The Analyst Rating for funds (including our Medalist ratings) reflects a Morningstar analyst's qualitative assessment of a fund's future prospects. This is different than the star rating, which is purely quantitative and backward-looking.
- The Analyst Rating is based on the analyst's conviction in the fund's ability to perform better than similar funds over the long term.
- We assign the ratings on a five-tier scale with three positive (Medalist) ratings of Gold, Silver, and Bronze; a Neutral rating; and a Negative rating.
- If a fund receives a Gold, Silver, or Bronze Medalist rating, that means we expect it to perform better than similar funds over a full market cycle of at least five years.