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Morningstar's April Winners & Losers

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Morningstar published a summary of Morningstar Analyst Rating activity for 166 U.S. open-end mutual funds and exchange-traded funds and three target date series that occurred in April.

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.

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Morningstar Medalists currently account for about 6% of unique mutual funds available for sale in the United States and 70% of assets under management.

The following Morningstar Analyst Rating changes occurred in April 2018:

Upgrades

  1. Artisan Global Value Investor (Gold from Silver)
  2. Buffalo Discovery (Bronze from Neutral)
  3. Fidelity Advisor Industrials (Bronze from Neutral)
  4. Fidelity Select Industrials (Bronze from Neutral)
  5. Pimco Total Return (Gold from Silver)
  6. Prudential Short Duration High Yield (Bronze from Neutral)
  7. T. Rowe Price QM US Small-Cap Growth (Gold from Silver)
  8. Victory Sycamore Established Value (Silver from Bronze)

Downgrades

  1. Ariel Appreciation Investor (Neutral from Bronze)
  2. Columbia Floating Rate (Neutral from Under Review)
  3. Fidelity China Region (Neutral from Bronze)
  4. iShares Currency Hedged MSCI Eurozone ETF (Neutral from Bronze)
  5. iShares MSCI Eurozone ETF (Neutral from Bronze)
  6. Ivy Large Cap Growth (Neutral from Bronze)
  7. Ivy Mid Cap Growth (Neutral from Bronze)
  8. Vanguard Intermediate-Term Investment-Grade (Bronze from Silver)
  9. Vanguard Short-Term Investment-Grade (Bronze from Silver)
  10. Xtrackers MSCI Japan Hedged Equity ETF (Neutral from Bronze)

New Ratings

  1. AB FlexFee Large Cap Growth Advisor (Neutral)
  2. BlackRock Event Driven Equity (Bronze)
  3. TCW Emerging Markets Local Currency (Bronze)

Under Review

  1. American Century Large Company Value (Neutral)
  2. Oppenheimer Global (Silver)
  3. VY Oppenheimer Global (Silver)

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