Morningstar Rating for Funds (Overall)

The Morningstar Rating for funds, often referred to as the star rating, measures a fund’s past performance compared to similar funds on a risk-adjusted basis.

It brings together performance, risk, and load-adjustments into one evaluation. The fund's risk-adjusted and load-adjusted return is plotted on a bell curve for a given time period (three, five, or 10 years). If a fund scores in the top 10% of its category, it receives 5 stars; the next 22.5% receive 4 stars; the next 35% receive 3 stars; the next 22.5% receive 2 stars; and the remaining 10% receive 1 star.

The overall star rating is a weighted average of the available star ratings. The star rating is updated on a monthly basis, and a fund must have 36 calendar months of performance before a star rating is assigned.