In April, Morningstar’s Manager Research Group assigned new ratings to three funds. Analysts also upgraded ratings for eight funds, downgraded ratings for 10 funds, affirmed ratings for 139 funds and three target-date series, and placed three funds under review.
The Morningstar Analyst Rating for funds represents Morningstar’s conviction in the fund’s ability to outperform on a risk-adjusted basis over the long term. The five-tiered, qualitative Morningstar Analyst Rating scale has three positive levels, indicating Morningstar Medalists — Gold, Silver and Bronze — in addition to Neutral and Negative ratings.
As of April 30, 2018, Morningstar analysts had assigned a Morningstar Analyst Rating of Gold to 158 unique U.S. funds, a Silver rating to 326 funds, a Bronze rating to 581 funds, a Neutral rating to 686 funds, and a Negative rating to 19 funds.