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Retirement Planning > Retirement Investing

Morningstar Rates Target-Date Funds: Vanguard, T. Rowe, JPM, American Tops

By Joyce Hanson

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Morningstar announced Thursday that it had updated its target-date fund family ratings and reports for the first quarter of 2011.

Topping the rating list were fund families run by Vanguard, T. Rowe Price, JPMorgan and American Funds. At the bottom were AllianceBernstein and Oppenheimer.

Changes over the quarter included the upgrade of JPMorgan SmartRetirement to a Top rating and Morningstar’s initiation of coverage on State Farm LifePath, a clone of BlackRock LifePath, which checks in with a Below Average Rating.

“JPMorgan has been one of the most consistent performers we cover, and its recent stewardship upgrade on corporate culture was enough to move it over the fence,” Morningstar said in a news release. “State Farm gets a lower rating than BlackRock due to high expenses and some poorer ratings in stewardship areas, including Transparency.”

Morningstar’s latest fund family ratings:

Name

Rating

Vanguard Target Retirement Series

Top

T. Rowe Price Retirement Series

Top

JPMorgan SmartRetirement Series

Top

American Funds Trgt Date Rtrmt Series

Top

Wells Fargo Advantage DJ Target Date Ser

Above Average

TIAA-CREF Lifecycle Series

Above Average

American Century LIVESTRONG Series

Above Average

Vantagepoint Milestone Series

Above Average

MFS Lifetime Series

Average

Fidelity Freedom Series

Average

ING Solution Series

Average

Fidelity Advisor Freedom Series

Average

John Hancock Lifecycle Series

Average

Schwab Target Series

Average

Blackrock Lifepath Series

Average

MassMutual Destination Series

Average

Principal LifeTime Series

Average

Putnam RetirementReady Series

Below Average

State Farm LifePath Series

Below Average

DWS LifeCompass Series

Below Average

AllianceBernstein Retirement Str Series

Bottom

Oppenheimer LifeCycle Series

Bottom

Source: Morningstar

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