The Morningstar Analyst Rating for funds represents the firm's conviction in the strategy'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 — Gold, Silver and Bronze — in addition to Neutral and Negative ratings.
Morningstar Medalists currently account for approximately 6% of unique mutual funds available for sale in the United States and 62% of assets under management. According to the firm, it rates approximately $12.8 trillion of U.S. investor assets, or about 70% of total investor assets in the United States.
The following rating changes occurred in June 2019:
Upgrades (4 mutual funds, 1 ETF)
- BlackRock Emerging Markets (Neutral to Bronze)
- BlackRock Global Long/Short Equity (Bronze to Silver)
- Dodge & Cox Global Bond (Bronze to Silver)
- FlexShares iBoxx 3-year Target Duration TIPS (Bronze to Silver)
- Wells Fargo Emerging Markets Equity (Neutral to Bronze)
Downgrades (7 mutual funds, 1 SMA)
- MainStay Floating Rate (Bronze to Neutral)
- Pimco Emerging Markets Currency and Short/Term Investments (Bronze to Neutral)
- Pimco Emerging Markets Bonds (Bronze to Neutral)
- Pimco Emerging Markets Local Currency and Bond (Bronze to Neutral)
- Templeton Global Balanced (Bronze to Neutral)
- USAA Growth and Tax Strategy(Bronze to Neutral)
- Vulcan Value Partners (Bronze to Neutral)
- Vulcan Value Partners Large Cap Value (Bronze to Neutral
Under Review (8 mutual funds)
- Fidelity New Markets Incomes Market Income (from Silver)
- Invesco Oppenheimer Capital Income (from Neutral)
- Invesco Oppenheimer Global Allocation (from Neutral)
- Invesco Oppenheimer Senior Floating Rate (from Neutral)
- JHancock Global Absolute Return Strategies (from Neutral)
- USAA Tax Exempt Intermediate-Term (from Neutral)
- USAA Tax Exempt Short-Term (from Neutral)
- USAA VA Bond (from Neutral)
New Ratings (10 mutual funds, 13 ETFs, 5 CITs)
- Brandes Emerging Markets Value (Silver)
- Fidelity Corporation Bond (Neutral)
- First Trust Emerging Markets Local Currency Bond (Negative)
- First Trust Institutional Preferred Securities and Income (Neutral)
- First Trust Preferred Securities & Income (Neutral)
- First Trust Senior Loan (Neutral)
- First Trust SSI Strategic Convertible Securities (Neutral)
- First Trust Tactical High Yield (Neutral)
- Goldman Sachs GQG Partners International Opportunities (Silver)
- Hartford Municipal Opportunities ETF (Neutral)
- Invesco Oppenheimer Portfolio Series: Active Allocation (Neutral)
- Invesco Oppenheimer Portfolio Series: Conservative Investor (Neutral)
- Invesco Oppenheimer Portfolio Series: Growth Investor (Neutral)
- Invesco Oppenheimer Portfolio Series: Moderate Investor (Neutral)
- JPMorgan Global Bond Opportunities (Neutral)
- Manning & Napier Pro-Mix (Bronze)
- Morgan Stanley Institutional Fund (Bronze)
- Principal Active Income (Neutral)
- Principal Investment Grade Corporate Active (Neutral)
- Prudential Core Plus Bond (Silver)
- SPDR SSGA Income Allocation (Neutral)
- SPDR SSGA Ultra Short-Term Bond (Neutral)
- T. Rowe Price Growth Stock (Bronze)
- T. Rowe Price Institutional Frontier Markets Equity (Bronze)
- T. Rowe Price QM US Small & Mid-Cap Core Equity (Silver)
- T. Rowe Price U.S. SC Value Equity (Bronze)
- Wells Fargo Enhanced Stock Market (Neutral)
- WisdomTree Emerging Markets Local Debt (Neutral)
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