Corrections and Clarifications 2024

When we make a mistake, we acknowledge the error and correct it. When we publish material that’s incomplete or requires additional context, we revise the content and issue a clarification.

The process varies by platform and department, but transparency is always the goal. To request a correction or clarification in editorial content, email standards@morningstar.com. For questions or problems with data accuracy, email joe@morningstar.com or morningstardirect@morningstar.com. To view previous corrections, visit the archive.

Correction (April 26, 2024): The Dodge & Cox Emerging Markets Stock DODEX report was corrected with the proper spelling of Sophie Chen.

Correction (April 26, 2024): In IRS Extends Waiver of Excise Tax for Inherited IRAs, but Not RMDs, Example 1 was corrected to indicate that Lori was required to take—and took—the RMD in 2020, not 2022.

Correction (April 24, 2024): Previous versions of the Medpace company report incorrectly stated, in one instance, the price that Cinven paid for Medpace.

Clarification (April 15, 2024): The JPMorgan BetaBuilders $ High Yield Corporate Bond ETF BBHY report was updated to clarify language around risk.

Correction (April 12, 2024): A previous version of the analyst note BlackRock International Dividend’s Team Combines With Another, Loses Comanager incorrectly stated that comanager Rosie Edwards left the firm, which she has not.

Correction (April 12, 2024): A previous version of Tesla Stock Is Down 30% In 2024. Is It a Buy? misstated Tesla’s 2023 return.

Correction (April 5, 2024): A previous version of How the Largest Bond Funds Did Last Quarter stated that Pimco Total Return was the only actively managed fund to rank in the top 20% of its category, rather than JPMorgan Core Bond.

Correction (April 5, 2024): In For the First Time, Index Funds Face Federal Scrutiny, the section “A Sound Idea” was revised.

Correction (April 3, 2024): Principal Small-MidCap Dividend Income PMDDX was updated to correct the information about dividends paid by the primary benchmark, the market-cap range looked for by managers, and the weightings in financials and industrials.

Correction (April 2, 2024): 10 Top-Performing Dividend Stocks for the Quarter was updated to correct data points throughout.

Correction (April 2, 2024): After an editorial review, Best- and Worst-Performing Stocks for the Month was temporarily unpublished to correct data points throughout.

Correction (March 28, 2024): A previous version of the analyst note Jensen CIO Schoenstein to Retire in March 2025 incorrectly identified Allen Bond as the lead manager of Jensen Quality Value JNVSX. The lead manager is Adam Calamar.

Correction (March 28, 2024): The Principal Equity Income PQIAX report was corrected to update the number of portfolio holdings and the percentage of index constituents that paid a dividend at the end of 2023.

Correction (March 27, 2024): A previous version of Which Bonds Provide the Biggest Diversification Benefit? incorrectly labeled the Morningstar US Market Index in the “Three-Year Correlation Matrix: Municipal Bonds” exhibit.

Correction (March 26, 2024): The Best International Stock Index Funds was updated to transpose the Expense % and Return % column headers in the Best Small Company Funds table. It was also updated to indicate that developed-markets funds bested rather than trailed their predecessors.

Correction (March 22, 2024): Top 10 Things to Know About Building a Diversified Portfolio was updated to replace the first exhibit, which included some 2023 data that was incorrectly color-coded.

Correction (March 20, 2024): A previous version of the Hotchkis & Wiley Small Cap Value HWSAX report incorrectly identified Jim Miles as also being a manager on Hotchkis & Wiley Mid-Cap Value HWMIX.

Correction (March 20, 2024): The Vanguard Equity-Income VEIPX report was updated to correct Adam Illfelder’s role.

Clarification (March 11, 2024): 3 Cheap Stocks to Buy That the Best Value Managers Own was recorded on March 7 and released on March 11. In the interim, our fair value estimate for Schwab was changed to $73 from $80.

Correction (March 8, 2024): A previous version of 7 Top-Performing Stocks to Buy Now misspelled Jaime M. Katz’s name.

Correction (March 7, 2024): Gold-Rated Funds With Women Managers was unpublished and reshot to correct an error. Patrice Collette was incorrectly listed as a female manager of American Funds International Growth and Income.

Correction (March 4, 2024): A previous version of 3 Key Retirement Decisions Affected By Higher Yields stated that Social Security recipients receive a boost in their eventual benefits for every year they delay past age 70. This has been corrected to say that recipients get a benefits boost for every year they delay up until age 70.

Correction (March 3, 2024): An earlier version of the NetEase company report had an incorrect Morningstar Uncertainty Rating reference.

Correction (Feb. 28, 2024): An earlier version of the Canadian Tire note referred to an incorrect time span for the retail revenue result.

Correction (Feb. 28, 2024): An earlier version of the Splunk note referred to the incorrect quarter reported.

Clarification (Feb. 26, 2024): An earlier version of the Lenovo note was missing the reference to the ISG segment in the second sentence.

Correction (Feb. 21, 2024): The Vanguard Total Stock Market Index VITSX report was updated to clarify information about the Australian listing of the fund.

Correction (Feb. 16, 2024): A previous version of The Key to Personal Financial Planning: Being Lazy included an exhibit with duplicate information. This exhibit has been replaced with a corrected version.

Correction (Feb. 13, 2024): An earlier version of Fees Are Rising for These 4 Funds included FPA Crescent FPACX because of a data error in our record for the fund’s 2022 prospectus adjusted expense ratio. The correct figure of 1.05% was published, but this was the same in 2023, so it is not a fund with rising fees and has been removed from the article.

Correction (Feb. 13, 2024): A previous version of Should You Gift Your Appreciated Assets During Your Lifetime? used an incorrect example regarding the 0% capital gains tax rate. The example incorrectly suggested that a capital gain wouldn’t count as part of an individual’s taxable income.

Correction (Feb. 12, 2024): The VanEck Global Resources GHAAX report was updated to clarify the index information.

Correction (Feb. 8, 2024): An earlier title for Raising GE’s Stock Valuation by 20% stated the fair value estimate was raised by 30% rather than 20%.

Correction (Feb. 7, 2024): An earlier version of the Roblox stock analyst note misstated the increase in global daily active users. It was nearly 22%, not 20%.

Clarification (Feb. 7, 2024): Is There Really a Better Mousetrap for Retirement Income? was updated to include Stone Ridge’s statement that the LifeX series’ expense ratio is not the primary driver behind the funds’ lower payout rates and a summary of the other factors to which it attributes the lower payout rates.

Correction (Feb. 6, 2024): The Jan. 30, 2024, analyst report for BlackRock National Municipal MANLX was updated to correct the first name of Patrick Haskell.

Correction (Feb. 5, 2024): The Champlain Mid Cap CIPIX analyst report dated Aug. 9, 2023, has been corrected. Its correct Morningstar Category peer is mid-growth, and its correct Russell index is Russell Midcap Growth Index; neither should be small caps.

Correction (Feb. 2, 2024): In a previous version of the Feb. 2 Saia stock analyst note, the operating ratio improvement was misstated. It is 90 basis points.

Correction (Feb. 2, 2024): In U.S. Sustainable Funds Register First Annual Outflows in 2023, the median return for sustainable large-blend funds in 2023 was corrected to 24.4% from 20.8%, thus beating instead of trailing the 23.9% median gain for the overall category.

Correction (Feb. 2, 2024): 15 Funds That Have Destroyed the Most Wealth Over the Past Decade, published Jan. 31, was temporarily unpublished while the piece was reviewed internally. The text and tables have been revised to correct a data issue that caused incorrect market appreciation numbers for certain income-oriented ETFs. In addition, we removed two other funds from the list of 15 funds included in the first exhibit. The market appreciation figure for Principal Diversified International Fund PDIFX did not reflect an in-kind transfer from the mutual fund to a sibling CIT vehicle. The market appreciation figure for Delaware Ivy Asset Strategy Fund Cl C WASCX did not reflect a consolidation of assets from related vehicles that took place in 2013.

Correction (Feb. 1, 2024): A previous version of the Julius Baer stock analyst note misspelled Philipp Rickenbacher’s name.

Correction (Feb. 1, 2024): The Jan. 31, 2024, version of the Hess Earnings note was updated to replace U.S. Department of Justice with Federal Trade Commission.

Correction (Feb. 1, 2024): Previous versions of the Analyst Reports for Matthews India MINDX and Matthews Pacific Tiger MAPTX incorrectly identified the firm’s CIO and co-lead manager of the latter fund. He is Sean Taylor, not Sean Young.

Correction (Jan. 26, 2024): Covered-Call Funds: A Mystery Wrapped Within an Enigma was updated to correct that it was option-selling bond funds that went nowhere from 1986 through 1987.

Correction (Jan. 23, 2024): A previous version of the Jan. 23 Frasers Centrepoint Trust stock analyst note described FCT as fairly valued. At the time of publication, it was undervalued.

Correction (Jan. 19, 2024): What’s in Store for Vanguard’s Funds, ETFs, and More in 2024 misstates Donald Kilbride’s role at Vanguard. He stepped away from his responsibilities for Vanguard Dividend Growth Fund on Jan. 1, 2024. He did not retire and is still managing portfolios for Wellington.

Clarification (Jan. 18, 2024): Sustainable Funds Hit by Weaker Demand in Q3 2023 was updated to include U.S. sustainable funds’ outflow figure ($8.2 billion) for year-to-date 2023 through September.

Correction (Jan. 16, 2024): Western Asset Macro Opportunities’ LAAAX report was updated to clarify Prashant Chandran’s role.

Correction (Jan. 12, 2024): A previous version of The Worst-Performing Stocks of 2023 misspelled the last name of Morningstar healthcare strategist Karen Andersen.

Correction (Jan. 8, 2024): Owing to an error in Geofinancial Analytics’ database, an earlier version of U.S. Oil & Gas Producers Could Face $4.8 Billion in Methane-Related Charges, Study Claims displayed incorrect data and estimates for EQT’s methane exposure in two tables. The tables have been updated to reflect accurate data.

Clarification (Jan. 8, 2024): The last paragraph of the Boeing/Spirit stock analyst note published Jan. 7 now makes clear that we don’t expect the most recent jet accident to have a material impact on Spirit.

Correction (Jan. 8, 2024): The American Funds Income Fund of America report was updated to correct the percentage that stocks must pay at time of initial purchase.

Correction (Jan. 4, 2024): A previous version of the Coca-Cola HBC AG report from Dec. 8 had an incorrect fair value estimate of GBX 26, which has been corrected to GBX 2,600 (GBP 26).