Morningstar’s Fund Analysis FPHAX
Will FPHAX outperform in future?
Get our overall rating based on a fundamental assessment of the pillars below.
The Process Pillar is our assessment of how sensible, clearly defined, and repeatable FPHAX’s performance objective and investment process is for both security selection and portfolio construction.
The People Pillar is our evaluation of the FPHAX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.
The Parent Pillar is our rating of FPHAX’s parent organization’s priorities and whether they’re in line with investors’ interests.
The number of funds that receive a Morningstar Analyst Rating is limited by the size of the Morningstar analyst team. To expand the number of funds we cover, we have developed a machine-learning model that uses the decision-making processes of our analysts, their past ratings decisions, and the data used to support those decisions. The machine-learning model is then applied to the “uncovered” fund universe to create the Morningstar Quantitative Rating (denoted on this page by a ), which is analogous to the rating a Morningstar analyst might assign to the fund if an analyst covered the fund. These quantitative rating predictions make up what we call the Morningstar Quantitative Rating™ for funds. Click here for more on how to use these ratings.