Morningstar Analyst Rating
Total 1-Year Return (%)
Total 3-Year Return (%)
Total 5-Year Return (%)
The Analyst Rating for funds reflects a Morningstar analyst’s qualitative assessment of a fund’s future prospects. This is different than the star rating, which is purely quantitative and backward-looking.
- The Analyst Rating is based on the analyst’s conviction in the fund’s ability to perform better than similar funds over the long term.
- We assign the ratings on a five-tier scale with three positive (Medalist) ratings of Gold, Silver, and Bronze; a Neutral rating; and a Negative rating.
- If a fund receives a Gold, Silver, or Bronze Medalist rating, that means we expect it to perform better than similar funds over a full market cycle of at least five years.
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.
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.