[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"detail-sidebar-cat-1-en-105":3,"doc-seo-565796-105":53,"doc-detail-565796-en":127},{"code":4,"msg":5,"data":6},0,"success",[7,14,19,24,29,34,39,44,49],{"id":8,"doc_module":9,"doc_module_name":10,"category_name":11,"show_sort_weight":12,"slug":13},11,1,"Template","Presentations",90,"presentations",{"id":15,"doc_module":9,"doc_module_name":10,"category_name":16,"show_sort_weight":17,"slug":18},12,"Resumes",80,"resumes",{"id":20,"doc_module":9,"doc_module_name":10,"category_name":21,"show_sort_weight":22,"slug":23},14,"Invoices",70,"invoices",{"id":25,"doc_module":9,"doc_module_name":10,"category_name":26,"show_sort_weight":27,"slug":28},15,"Posters",60,"posters",{"id":30,"doc_module":9,"doc_module_name":10,"category_name":31,"show_sort_weight":32,"slug":33},16,"Social Media",50,"social-media",{"id":35,"doc_module":9,"doc_module_name":10,"category_name":36,"show_sort_weight":37,"slug":38},17,"Forms",40,"forms",{"id":40,"doc_module":9,"doc_module_name":10,"category_name":41,"show_sort_weight":42,"slug":43},18,"Letters",30,"letters",{"id":45,"doc_module":9,"doc_module_name":10,"category_name":46,"show_sort_weight":47,"slug":48},21,"Paper Templates",5,"papers-templates",{"id":50,"doc_module":9,"doc_module_name":10,"category_name":51,"show_sort_weight":4,"slug":52},158,"General","general-158",{"code":4,"msg":54,"data":55},"ok",{"site_id":56,"language":57,"slug":58,"title":59,"keywords":60,"description":61,"schema_data":62,"social_meta":120,"head_meta":122,"extra_data":124,"updated_unix":126},105,"en","how-to-read-a-morningstar-fund-analyst-report-guide","How to Read a Morningstar Fund Analyst Report - Guide","","This guide explains how to interpret a Morningstar fund analyst report by focusing on key evaluation components. It covers the Morningstar Rating for Funds (star rating) and how risk-adjusted performance, category quintiles, and multiple time-period ratings combine into an overall score. It then details the Morningstar Analyst Rating (medal rating), including Gold-to-Negative tiers, conviction strength, and the role of benchmarks and peer groups. Finally, it outlines how performance, price, and portfolio information support fund assessment.",{"@graph":63,"@context":119},[64,80,102],{"@type":65,"itemListElement":66},"BreadcrumbList",[67,71,74,77],{"item":68,"name":69,"@type":70,"position":9},"https://docshare.wps.com","Home","ListItem",{"item":72,"name":10,"@type":70,"position":73},"https://docshare.wps.com/template/",2,{"item":75,"name":51,"@type":70,"position":76},"https://docshare.wps.com/template/general/",3,{"item":78,"name":59,"@type":70,"position":79},"https://docshare.wps.com/template/how-to-read-a-morningstar-fund-analyst-report-guide/565796/",4,{"url":78,"name":59,"@type":81,"image":82,"author":87,"headline":59,"publisher":90,"fileFormat":93,"inLanguage":57,"description":61,"dateModified":94,"datePublished":95,"encodingFormat":93,"isAccessibleForFree":96,"interactionStatistic":97},"DigitalDocument",{"url":83,"@type":84,"width":85,"height":86},"https://docshare.wps.com/thumbnails/how-to-read-a-morningstar-fund-analyst-report-guide/565796.png","ImageObject",442,249,{"name":88,"@type":89},"percent12345","Person",{"url":68,"name":91,"@type":92},"DocShare","Organization","application/pdf","2026-10-29","2026-10-13",true,{"@type":98,"interactionType":99,"userInteractionCount":101},"InteractionCounter",{"@type":100},"ViewAction",7,{"@type":103,"mainEntity":104},"FAQPage",[105,111,115],{"name":106,"@type":107,"acceptedAnswer":108},"How does the Morningstar star rating work for funds and ETFs?","Question",{"text":109,"@type":110},"The star rating scores mutual funds and ETFs from 1 to 5 stars based on how well they performed after adjusting for risk and sales charges relative to similar funds and ETFs.","Answer",{"name":112,"@type":107,"acceptedAnswer":113},"What does the Morningstar Analyst Rating (medal rating) indicate?",{"text":114,"@type":110},"The medal rating expresses analysts’ conviction about a fund or ETF’s ability to outperform peers. It uses a five-tier scale from Gold to Negative and is evaluated relative to an appropriate benchmark and peer group.",{"name":116,"@type":107,"acceptedAnswer":117},"What does the Performance, Price, and Portfolio information help you evaluate?",{"text":118,"@type":110},"Performance examines returns in absolute and peer-relative terms across time periods in the context of risk. Price ranks expense ratio versus the Morningstar category and links it to expected outperformance. The Portfolio tab shows the types of securities held and their proportions.","https://schema.org",{"og:url":78,"og:type":121,"og:title":59,"og:site_name":91,"og:description":61},"article",{"robots":123,"canonical":78},"index,follow",{"doc_id":125,"site_id":56},565796,1792100299,{"code":4,"msg":5,"data":128},{"doc_id":125,"user_id":129,"nickname":88,"user_avatar":130,"doc_module":9,"category_id":50,"category_name":51,"doc_title":59,"doc_description":61,"doc_content":131,"file_id":132,"file_url":133,"file_type":134,"file_size":135,"view_count":101,"is_deleted":4,"is_public":9,"is_downloadable":9,"audit_status":9,"page_count":79,"language":136,"language_code":57,"site_id":56,"html_lang":57,"table_of_contents":137,"faqs":138,"seo_title":139,"seo_description":61,"update_tm":140,"read_time":73},1099529851338,"https://ap-avatar.wpscdn.com/davatar_155a257f0dc6eb9ab79c44ca47cae57d","How to Read a Morningstar Fund Analyst Report  \nThe Morningstar Analysis section contains a thorough evaluation of an investment’s merits and drawbacks and often discusses the most important or decisive factors leading to the fund’s overall rating.  \n1 2  \n1 How Did the Fund Perform, and What Does that Mean?  \ng The Morningstar Rating for Funds (the “star rating”) scores mutual funds and ETFs from 1 to 5 stars based on how well they’ve performed (after adjusting for risk and accounting for sales charges) relative to similar funds and ETFs.  \ng Within each Morningstar Category, funds are ranked into quintiles based on their risk-adjusted performance, with the top 10% of funds and ETFs receiving 5 stars and the bottom 10% receiving 1 star.  \ng Funds and ETFs are rated for up to three time periods—three, five, and 10 years—and these ratings are combined to produce an overall rating. Funds and ETFs with less than three years of history are not rated.  \ng The star rating is objective and data-driven; it’s based entirely on a mathematical evaluation of past performance. It can be a useful tool for identifying funds and ETFs that have performed well relative to peers on a risk-adjusted basis and may be worthy of further research, but the star rating alone shouldn’t be considered a buy or sell signal.  \n2 Will this mutual fund outperform its peers in the future?  \ng The Morningstar Analyst Rating for Funds (the “medal rating”) expresses how much conviction our analysts have ina fund or ETF’s ability to outperform its peers. Morningstar Analyst Ratings are assigned globally on a five-tier scale running from Gold to Negative.  \ng The top three ratings, Gold, Silver, and Bronze, all indicate that our analysts recommend a fund  \ng The difference between them corresponds to the strength of the analysts’ conviction in a fund’s ability to outperform its benchmark and peers over time, within the context of the level of risk taken.  \ng Funds that our analysts do not believe will outperform, or that they expect will underperform, are rated Neutral. Funds that we expect to lag their peers by a wider margin are rated Negative.  \ng The Analyst Rating does not express a view on whether a given asset class or peer group will outperform another, such as whether stocks will outperform bonds. Rather, the rating evaluates each fund relative to an appropriate benchmark and peer group.  \n| Gold | Top 15% of funds expected to outperform in their Morningstar category | We expect Gold-rated funds to outperform a relevant index or Morningstar category average by the widest margin |\n| --- | --- | --- |\n| Silver | Next 35% of funds expected to outperform in their Morningstar category | We expect Silver-rated funds to outperform a relevant index or Morningstar category average by a lesser margin than Gold-rated funds, but more than Bronze-rated funds |\n| Bronze | Remaining 50% of funds expected to outperform in their Morningstar category | We expect Bronze-rated funds to outperform a relevant index or Morningstar category average, but by the smallest margin |\n| Neutral | Top 70% of funds expected to underperform in their Morningstar category | We expect Neutral-rated funds to underperform a relevant index or Morningstar category average, but by a smaller margin than Negative-rated funds |\n\nNegative Remaining 30% of funds expected to un- We expect Negative-rated funds to underperform a relevant derperform in their Morningstar category index or Morningstar category average by the widest margin  \ng Morningstar made improvements to our Analyst Rating for funds designed to make it easier to understand and use. On Oct. 31, 2019, we began to update the ratings for an initial batch of funds under the new framework. We are updating the ratings for the rest of the funds we cover on a rolling schedule over the next 12 months.  \ng The new Analyst Rating is centered around the three areas (or “pillars”) of our analysis that have proved most predictive of future performance: ","cbCailjSP7oomDtB","https://ap.wps.com/l/cbCailjSP7oomDtB","pdf",680162,"English","# Morningstar Analysis\n## How Did the Fund Perform, and What Does that Mean?\n## Will this mutual fund outperform its peers in the future?\n## What general information can help me with my evaluation of a fund?","[{\"question\":\"How does the Morningstar star rating work for funds and ETFs?\",\"answer\":\"The star rating scores mutual funds and ETFs from 1 to 5 stars based on how well they performed after adjusting for risk and sales charges relative to similar funds and ETFs.\"},{\"question\":\"What does the Morningstar Analyst Rating (medal rating) indicate?\",\"answer\":\"The medal rating expresses analysts’ conviction about a fund or ETF’s ability to outperform peers. It uses a five-tier scale from Gold to Negative and is evaluated relative to an appropriate benchmark and peer group.\"},{\"question\":\"What does the Performance, Price, and Portfolio information help you evaluate?\",\"answer\":\"Performance examines returns in absolute and peer-relative terms across time periods in the context of risk. Price ranks expense ratio versus the Morningstar category and links it to expected outperformance. The Portfolio tab shows the types of securities held and their proportions.\"}]","How to Read a Morningstar Fund Analyst Report - Guide | PDF",1791858224]