Funds reviewed by Morningstar had a tough June. The research group downgraded ratings for four funds, affirmed ratings for 74 funds and one target date series, and placed one target date series under review.
No upgrades were given, though Morningstar did assigned new ratings to 83 funds. Information on its latest research, which included a look at 161 U.S. mutual funds and exchange-traded funds and two target-date series is available online.
The 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, 142 U.S. funds have a rating of Gold, 324 have Silver, 553 have Bronze, 574 have Neutral, and an unlucky 13 have Negative ratings.