Morningstar

FMI Common Stock Fund Institutional Class FMIUX

Medalist Rating as of Sep 22, 2026 See FMI Investment Hub

Will FMIUX outperform in the future?

Get our overall rating based on a fundamental assessment of the pillars below.

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Process Pillar

The Process Pillar is our assessment of how sensible, clearly defined, and repeatable FMIUX’s performance objective and investment process is for both security selection and portfolio construction.
People Pillar

The People Pillar is our evaluation of the FMIUX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.
Parent Pillar

The Parent Pillar is our rating of FMIUX’s parent organization’s priorities and whether they’re in line with investors’ interests.

Less faith in the execution of an otherwise solid playbook.

Analyst Katherine Wu

Katherine Wu

Analyst

Summary

While smaller-cap stocks are typically an area of strength for FMI, several team changes and diminished confidence in process execution prompt downgrades for FMI Common Stock. Its People and Process ratings drop to Average from Above Average.

by Katherine Wu

Rated on Sep 22, 2026 Published on Sep 22, 2026

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