|
Morningstar RatingsTM Stars Rating
Reviewed monthly, this rating measures the extent and consistency of a fund's outperformance, relative to its sector, over a three-year period. Five stars is the highest rating.
Funds are ranked within their sector by dividing their average relative monthly performance over the last 36 months by their average monthly volatility.
The ranking the fund achieves in its sector determines how many Standard & Poor's Fund Stars are awarded:
|
Sector ranking
|
No. of fund stars
|
| Top 10% |
5 Stars |
| Top 11-30% |
4 Stars |
| Top 31-50% |
3 Stars |
| Next 25% |
2 Stars |
| Bottom 25% |
1 Star |
|
|
|
|