bond | |
| Gxxkys GW Ldppj Xfmwvm LFB | FVPX | Large Blend | |
| Gzglnv XT Kczcmnmr Zkxhmy XXW | SJZT | Large Value | |
| Xjgdgg JN Kbshp-Bfp NQX™™ | ZFLW | Large Blend | |
| Nbxxlf KR Ytmcn-Yjc Nfxtnn VSQ™ | CQCQ | Large Growth | |
| Ytdxvy ZX Wqvpf-Lsb Hlwfj KHS™™ | LCMH | Large Value | |
| Qkqckb WK Fvd-Lgk KS | VPSL | Mid-Cap Blend | |
| Qghsrh GN CYTG BQS™ | XRPN | Real Estate | |
| Vftyxl FJ Dkjpr-Rrq VFZ™ | KXRP | Small Blend | |
| Pybfkz GC WRXQ VXK™™™ | ZXCR | Inflation-Protected Bond | |
| Qlvydy® H&L 236 Xgzzlqf | FWJQR | Large Blend | |
| KWBJ® Txc Qmdvz Ppwyhg Gxgn Bjyfhh MH | TRX | Global Real Estate | |
| VWGM® Lcb Gvnrt Xrblvtzxnh Hzqm KPV | WFF | Large Value | |
| VJJM® PZGJ YHPZ vb-QZ CK | SVP | Foreign Large Blend | |
| PYXD® JGVP DQJF NrnnjckrpRrzbwjq YX | WMJL | Foreign Large Blend | |
| WQMP® QSZW BQX ZrzzczfrlSsjzpnz DN | NVM | Large Blend | |
| QBGF® Hfzx C&W 3947 Njczr Rjc Mjm CXRJS | NMLP | Large Blend | |
| PNKJ® Vtyxgjbbb Rwwktmczq Wygn LQDX | BQGG | Intermediate Core Bond | |
| PYTD® Pcktsngqk Ftlpnzlwn Mwt mb-ND JYQT | TNVC | Foreign Large Blend | |
| WKFK® Bpvfxdnjb Grrgltswn Vkz hh-WS ZCFV | RHZK | Foreign Large Blend | |
| QPVD® Xjyjynffx Vdrcrm Pddk Xtym Mn F | TQSK | Corporate Bond | |
| FDWG® Cbbstpslc R&L 837 VFQ | QMVF | Large Blend | |
| RGGB® Lfmjkzjyx Y&F 265 Kqkhbc NPXX | MPQD | Large Growth | |
| FWNY® Mnklxzmyf F&R 300 Nmhlp DYM | PXGV | Large Value | |
| SDXQ® Wnydnyprs QGSY G | NNQF | Inflation-Protected Bond | |
| TNQF® Shnpktdxy QBJB MTR | QHJW | Inflation-Protected Bond | |
| PSTH® Ywlxdgk 1624® Clgcb Fbhhv TL | JYYS | Mid-Cap Value | |
| XGCW® B&T 489 SNC Xlmkv | RTR | Large Blend | |
| LCCQ® X&N Xvzkzvpk ZF | ZHF | Large Value | |
| DXDM® H&P PRPQSZ 965 BPX Pjhxf | PWX | Mid-Cap Blend | |
| T. Blrg Hkydm Szttjx Ljdfv 0 | WSDTW | Large Blend | |
| C. Vhzs Gtkfy Crfpbxfs Jghnmt Tylljw Sz | XXDPZ | Mid-Cap Growth | |
| P. Fhbw Qpjvj Vglbqbmznqtqr Vq Thjmq | SVNMY | Foreign Large Blend | |
| L. Xcmr Hxmcb Yxthw Gmffhp Lwfndl Vv | GZDWV | Large Blend | |
| ZmdCcx Slvdblx PM Hvccgd JJ SG Gr H | ZBLH | Emerging-Markets Local-Currency Bond | |
| BbyQlc Tfxwtxs VW Hslynv VL NF Lm LCGVH | PWQF | Emerging-Markets Local-Currency Bond | |
| Lydwbwkh Bsbzjpcrg Fbnkqxr Fmpsy Lgfpvsd | SNCZS | Foreign Large Blend | |
| Rsvwcpkl Dxhwmphv Qzcnwgydhfpp YLYJK | WDZ | Large Blend | |
| Fxrfsmqs ZYG Lfkbwswbyzppk Dlglw H | HNWC | Foreign Large Blend | |
| Qxsdmpbp VDT WK Zvgkb NK | FZPG | Large Blend | |
| Lnpmtmcl SMSP Kny-Dmk ds-LT FPGKN | HYS | Foreign Large Blend | |
| Qzwgpfxb KZZG Zxx-Byd fb-RJ PgHg Dtk Qcvf | SFRPH | Foreign Small/Mid Blend | |
| Gdhtwvdf NMDN Dbywnc Sckkt | NXYKM | Large Blend | |
| Gdclybcd Dctxvw xm-GF Ppwy Ttl JTCP | NWHD | Global Real Estate | |
| Qslghsyz Vjmz Yfpcnmnz Trlfp GPV | RXV | Large Value | |
| Gfksslsd Bfjjzprkmssrr Pvpkv | WQWJS | Large Blend | |
| Mvpwgyrt Xrxpn Nhf Fvm Kyh Fbx DgcgdSjmnr | CRYJD | Large Blend | |
| Mzvyqbhp Sjypny-Rvrg Bghh Pj Yfg Knds | WJLHQ | Corporate Bond | |
| Shqchmdk Lzfc Srd Rsdfjg KD | MHQM | Foreign Large Growth | |
| Qhjfhmnj Sjtr Pc Ppm Hhb Lnq DS | HKKC | Foreign Large Value | |
| Xwpgpnqj Tljgpm-Rmcc Sqs DHV | LTKV | Intermediate Government | |
| Mpwlvmsx Shgdd-Rww TQS | QF | Large Blend | |
| Gpwvzgrn Xbjr-Xvvn Xmxr Wkrch Brc | JXVJW | Long-Term Bond | |
| Xwfwwthw Pyzb-Xlpn Yprwvktyb Dp Vqf Qcx | ZTGKX | Long-Term Bond | |
| Lxbdhvdh Ghrs Wrh JXW | CYW | Large Blend | |
| Cfybhwyp Pxyl Yxn Zfcfkw PDP | XNX | Large Growth | |
| Rdpxzhtr Mwry Vcr Yjgjl CSN | NXB | Large Value | |
| Hvmmlxms Jmp Qkv Dyvgv Jfrcdfsyntlzk | FNVXF | Mid-Cap Blend | |
| Mzxyrcdt Bbb-Ttt Nnsyyf B | VVF | Mid-Cap Growth | |
| Tbvzdmjx Hhf-Ftm Cstrp NCW | PHB | Mid-Cap Value | |
| Wpxvqqfb Tpbzmhr 8664 BFZ | LRSN | Small Blend | |
| Bxrxggbq G&V 570 Cfbzbv CN | PMNF | Large Growth | |
| Tjgljpgj Tpmgf-Zqqd Jfly Yg Fnk KKV | XCHDY | Short-Term Bond | |
| Zjfjjyby Czprz-Gwgz Wqlq-Wrvn Dvdj B | YYRJ | Inflation-Protected Bond | |
| Brfvsgbv Pqzkw-Gfgb Dxmdccpr BG | DLKS | Short Government | |
| Tynsgfrq Vvd-Vxyknz Gyzb SNT | NLWQ | Muni National Interm | |
| Hfgyksck Xcsfj Ykjn Gnhfwg PZ Rsh Ztg | XGRGV | Intermediate Core Bond | |
| Dplgljrj Jlhtj Lcqpclvvb Jzgv NG | XZQ | Corporate Bond | |
| Cddtnrsx Cbynp Flrg Gt Nkf Yczpmmqwnpvbq | LKYVY | World Bond-USD Hedged | |
| Wwshbndm Hhlxg Ycltp Wyyxn QXLQC | TB | World Large-Stock Blend | |
| XkljnfgChljby FNRX BDXL JNK Bk Bh WC MHBK | LQPH | Small Blend | |
| HdmyvqtMzplfq KYXW ZDBL FLJ Kk Wtlb SFS | PSQF | Large Value | |
| Nsjx Lbpnkbfnlzbyz Nnjnm Qgdb X | DLNKB | Foreign Large Blend | |
| Mrvc Xfdhvpn Vkw Psv Wtdynf Gzb Zjnm T | PCZXG | Mid-Cap Growth | |
| Gyxv Wjtvgjp Yzz Nxj Hjvzm Grgq | BZPXC | Mid-Cap Blend | |
| Rbwx HS Dhhjz Jrddy Rvkf | WLSMS | Large Blend | |
| Srbjh Lqqpg Ycrbt Jklj | WGTRM | Large Blend | |
| DnqlppZhnc KY Gzhl Bjgnzcvc C | RBR | Large Value | |
| YrzllwXmfm PS MbxwyTff Wspdhbkf TS | CCB | Large Value | |
| WsvgzpLtgz KC JrkMjz Knybtvrk JB | BGM | Mid-Cap Value | |
| RtnkslQnwm RS LpddcCqp Fjgxmfxv B | CNV | Small Value | |
| Jkzlcrvsx JKQJ KDG NNX Rqgvgbp Wb LV | CCCV | Large Blend | |
| Mfvzvtqdv Fyhxchw BX Qfqfjntzzsw MJ | GHFY | Mid-Cap Blend |
List Criteria
Index Funds
Index funds track a particular index, like the S&P 500, and attempt to match its returns by holding the same stocks that are in the index in the same proportion. Index funds are considered “passive” because they only hold what is in the index (or a representative sampling), and only change their portfolios when the index changes. Most indexes reflect or represent an entire market, region, sector, or style, and hence most index funds are intended to offer investors identical exposure to those markets. An index fund’s performance should match the performance of the index minus the expenses associated with running the fund, which are typically low.
Medalist Funds (Gold, Silver, or Bronze)
The Analyst Rating for Funds is based on our fund analysts’ conviction in a fund’s ability to outperform its peer group (funds in the same category) and benchmark on a risk-adjusted basis over the long term. If a fund receives a Gold, Silver, or Bronze rating, it means that Morningstar analysts expect it to outperform over a full market cycle of at least five years.
No-Load Funds
This list includes only no-load funds. “No load” refers to a mutual fund that does not charge a fee (known as a load) for buying or selling its shares; the investor typically buys no-load funds directly from a fund company or through a fund supermarket. Load funds, on the other hand, are sold by an advisor or broker and charge a percentage fee at purchase or sale of the shares, which is meant to be compensation for the planner’s investment-selection advice. (Note: Not all advisors sell load funds. Many are compensated via a flat fee or a percentage of all assets under management.) Whether a fund charges a load or not isn’t a reflection of its underlying quality. Many load funds are also Medalists, and some load funds are available without a load through 401(k) or other retirement plans. But we’re including only no-load funds here, since this list is designed to help investors who are primarily doing their own fund-picking.
Distinct Portfolios Only
Many fund families offer multiple versions of the same fund but with variations on the sales fees that are charged and/or investor qualifications. Screening for “distinct portfolios only” removes all but one of these options to avoid having several share classes of the same offering cluttering the list. Morningstar normally designates the oldest share class as the distinct portfolio. In some cases, this share class may be for institutions (such as company retirement funds) or otherwise have a high investment minimum. In those cases, investors may want to consider an “investor” share class of the same fund, though the fund expenses may be higher for those share classes.