Downgrades Outweigh Upgrades in April

In the month of April, Morningstar analysts downgraded the Morningstar Analyst Ratings of 31 funds, upgraded four funds, and initiated ratings on four funds. The complete rundown is listed in the tables below. Here we'll highlight a few of the most notable changes.

Upgrades

Downgrades

Three Artisan funds run by the same team were downgraded in April.

Morningstar's Jeff Holt discussed the downgrade of several Manning & Napier funds in a Fund Spy last month.

New Ratings

Long known for growth investing, Fidelity has paid more attention to its neglected value funds during the past few years, changing management and requiring distinct value-oriented strategies. Some funds are off to a strong start.

Court Dignan at

For a list of the open-end funds we cover, click here. For a list of the closed-end funds we cover, click here. For a list of the exchange-traded funds we cover, click here. For information on the Morningstar Analyst Ratings, click here.