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Morningstar Help
Why doesn't my fund have a Morningstar Rating?
There are a few reasons why a fund would not get a rating.
  • The fund is not three years old yet.
  • The fund’s rating has been suspended.
  • There are a few “convenience” categories that are not rated, because the group contains different funds with different risk factors. For example, Morningstar does not rate funds in the U.S. bear-market category or the Europe guaranteed category.
  • If the category is small, the sample may not be robust enough to calculate a rating. Morningstar requires at least five distinct portfolios in a category for a specific time period in order to calculate that rating.
Read more about the Morningstar Rating.
Why do two funds with similar performances receive different Morningstar Ratings?
The Morningstar Rating system is an objective mathematical evaluation of funds based on their past performance, which takes into account also their risk and sales load. A difference in risk and sales load can thus affect an investment rating.
Why is my fund rated differently according to the Morningstar Rating and the Morningstar Qualitative Rating?
The difference between our Morningstar Rating and the Morningstar Qualitative Rating is that the former mathematically rates investments based on how well they’ve performed in the past, so this is an objective measure; the latter reflects the assessment of a fund’s investment merits and its capacity to perform in the future, thus being a subjective statement. This is the reason why a fund can have a Morningstar Rating that is different to its Morningstar Qualitative Rating. Please find detailed information regarding the Morningstar Methodology used for our ratings in the Help section, which you can access by clicking on Help at the bottom of every page.
How often do you update the Morningstar Rating and the Morningstar Qualitative rating?
Our Morningstar rating is updated on a monthly basis. During the first days of the month we gather the information from the previous month and we calculate the rating based on that information. The Morningstar Qualitative rating shows our current rating for the fund regardless of the publication date of its qualitative report.