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Fund Spy: Morningstar Medalist Edition

8 Upgrades, 6 Downgrades in May

Overall, we published 161 ratings and rated nine new strategies.

Mentioned: , , , , , , ,

In May, Morningstar manager research analysts affirmed the Morningstar Analyst Ratings of 130 funds, one target-date series, and three separate accounts; upgraded the ratings of eight funds; downgraded the ratings of six funds; placed four funds’ ratings under review; and assigned new ratings to seven funds, one separate account, and one model portfolio. 

JPMorgan Equity Income 
Strong execution of a solid strategy raised  JPMorgan Equity Income's (HLIEX) rating to Gold from Silver. Manager Clare Hart focuses on companies with at least 2% dividend yields while paying attention to future earnings growth. The portfolio mostly owns durable franchises with high returns on capital, so its income doesn’t usually top its peers. However, it has made up for the lower yield with total returns. Hart also doesn’t take much price risk, buoying the fund in turbulent markets. Reasonable expenses add to its appeal. 

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