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User Guide

Reading a Fund Analyst Report

Morningstar Rating for Funds

The Morningstar Rating for Funds, often called the Star Rating, is a data-driven rating that measures how well a fund has performed compared to similar funds. Funds with at least a 3-year record will receive a rating of 1 to 5 stars. All else equal, funds that have beaten most of their peers will receive 4 and 5 stars, while funds that have underperformed will receive 1 or 2 stars.

Morningstar Analyst Rating for Funds (Premium)

Morningstar evaluates funds based on five key pillars—Performance, Process, Price, People and Parent—which analysts believe lead to funds that are more likely to outperform over the long term on a risk-adjusted basis. A fund that receives a medalist rating of Gold, Silver, or Bronze, is expected to outperform similar funds over a full market cycle.

Morningstar Quantitative Fund Rating

The Morningstar Quantitative Rating for funds uses machine learning to extend our analysts’ judgment to a broader range of funds.

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