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.
