Each month, Morningstar reports new ratings.

Morningstar analysts are doing some spring cleaning. The fund research company just upgraded seven funds, downgraded four funds and gave new ratings to 29 mutual funds and 33 exchange-traded funds in March, while placing one fund under review.

In addition, analysts affirmed ratings for 80 funds and three target-date series.

Its Morningstar Analyst Ratings represent analysts’ views that a fund can outperform its peers on a risk-adjusted basis over the long term. The five-tiered, qualitative scale has three positive levels — Gold, Silver and Bronze — as well as neutral and negative ratings.

Overall, 135 funds have a rating of Gold, 313 are Silver, 507 are Bronze, 423 are Neutral, and an unlucky 13 are Negative.

In February, the company upgraded two U.S. funds and one target-date series. It also downgraded ratings for nine funds, affirmed ratings for 65 funds and 10 target-date series, assigned 16 new fund ratings, and placed one fund under review.

The medalist-rated funds, referred to as Morningstar Medalists, account for about 9% of funds sold in the U.S. and close to 60% of assets under management. (Overall, the group’s analysts rate some $12 trillion of U.S. investor assets, or about 68% of U.S. investor assets.)

The March 2017 updates are as follows: 

Upgrades

  • DFA U.S. Large Company (DFUSX): Gold (from Silver)
  • Western Asset Core Plus Bond (WACPX): Gold (from Silver)
  • BlackRock Strategic Income Opportunities (BSIIX): Silver (from Bronze)
  • Fidelity Overseas: (FOSFX) Silver (from Bronze)
  • T. Rowe Price Global Technology (PRGTX): Silver (from Bronze)
  • Seafarer Overseas Growth and Income (SIGIX): Silver (from Bronze)
  • Vanguard Explorer (VEXPX): Bronze (from Neutral)

 

Downgrades

  • AllianzGI NFJ International Value (ANJIX): Bronze (from Silver)
  • Columbia Select Large Cap Growth (UMLGX): Neutral (from Bronze)
  • MFS Global Alternative Strategy (DVRIX): Neutral (from Bronze)
  • Virtus Foreign Opportunities (JVIAX): Neutral (from Bronze)

 

Under Review

  • BlackRock Basic Value (MDBAX): Bronze

 

New Ratings (Partial List)

  • Aberdeen U.S. Small Cap Equity (GSCIX): Bronze
  • Parnassus Mid-Cap (PARMX): Silver

 

The full list of new Morningstar ratings for 29 mutual funds and 33 ETFs is available here.

— Check out Lipper Names Top Fund Managers of 2017 on ThinkAdvisor.