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Funds

Medalist Funds

These funds receive our analysts’ highest ratings: Gold, Silver, or Bronze.

List of investments
Name
Ticker
Category
Morningstar Rating
Morningstar Analyst Rating
Total 1-Year Return (%)
Total 3-Year Return (%)
Total 5-Year Return (%)
Managed Futures
Small Value
High Yield Bond
Large Value
Diversified Emerging Mkts
Small Growth
Allocation—50% to 70% Equity
Large Value
Large Growth
Foreign Large Blend
Small Blend
Large Blend
World Small/Mid Stock
Foreign Large Blend
Muni National Interm
Large Value
World Allocation
Small Growth
Mid-Cap Growth
High Yield Bond
Large Growth
Large Blend
Foreign Small/Mid Growth
Small Value
Foreign Small/Mid Growth
Small Value
World Large Stock
Muni National Long
Foreign Large Value
Foreign Large Growth
Large Blend
World Large Stock
Foreign Large Blend
Foreign Small/Mid Blend
Diversified Emerging Mkts
Large Blend
Large Value
Inflation-Protected Bond
World Bond
Allocation—70% to 85% Equity
Large Value
Foreign Large Blend
Mid-Cap Blend
Large Blend
Diversified Emerging Mkts
Large Growth
Large Value
Intermediate Core Bond
Large Growth
Inflation-Protected Bond
Foreign Large Growth
Corporate Bond
World Allocation
Intermediate Core Bond
Allocation—70% to 85% Equity
Large Growth
Large Growth
Global Real Estate
Allocation—50% to 70% Equity
Large Growth
Small Blend
Large Blend
Large Value
Diversified Emerging Mkts
Target-Date Retirement
Target-Date 2035
Target-Date 2045
Target-Date 2020
Target-Date 2040
Target-Date 2030
Target-Date 2050
Corporate Bond
High Yield Bond
Large Blend
Mid-Cap Growth
Small Growth
Large Growth
Multisector Bond
Muni National Long
Mid-Cap Growth
Target-Date 2025
Target-Date 2015
Target-Date 2055
Large Growth
Ultrashort Bond
Nontraditional Bond
Target-Date 2000-2010
Target-Date 2015
Large Value
Target-Date 2025
Foreign Large Value
Target-Date 2035
Large Growth
Nontraditional Bond
Target-Date 2030
Target-Date 2000-2010
Real Estate
Large Blend
Mid-Cap Value
Target-Date 2040
Target-Date 2020
Target-Date Retirement
Diversified Pacific/Asia
Mid-Cap Growth
Large Value
Allocation—30% to 50% Equity
Mid-Cap Growth
Small Growth
Mid-Cap Value
Foreign Large Growth
Mid-Cap Growth
Foreign Large Growth
Small Blend
Allocation—70% to 85% Equity
Foreign Large Growth
Large Growth
Small Value
Foreign Large Blend
Large Blend
Large Blend
Target-Date 2055
Foreign Large Blend
Large Value
Small Blend
Muni National Interm
Small Blend
Small Growth
Small Growth
Mid-Cap Blend
Mid-Cap Growth
Large Growth
High Yield Muni
World Large Stock
Intermediate Core Bond
Mid-Cap Blend
Mid-Cap Growth
Foreign Large Blend
Mid-Cap Value
Long Government
Mid-Cap Value
Foreign Large Blend
Long Government
Corporate Bond
Muni National Long
Small Growth
Diversified Emerging Mkts
Large Value
Technology
Small Blend
Large Blend
Foreign Large Growth
Large Blend
Target-Date 2000-2010
Mid-Cap Blend
Multisector Bond
Bank Loan
World Large Stock
Small Growth
Diversified Emerging Mkts
Foreign Large Value
Ultrashort Bond
Emerging Markets Bond
Small Blend
Foreign Large Growth
Foreign Large Growth
Technology
Mid-Cap Value
Large Blend
Large Value
Foreign Small/Mid Blend
Large Value
World Large Stock
Large Value
Foreign Small/Mid Value
Foreign Large Blend
Large Value
Inflation-Protected Bond
Large Blend
Large Growth
Diversified Emerging Mkts
Foreign Large Blend
Small Value
Large Blend
Multialternative
Foreign Small/Mid Blend
World Large Stock
Long-Term Bond
Large Growth
Multialternative
Foreign Large Blend
Mid-Cap Growth
Diversified Emerging Mkts
Muni National Long
Diversified Pacific/Asia
Target-Date 2000-2010
Large Growth
Large Value
Target-Date 2015
Target-Date 2020
Large Blend
Target-Date 2025
High Yield Muni
Large Growth
Large Blend
Bank Loan
Large Growth
Target-Date 2030
Target-Date 2035
Target-Date 2040
Foreign Large Value
Large Blend
Large Value
Small Blend
Large Value
Large Blend
Allocation—30% to 50% Equity
Mid-Cap Growth
Target-Date 2055
Large Growth
Mid-Cap Growth
Large Blend
Target-Date 2055
Mid-Cap Blend
Muni National Long
Small Blend
Large Blend
Long-Term Bond
Intermediate Government
Large Growth
Real Estate
Mid-Cap Growth
Intermediate Core Bond
Large Blend
Large Value
Mid-Cap Growth
Large Blend
Small Growth
Target-Date 2060+
World Allocation
Target-Date 2025
Target-Date 2045
Target-Date 2035
Target-Date 2050
Multialternative
Intermediate Government
Large Growth
Large Blend
Target-Date 2060+
Diversified Emerging Mkts
Target-Date 2045
Target-Date 2050
High Yield Muni
Foreign Large Growth
Mid-Cap Growth
Mid-Cap Blend
Target-Date 2025
Target-Date 2030
Allocation—50% to 70% Equity
Long-Term Bond
Target-Date 2035
Large Blend
Allocation—70% to 85% Equity
Intermediate Core Bond
Large Blend
Target-Date 2040
Managed Futures
Large Value
Target-Date 2045
Small Blend
Diversified Emerging Mkts
Large Value
Target-Date 2050
Large Blend
Intermediate Government
Large Growth
Diversified Emerging Mkts
World Large Stock
Foreign Large Blend
Target-Date 2030
Target-Date 2035
Target-Date 2055
Inflation-Protected Bond
Target-Date Retirement
Target-Date 2040
Corporate Bond
Intermediate Core Bond
Foreign Large Blend
Target-Date Retirement
Health
Diversified Emerging Mkts
Global Real Estate
High Yield Bond
Target-Date 2025
World Large Stock
Large Growth
Foreign Large Blend
Emerging-Markets Local-Currency Bond
Mid-Cap Value
Mid-Cap Value
Large Value
Multialternative
World Large Stock
Emerging-Markets Local-Currency Bond
Large Growth
Allocation—30% to 50% Equity
World Large Stock
Target-Date 2015
Allocation—85%+ Equity
Target-Date 2025
World Allocation
Target-Date 2045
Target-Date 2000-2010
Target-Date 2030
Small Blend
Target-Date 2040
High Yield Muni
Real Estate
Target-Date 2000-2010
World Allocation
Mid-Cap Growth
Allocation—50% to 70% Equity
Target-Date 2015
Target-Date 2050
Muni National Long
Allocation—15% to 30% Equity
Corporate Bond
World Small/Mid Stock
Target-Date 2035
Diversified Emerging Mkts
Utilities
Large Value
Emerging Markets Bond
World Allocation
Small Blend
Large Growth
Large Blend
High Yield Bond
Muni National Long
Europe Stock
Large Blend
Diversified Pacific/Asia
Allocation—50% to 70% Equity
Large Blend
Foreign Large Blend
Europe Stock
Target-Date Retirement
Small Growth
Large Blend
Large Blend
Mid-Cap Value
Target-Date 2045
Target-Date 2050
Allocation—85%+ Equity
High Yield Bond
Large Value
Managed Futures
Bank Loan
Large Blend
Convertibles
Muni National Short
High Yield Bond
High Yield Bond
Small Blend
Target-Date 2025
Large Blend
Target-Date 2030
Target-Date 2035
Target-Date 2020
Intermediate Government
Diversified Emerging Mkts
Target-Date 2045
Target-Date 2040
Diversified Emerging Mkts
Target-Date 2045
Diversified Emerging Mkts
Large Value
Target-Date 2030
Allocation—50% to 70% Equity
Target-Date 2030
Target-Date 2040
Corporate Bond
Target-Date 2050
Target-Date 2050
Large Blend
Target-Date 2035
Target-Date 2055
Target-Date 2040
Target-Date 2035
Target-Date 2040
Target-Date 2045
Target-Date Retirement
Target-Date 2020
Target-Date 2030
Target-Date 2040
Muni National Long
Target-Date 2015
Target-Date 2025
World Large Stock
Target-Date 2025
Allocation—30% to 50% Equity
Allocation—50% to 70% Equity
High Yield Bond
Target-Date 2020
Large Blend
Target-Date 2030
Target-Date 2035
Target-Date 2000-2010
Large Blend
Foreign Large Growth
Target-Date 2000-2010
Target-Date 2060+
Large Growth
Target-Date 2020
Multisector Bond
Target-Date Retirement
Target-Date 2020
Target-Date 2060+
Target-Date Retirement
Large Blend
Corporate Bond
Large Value
Target-Date 2045
Large Growth
Small Blend
Large Value
Large Growth
Foreign Large Value
Pacific/Asia ex-Japan Stk
Allocation—30% to 50% Equity
Target-Date 2000-2010
Target-Date 2015
Target-Date 2020
Multialternative
Large Blend
Target-Date 2025
Target-Date 2030
Target-Date 2035
Target-Date 2040
Target-Date 2000-2010
Target-Date 2045
Target-Date 2050
Ultrashort Bond
Target-Date 2055
Target-Date 2060+
Large Value
Target-Date 2050
Target-Date 2045
Target-Date 2060+
Target-Date 2055
Foreign Large Blend
Large Blend
Mid-Cap Blend
Muni National Interm
Small Blend
Mid-Cap Blend
Europe Stock
Target-Date 2000-2010
Mid-Cap Growth
Inflation-Protected Bond
Target-Date 2050
Foreign Large Blend
Target-Date 2020
Target-Date 2000-2010
Target-Date 2015
World Allocation
Target-Date 2025
Mid-Cap Blend
Large Growth
Target-Date 2030
Health
Large Growth
Foreign Large Growth
Foreign Large Blend
Small Growth
Large Blend
Large Blend
Pacific/Asia ex-Japan Stk
Foreign Large Value
Allocation—50% to 70% Equity
Large Value
Foreign Large Growth
Large Growth
World Allocation
Mid-Cap Value
Muni National Short
Emerging-Markets Local-Currency Bond
Ultrashort Bond
Muni National Interm
Muni National Long
Small Blend
Large Value
Target-Date 2015
Small Growth
Large Value
Managed Futures
Mid-Cap Growth
Allocation—30% to 50% Equity
Target-Date 2025
Small Growth
Mid-Cap Value
Target-Date 2000-2010
Muni National Long
Large Growth
Foreign Large Growth
Target-Date 2035
World Small/Mid Stock
Target-Date 2055
Allocation—30% to 50% Equity
Small Growth
High Yield Bond
Mid-Cap Growth
Convertibles
Target-Date 2045
Intermediate Core Bond
Allocation—15% to 30% Equity
Muni National Short
Bank Loan
Small Value
Target-Date 2035
Mid-Cap Value
Allocation—50% to 70% Equity
Large Growth
Target-Date 2025
Multialternative
Diversified Emerging Mkts
Target-Date 2055
Allocation—70% to 85% Equity
Large Value
Multisector Bond
Target-Date 2055
Large Growth
Allocation—50% to 70% Equity
Europe Stock
Small Growth
Large Growth
Mid-Cap Growth
Pacific/Asia ex-Japan Stk
World Bond
Large Value
Intermediate Core Bond
Allocation—30% to 50% Equity
Allocation—30% to 50% Equity
Large Value
Large Value
Large Blend
Foreign Large Value
Intermediate Core Bond
Muni National Long
Large Growth
Large Blend
Communications
Allocation—50% to 70% Equity
World Bond
Managed Futures
Diversified Emerging Mkts
Small Growth
Large Blend
Large Growth
World Allocation
Foreign Large Blend
Mid-Cap Growth
High Yield Bond
Inflation-Protected Bond
Large Value
Mid-Cap Growth
Target-Date 2020
Foreign Large Blend
High Yield Bond
Pacific/Asia ex-Japan Stk
World Large Stock
World Bond
Multialternative
Small Blend
Allocation—15% to 30% Equity
World Allocation
Mid-Cap Value
Mid-Cap Growth
Nontraditional Bond
Inflation-Protected Bond
Inflation-Protected Bond
Mid-Cap Blend
Foreign Large Value
Technology
Large Value
Multisector Bond
World Large Stock
Large Value
Large Value
Foreign Large Growth
Foreign Large Blend
World Large Stock
Intermediate Core Bond
Diversified Emerging Mkts
Target-Date 2030
Nontraditional Bond
Foreign Large Blend
Foreign Small/Mid Blend
Diversified Emerging Mkts
Foreign Large Blend
Small Blend
Allocation—30% to 50% Equity
Nontraditional Bond
Large Blend
Large Blend
Mid-Cap Blend
Small Growth
Real Estate
Allocation—50% to 70% Equity
Foreign Large Value
Large Value
Mid-Cap Blend
Corporate Bond
Foreign Large Blend
Small Blend
Large Growth
Large Blend
Large Blend
Large Blend
Large Blend
Target-Date 2000-2010
Mid-Cap Value
Target-Date 2040
Global Real Estate
Real Estate
Large Value
World Allocation
Pacific/Asia ex-Japan Stk
Allocation—30% to 50% Equity
Large Growth
Target-Date 2020
Target-Date 2030
Multisector Bond
Diversified Emerging Mkts
Foreign Large Growth
Foreign Large Blend
Diversified Emerging Mkts
Small Value
Foreign Large Value
Allocation—30% to 50% Equity
Large Growth
Mid-Cap Value
Foreign Large Blend
Foreign Large Blend
Mid-Cap Growth
Small Value
Large Value
Small Blend
Target-Date 2040
Europe Stock
Small Growth
Small Value
Target-Date 2020
Large Blend
Foreign Large Value
Mid-Cap Value
Foreign Large Blend
Large Growth
Target-Date Retirement
Large Growth
Large Blend
Large Value
Muni National Interm
Foreign Large Growth
Mid-Cap Growth
Large Blend
Large Value
Large Value
Target-Date 2030
Large Blend
Large Blend
Intermediate Core Bond
Ultrashort Bond
Large Blend
Foreign Large Blend
Small Value
Large Growth
Bank Loan
Foreign Large Growth
Foreign Large Blend
Inflation-Protected Bond
Large Value
Small Growth
Bank Loan
Large Blend
Foreign Large Blend
Small Growth
Mid-Cap Blend
World Allocation
Small Growth
Large Growth
Large Blend
Nontraditional Bond
Large Growth
Foreign Large Blend
Small Growth
Multialternative
High Yield Bond
Muni National Short
Large Value
Allocation—50% to 70% Equity
Allocation—30% to 50% Equity
Large Blend
Diversified Emerging Mkts
Intermediate Core Bond
Allocation—85%+ Equity
Corporate Bond
Foreign Large Growth
Intermediate Government
Mid-Cap Value
Diversified Emerging Mkts
Mid-Cap Growth
Mid-Cap Value
Emerging-Markets Local-Currency Bond
Large Blend
Muni National Interm
Convertibles
Target-Date 2050
Technology
Target-Date 2045
Target-Date 2040
Target-Date 2035
Corporate Bond
Allocation—50% to 70% Equity
Long Government
Large Growth
Large Value
Large Blend
High Yield Bond
Ultrashort Bond
Global Real Estate
World Large Stock
Small Growth
Intermediate Government
Foreign Large Blend
Ultrashort Bond
Nontraditional Bond
Ultrashort Bond
Large Blend
Small Blend
Target-Date 2060+
Small Blend
Emerging-Markets Local-Currency Bond
Target-Date 2060+
Large Value
World Large Stock
Small Value
Real Estate
Large Growth
Small Value
Allocation—30% to 50% Equity
Allocation—70% to 85% Equity
Large Blend
Allocation—85%+ Equity
Small Blend
Allocation—50% to 70% Equity
Small Value
Large Blend
Target-Date 2055
World Large Stock
World Large Stock
Foreign Large Growth
Large Blend
Real Estate
Allocation—30% to 50% Equity
Large Growth
Small Value
Intermediate Government
Ultrashort Bond
Mid-Cap Value
Inflation-Protected Bond
Corporate Bond
Intermediate Core Bond
Corporate Bond
Small Blend
Intermediate Core Bond
Target-Date 2055
Emerging-Markets Local-Currency Bond
Long Government
Intermediate Government
Foreign Large Blend
Long Government
High Yield Bond
Inflation-Protected Bond
Large Blend
Large Blend
Foreign Large Growth
Foreign Small/Mid Growth
Long Government
Small Growth
Large Value
Emerging-Markets Local-Currency Bond
Foreign Large Growth
Large Growth
Mid-Cap Growth
Allocation—50% to 70% Equity
High Yield Bond
Foreign Large Blend
Target-Date 2050
World Allocation
Large Value
Target-Date 2055
Pacific/Asia ex-Japan Stk
Target-Date 2035
Large Value
Target-Date 2025
Target-Date 2000-2010
Target-Date 2050
Small Growth
Small Value
World Large Stock
Muni National Long
Mid-Cap Value
Foreign Large Blend
Large Blend
Target-Date 2015
Foreign Small/Mid Growth
World Large Stock
Corporate Bond
Emerging Markets Bond
Ultrashort Bond
Large Blend
Foreign Large Blend
Foreign Large Blend
Inflation-Protected Bond
Mid-Cap Blend
World Large Stock
Large Blend
World Large Stock
World Large Stock
Large Blend
Large Growth
Ultrashort Bond
Diversified Emerging Mkts
World Large Stock
Large Blend
Large Value
Mid-Cap Growth
Intermediate Core Bond
Large Blend
Large Growth
Large Growth
Foreign Large Blend
Foreign Large Blend
Options-based
Health
Large Blend
Large Value
Options-based
Small Growth
Foreign Large Blend
Foreign Large Blend
Mid-Cap Blend
Large Value
Large Blend
Small Growth
Small Blend
Large Growth
Large Blend
Small Value
Large Value
Large Blend
Large Growth
Small Blend
Mid-Cap Growth
Mid-Cap Blend
Large Blend
Large Blend
Mid-Cap Value
Mid-Cap Value
Foreign Large Blend
Target-Date 2060+
Target-Date 2040
Health
Target-Date 2060+
Mid-Cap Blend
Large Value
Health
Europe Stock
Large Value
Intermediate Core Bond
World Bond
Foreign Large Blend
Large Value
Pacific/Asia ex-Japan Stk
Large Growth
Large Value
Options-based
Large Blend
Communications
Real Estate
Financial
Target-Date 2060+
Large Value
Mid-Cap Growth
Foreign Large Blend
Mid-Cap Value
Small Blend
Small Value
Health
Small Growth
Global Real Estate
Large Blend
Muni National Interm
Large Growth
Corporate Bond
Small Blend
Mid-Cap Blend
Large Value
World Allocation
Large Blend
Small Growth
Intermediate Government
Large Value
Europe Stock
Foreign Large Blend
Large Growth
Large Value
Large Blend
Mid-Cap Growth
Large Value
Large Blend
World Large Stock
Foreign Large Blend
Foreign Large Blend
Small Value
Large Blend
Foreign Large Blend
Allocation—50% to 70% Equity
Small Value
Target-Date 2030
Diversified Emerging Mkts
Target-Date 2025
Mid-Cap Value
Target-Date 2020
Mid-Cap Value
Long-Term Bond
Mid-Cap Blend
Target-Date 2015
Target-Date Retirement
Target-Date 2060+
Foreign Large Value
Target-Date 2055
Diversified Emerging Mkts
Foreign Large Blend
Inflation-Protected Bond
Diversified Emerging Mkts
Target-Date 2055
Allocation—50% to 70% Equity
Small Blend
World Allocation
Target-Date 2050
Large Value
Global Real Estate
Large Growth
Small Growth
Large Blend
Mid-Cap Value
Large Blend
Muni National Short
Foreign Large Growth
Mid-Cap Blend
Foreign Small/Mid Blend
Emerging Markets Bond
Foreign Large Blend
Large Growth
Foreign Large Blend
Diversified Emerging Mkts
Target-Date 2045
Large Blend
Target-Date 2040
Large Value
Ultrashort Bond
Small Blend
World Large Stock
Large Growth
Large Blend
Target-Date 2035
Multisector Bond
Target-Date 2030
Intermediate Core Bond
Foreign Small/Mid Blend
Target-Date 2025
Corporate Bond
Target-Date 2060+
Bank Loan
Muni National Short
Target-Date 2020
Muni National Long
Large Blend
Target-Date 2040
Mid-Cap Value
Target-Date 2015
World Large Stock
Target-Date Retirement
Intermediate Core Bond
Target-Date 2060+
Target-Date 2055
Target-Date Retirement
Muni National Interm
Large Value
Large Blend
World Large Stock
Large Value
Target-Date 2045
Large Growth
High Yield Bond
Target-Date 2050
Multisector Bond
Multialternative
World Large Stock
World Small/Mid Stock
Small Value
High Yield Muni
Small Growth
Foreign Large Growth
Diversified Emerging Mkts
Large Blend
Large Blend
Large Blend
Intermediate Government
Foreign Large Value
Mid-Cap Growth
Large Value
Large Blend
Target-Date 2060+
Emerging Markets Bond
Foreign Large Blend
Intermediate Core Bond
Large Growth
Large Growth
Financial
Muni National Short
Large Growth
Small Value
World Large Stock
Target-Date 2025
Target-Date 2060+
Foreign Large Blend
Global Real Estate
Target-Date 2060+
Target-Date 2035
Multialternative
Ultrashort Bond
Target-Date 2045
High Yield Bond
High Yield Bond
Intermediate Core Bond
Target-Date 2050
Target-Date 2055
Target-Date 2045
Muni National Short
Financial
Real Estate
Intermediate Government
Allocation—50% to 70% Equity
Large Blend
Intermediate Government
Small Blend
Allocation—50% to 70% Equity
Large Blend
Large Growth
Large Blend
Muni National Long
Small Blend
Intermediate Core Bond
Mid-Cap Value
Large Blend
Nontraditional Bond
Pacific/Asia ex-Japan Stk
Large Growth
Large Growth
Large Value
Foreign Small/Mid Value
Large Growth
Diversified Emerging Mkts
Target-Date 2060+
Target-Date 2060+
Allocation—70% to 85% Equity
Large Blend
Small Growth
Mid-Cap Growth
Target-Date 2060+
Pacific/Asia ex-Japan Stk
Mid-Cap Growth
Large Blend
Mid-Cap Blend
Large Growth
Large Growth
Large Blend
High Yield Bond
Foreign Large Value
Foreign Large Growth
Foreign Small/Mid Growth
Foreign Large Growth
Large Growth
Mid-Cap Growth
Foreign Large Blend
Target-Date 2050
Diversified Emerging Mkts
Allocation—50% to 70% Equity
Foreign Large Growth
Multialternative
Allocation—15% to 30% Equity
Large Value
Large Growth
Europe Stock
Large Growth
Large Blend
Large Blend
Muni National Short
Intermediate Government
High Yield Muni
Mid-Cap Growth
Large Blend
High Yield Bond
Technology
Large Growth
World Large Stock
Small Blend
Large Value
Mid-Cap Blend
Large Value
Large Blend
Large Blend
World Large Stock
Diversified Emerging Mkts
Real Estate
Foreign Large Growth
Utilities
Mid-Cap Blend
Small Growth
Mid-Cap Growth
World Large Stock
Diversified Emerging Mkts
Foreign Large Blend
Muni National Interm
Large Growth
World Large Stock
Foreign Large Blend
World Bond
High Yield Bond
Muni National Long
Financial
Intermediate Core Bond
Muni National Long
High Yield Bond
Large Growth
Foreign Large Growth
Foreign Large Growth
Multisector Bond
Muni National Interm
Mid-Cap Value
Muni National Short
Foreign Small/Mid Growth
High Yield Muni

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.

  1. 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.
  2. 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.
  3. 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.

List Criteria

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.