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Fund Spy

5-Star Funds That Are Less Than Meets the Eye

Nice returns aren't enough to win us over.

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More often than not, the Morningstar Rating for funds, or "star" rating, and the Morningstar Analyst Rating are in general agreement. But there are times when there’s a sharp contrast between the two.

The star rating is a purely quantitative, backward-looking measure that rates funds based on their risk-adjusted returns over three-, five-, and 10-year periods. Funds are rated versus their Morningstar Category peers and then given star ratings, with equal numbers above and below 3 stars. The star rating is updated monthly.

Russel Kinnel does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.