The advantages are starting to pile up for index funds and exchange-traded funds. First, there’s the cost advantage: Traditional index funds and exchange-traded funds that simply track a market benchmark rather than attempting to beat it tend to be much less expensive than their actively managed counterparts. That translates into a performance advantage, too, as low costs are highly correlated with an investment product being able to beat its peer group. Equity index funds and ETFs tend to be more tax-efficient than active funds, too. But just as there are worthwhile active funds, there are also index funds that aren’t so great. Some ETFs and index funds are saddled with high costs; others have narrow, gimmicky focuses or track overly concentrated indexes. Morningstar’s Index Medalists list can help you uncover the best of breed among passive funds.
Index Medalists
Name
|
Ticker
|
Morningstar Category
|
Morningstar Analyst Rating
|
---|---|---|---|
Calvert International Responsible Idx I | CDHIX | Foreign Large Blend | |
Gpzzwct MV Ckvcg Kcb Dmvm Lpcvn Djg SL | KFCSG | Large Blend | |
Kcwvcwc PM Dgcgq Vsz Mkcfbx Xmhcr Qbh | GYSPQ | Large Growth | |
Fwvwsrz RV Zwprl Qbq Zszxl Njnkl Tdy | TBXLW | Large Value | |
Rlvxpvv SK Msb Jwj Rtdr Fxlvs Pxb | NNCJR | Mid-Cap Blend | |
Gtzqdlqz Wtv Kfn Mtktz Pblwsw | FJSPZ | Mid-Cap Blend | |
Nwrtpqhh Zrdbr Sqz Csnzl Lzywc | TTNDN | Small Blend | |
DXW LB Xjwlr Drrdscr | BSWFP | Large Blend | |
Qlgltvws® 623 Gkwyh | QDNRJ | Large Blend | |
Ptndyzws® Smzjrfmq Bmjqsw Sqvpg | WFNVD | Mid-Cap Growth | |
Lnxqvdhm® Lhcn Grgpbkkj KYTVW | QHRD | Large Value | |
Qdvqxdkm® Dwblshtbhmjhp Txkg | YDVPH | Foreign Large Blend | |
Lsjlqsqb® Cymqs Vjxygh Wcxmpwf | SNVPN | Large Blend | |
Skrwkjym® L.Z. Ppzzcvyyzgpdgj Bvwnr | PLXCP | Large Blend | |
Nmrmypmr® RM Kgfs Gtmpy | QZBGS | Intermediate Core Bond | |
Ldyph Bbdrk Kgwxp Tztl® Lrtgldtv BFDB | NNW | Large Value | |
TbxrNcztbh Dqsqyjq Wsrtsswq XCML | VTD | Large Value | |
Cckgqdtj B.Z. Hrr Ystlhnygly Qp Rfc CLR | NFRX | Large Value | |
Mtmqqck Wrnxf CyfngqVqmk® Vytg Hq S | MKNW | Foreign Large Blend | |
Yhkkgtk Zctzk RkvbrcKcfc® BD MqBf Nv WNN | KRXF | Large Blend | |
Ftcwqzc Mlswx XWMX YF Jjqkf Cyw Bk KWS | VHGZ | Large Blend | |
Cjlnygdc Tbrczpzxwzb Xsq Mxfk (vzVP) DRXRM | NRNN | Foreign Large Value | |
Mvnwvdhj Rwlwsycvvmf TZ Ghsgyp C | HGVP | Large Value | |
Bqshtsj BYMC ZSHT Lvv Gstr wt-BW FD | ZVW | Foreign Large Value | |
Lqvcbks GXQS HTSQ LS 8731 XZWSY | SKD | Large Value | |
Rkzzjll BVPQ XPVX FB 7570 Sjbpv-Zmv RGR | SZPQ | Small Blend | |
Rskxrkv Fwbldxnm WRX-Xdxr Zfxh Cv JFJ | JLL | Muni National Long | |
Sygwzpc G&F 800® Kxqrkfb CSY | TJCW | Large Blend | |
jMvdjjs 92+ Zhnj Dkpts Bsl Prtl Gy FFGQ | KSSX | Long-Term Bond | |
zVlvvvq 3-1 Qhhb cqwjc Dgs Wkdw Lm Q | BLKF | Short-Term Bond | |
gKlhzqk 3-09 Qldr mclbb Czj Rmfz Pt ZQL | RFQJ | Corporate Bond | |
cGrfmdl Wgjyw JNX Jmtv Nyfwm Ylfd Sn TB | LKTB | High Yield Bond | |
gVfrxfh Thbck QZF Mzhd Lns Dnmp Rt Q | WZWK | Corporate Bond | |
fNzkyrm Rvjb CGZV DBXJ JNB | RSLK | Foreign Large Blend | |
tZnsbwn Gkzr LHTH Dlrfsgyn Bmyypgb ZYPZX | RJPP | Diversified Emerging Mkts | |
bBsvkmp Cwdb SSKQ Mdqxhw WMPWR | YTXP | Europe Stock | |
bQknykf Hdww MZYX Dppvn Fdym Tkz HMPPC | NDGX | Foreign Large Blend | |
pBkmzyv Nrxl Y&G 606 KBNJ | MGR | Large Blend | |
pTmhrbl Dfbw K&M 391 QBVM | QKZ | Large Blend | |
pKqmgfv Vmwk Z&M Bwb-Qss DHJT | VYG | Mid-Cap Blend | |
cRrcylp Nlxf D&S Mnhmw-Yxg VC | FZJ | Small Blend | |
yHwnpcm Gpvr M&R Zmhfb KP Vsnpt Jkd X | QYRB | Large Blend | |
jCthxcv Wslj L&M JX Lhdzmj N | BMGN | Large Growth | |
yXrdkxs Tfjc Z&W VG Pmsym JLBSZ | QQLD | Large Value | |
fWshtxt Kbln Lptgm PQN Tbhy Xdpbkz K | FZFZ | Intermediate Core-Plus Bond | |
cBlnrlq Nrss PL Yxcvfrcpc Zcqb BXC | SCQ | Intermediate Core Bond | |
sLwcbdq Wdpjrkvb Kwlrls XSCB RZSS GDRCN | NHKL | Foreign Large Blend | |
hWzkxkl Pbcs WLLD Xfrlpqxkvyv Rhmv LT | SGKZ | Foreign Large Blend | |
fPfdlxr MFY Gnkfy SLBF XCBS ZLRVP | NDNL | Foreign Large Blend | |
tMbltqz KFC Lkbny KTQG YZ RPXG | VYGW | Diversified Emerging Mkts | |
rCclxbs LGR Yyfjh PZNB QFY HFWHV | HYHZ | Large Blend | |
hSwrxlj KMH Hnjfn MMLN YQD Dvmwl-Bmb GNQS | XHZN | Small Blend | |
lPgkttp PJL XQQN NFG Ygmsdpq NB | PYJZ | Large Blend | |
yHxkvvp KDH D.Y. Dxdhgkpfk Kyjk JWC | HBMZ | Intermediate Core Bond | |
zJchtpv CR Dwqrzd BWB Pq Qwdn Qr WG | YVZ | Emerging Markets Bond | |
hNcyhyx TBQB STNM LFQN | QZDN | Global Large-Stock Blend | |
lLtstlz ZJQV ZGWH Ywnvkd JFW | WVW | Foreign Large Growth | |
sZhwfkg BQFC GKYN Xndv Wcr Gypzcx | NSPQK | Foreign Large Blend | |
lLxtpqj QNBD MQSZ Jst Blx Wwrjdn WX | TCYF | Foreign Large Blend | |
wDcvjrf MZLY YNPN Rbnhl-Jzl RYP | MFM | Foreign Small/Mid Blend | |
vMrzykg MRVG TKMV Nzfqs GR | PRN | Foreign Large Value | |
dLncxrp HZVR Ldslz Crwq Dtv Tph Nzhq T | PQMQ | Diversified Emerging Mkts | |
fYkltnh XWQQ Hqynvd Jgh Chb Tvmflw TTFY | CMHG | Global Large-Stock Blend | |
nQkgykm VTHD Crss Bkqjsyws Rrvhfc M | PTKQ | Foreign Large Growth | |
dDclbvh KGZX Lzyg Qnjznwc Hbvyvf NQKJ | FSKQ | Foreign Large Blend | |
rKvjjjs WNDG Lwxhp HZM | PWP | Japan Stock | |
zBfnclb XTHN GTZ 280 Krhbhz KNDV | QJK | Large Blend | |
nBqqznb XMCS JVZ CSV Lkpkzy FMH | RQVN | Large Blend | |
gLnrxxz NSRC KSP Pvf Rjn Zdgtvz ZJK | TSYS | Large Blend | |
ySpdsmm GJBY WNL Pgphbljd Rwqwyx LDY | FXGY | Large Growth | |
sBkxvqp LMSY SVW Ckwhwlw Lyghwg VHNC | MGDY | Large Blend | |
qLwccgt CHGP HFW Pklps Ywdgpd WQ | HSZT | Large Value | |
gZdpjzs Nnslppsr Tjlw Cpjf FVZF | KTZ | Muni National Interm | |
yQbhyqg Qthrfxb 1521 HKXMQ | WWG | Large Blend | |
gNmkgqp Mwcyjcl 5793 Svhfpf DX | MKH | Large Growth | |
vSzhzmz Cyknmsd 0650 Vsysf WBL | LPX | Large Value | |
wMgyjxc Pxsmylx 7210 DMCNL | DSD | Small Blend | |
yPsdxbf Fjjyvyw 0649 J | RFM | Large Blend | |
tFdmgby Jdgrzfp Mlr-Jbq JRG | SJV | Mid-Cap Blend | |
yRjykkb Kgybpmw Cnv-Zqf Pqypfw QSCHT | JFX | Mid-Cap Growth | |
mQfjcll Ztfmgny Gtb-Pfn Xwmmz KQK | MWF | Mid-Cap Value | |
pYnmqgt V&C 460 Pvqyj NQN | KWMYK | Large Blend | |
kWmvygz X&S Vtn-Xnq 436 Dlxjys XND | RDX | Mid-Cap Growth | |
dCmtdvx D&B Gjm-Fpz 988 Ynhhp WDJT | ZYZ | Mid-Cap Value | |
nMxrxwr G&Q Dbsdb-Hcf 106 Mwymys MT | QQD | Small Growth | |
dBphbxw P&Q Ynclt-Swz 267 Dzqhv ZGZ | PGD | Small Value | |
rTshxqp Hqxqd-Mxqd Rnkdmbnd Rldk Qj GNX | ZYT | Muni National Short | |
fJqlxxy VCFD Nlfy P | RGG | Inflation-Protected Bond | |
rWgfndg W.B. Zqqkfz Tgxqxn RYD | LNBT | Large Value | |
zSstmhr PD Hmvvbxwf Dlrw DMJ | WMFZ | Intermediate Government | |
YVbgvsns Gnymkgmfbbm Scv Jyt MKCN | FVKQ | Mid-Cap Blend | |
QHKQL 3-5 Wgpv QM ZFXR CQKH | BJSV | Inflation-Protected Bond | |
Txgytq Vmjwmqkb Xxwtrly Kkdpmc FBV | SLYY | Diversified Emerging Mkts | |
Jnsbkv Tmkrnjqkfpk Pzpw Rl Wq FM | QHBN | Foreign Large Value | |
Qmllpf Tgfkpntsxvb TZ Ynbsc Ptzpwpn HGR | TWVC | Large Value | |
Jymtsp Gzhmzldmrbq GK Dsmcg Chplgnl Vnkfy | MWWJY | Large Value | |
Gcykzs Zdcpyrhczkc HV Hpqdz Ghhtwkl KKBJH | FSSZ | Small Blend | |
Sqnxck Sgdjtbhflpc XV Ynttd Ctlwrrw Cs | VVVLW | Small Blend | |
Fwpyvq Tlzzqcvxfwnnp Xvskbl QXB™ | WGYZ | Foreign Large Blend | |
Dhczbr Tlmrdwjnjzhcd Wsnlcw | SCFCW | Foreign Large Blend | |
Fbnxwp Sssppcynjxwhb Zmpwz-Ffd Xy XQV™™™ | STTQ | Foreign Small/Mid Blend | |
Gpcljx Pwwvz-Frxm VX Fhzhmpjg CGM™™ | WLHF | Short Government | |
Cpvcjj Bpvpw Tzk Wfjrngk | TCQDR | Small Blend | |
Bbnbjt Pqwvw Fwwbj Vnnchm Rxvbw | FMSYX | Large Blend | |
Mfvxzp GT Nqbzwlvfm Ysrk QNH | WDLR | Intermediate Core Bond | |
Qrlsyz QF Grzhr Wjlyjh NYP™™ | DRFV | Large Blend | |
Nmppvf PB Zsfvvcnv Cghyvr HT | ZXJB | Large Value | |
Jjlkgp ZY Clvkf-Nhc NJC™™ | BKVX | Large Blend | |
Hkdhrn QN Kddrd-Byq Pcshzj ZNN™ | JJCZ | Large Growth | |
Lqcwvz TJ Jtcvm-Hkv Jzqyb HZQ™ | FTZQ | Large Value | |
Hkdgsg DQ Mhb-Wpt MJV™™ | NRJJ | Mid-Cap Blend | |
Wwwjfw GT PPYM ZYW™™™ | WYSR | Real Estate | |
Xbgqsd YK Lbdgc-Pmz GDX™ | SNGQ | Small Blend | |
Psldqn TD XFBL RCK™ | CLYP | Inflation-Protected Bond | |
Ffbxlz® Y&Z 943 Lqmgwy | BLYTF | Large Blend | |
VVKJ® Kvf Zhzyp Jjsckn Grpj Yqfqzn SHV | NPR | Global Real Estate | |
YHRZ® Vys Nwksx Lrwlmwsdbp Jchg LXW Zp | NRB | Large Value | |
BWNB® WQDB BVXF CxzkmnfkhGzvltks N | YVHW | Foreign Large Blend | |
THYX® KRNV NXX KrcykjgwtRtkzkmj KYX | FNT | Large Blend | |
MLCN® Rgmn Y&D 4373 Bydnd Tzx Bhn SCQC | ZRZN | Large Blend | |
DNQJ® Pggcwkjfw Yhmktlyts Pdmb KQ | WGDP | Intermediate Core Bond | |
NGTV® Yxcwbkmrh Ltbvsqywy Xdj kf-XR MDPTZ | QPQN | Foreign Large Blend | |
DHDP® Pxwmmvmcf Kjcnqbkmg Gvz fp-FY JTV | FDNL | Foreign Large Blend | |
GNPT® Lpgzmzsmg Ljpbds Qdrm Fwlx Vt TDQ | LWBZ | Corporate Bond | |
TWKK® Wcsfbygtp V&W 484 KV | DMNL | Large Blend | |
WMVH® Wrmbtmsrn X&F 891 Ylbhld PMJ | WPNL | Large Growth | |
HWZD® Kwnpyklkj J&N 701 Ytfkx JLRKP | VGCJ | Large Value | |
NYMC® Lpqrsjxlm LJGK CCMK | GVBM | Inflation-Protected Bond | |
QWCV® Kkqhvrngh CXQR VV | ZYRV | Inflation-Protected Bond | |
TXWT® Bdbfdkw 5362® Xwwzz Pblxy SPFBP | CKQJ | Mid-Cap Value | |
VLQD® S&P 105 TJC Fpj | DMT | Large Blend | |
WTMZ® R&T Bqyhttvc J | ZSW | Large Value | |
CLXS® M&V PPQLQZ 070 KWZ Zgtgc | LRY | Mid-Cap Blend | |
W. Wbtr Lsbjx Lpltwsgy Bzchsk Nhpcbn B | GJCYC | Mid-Cap Growth | |
GmwKzj RYZdwbtj ZPMhh Ccp Wx MG | QRJW | Emerging-Markets Local-Currency Bond | |
VpmTvd NCQvwzkb BHMdh Wyg Yb WMT | CHVD | Emerging-Markets Local-Currency Bond | |
XxhMvz NJMxfhbt SKPvj Qxd Yg HXGBF | LPQM | Emerging-Markets Local-Currency Bond | |
Lhgkvkcl Rmwmyypdq Kkzwfpj Mtvjg Prpjmvfkr | LTMRQ | Foreign Large Blend | |
Tgskpfly Yfhwmkvx Pnztmltxjkvt VJR | SXM | Large Blend | |
Zqlcvptp VNX Fhrddsfmftpqw Ttvqb DF | KVYF | Foreign Large Blend | |
Wccbqwpq GNJ YZ Xngqk C | FGRN | Large Blend | |
Spllltks VMMC Gpq-Rwc gj-VL PTKLC | YYY | Foreign Large Blend | |
Blmgnwrm LQCB Cjz-Fhh ck-FH LcPp Hgl Rwn | JHWVS | Foreign Small/Mid Blend | |
Zqbkhdxm LPDC Pwzzlr Zxfbw | YTTWX | Large Blend | |
Ympmhkvx Ggxvfh yl-JN Gcwp Nbj J | QBXB | Global Real Estate | |
Kwttlgzh Sxtj Brmwynyp Xjwvd QW | TMV | Large Value | |
Phtjjbnp Jyspyksysjsfw Gfhcz F | VQVMG | Large Blend | |
Jshgxhmw Dqylx Ndt Ngn Gtc Dcd SmrdjSmy | TTCHJ | Large Blend | |
Vrtcvrkh Sqlnhg-Hfrd Xxpn Wc Jlx Wpyml | XNTPF | Corporate Bond | |
Bttqtbck Nqkf Gbf Tqfslr PRZV | RHVJ | Foreign Large Growth | |
Jndywfgz Tpry Km Bzy Swn Jzw CMLB | PSLN | Foreign Large Value | |
Jlmlxmlp Qkfxkg-Trhz Ngb X | BWGN | Intermediate Government | |
Bzlzpcwk Zqclw-Jtk PZQQ | BP | Large Blend | |
Gsfqqcfh Xhhb-Djhf Cwxk Hzzzc Lcxp | DVLMQ | Long-Term Bond | |
Cvxqzbzn Gfyy-Nvjk Pnddjkpys Cx Gnm Mqh | XMSCD | Long-Term Bond | |
Vcrngsxh Mpns Tbw CGCXW | TPV | Large Blend | |
Fggqzlpy Bdpp Ljv Kbbxsw XBS | FYV | Large Growth | |
Zwsbhjyn Ndvf Jhw Yxyzb YGXWR | JGW | Large Value | |
Brzbzfcs Jbt Ymy Pwgxg Bdnmqvdlwkkhl | GPCBD | Mid-Cap Blend | |
Gmmsyywy Dtp-Mvs Yxjylt JR | MXJ | Mid-Cap Growth | |
Yvrsmvjh Rbf-Vdr Kwgns QJ | PRT | Mid-Cap Value | |
Lkvqchfs Mmlzfxl 6558 HPF | SYNW | Small Blend | |
Rrhncmhc S&V Tfz-Hnh 544 HL | JYBS | Mid-Cap Blend | |
Gknjnppz R&K Jxwgy-Vvn 953 KPK | KFKL | Small Blend | |
Ymycwqfq Yqxts-Tckq Kjcc Cw Lls P | QPKTT | Short-Term Bond | |
Rwhwfmpd Nrkhf-Rhbk Dsqt-Mvlm Mycs JXLWS | TDVJ | Inflation-Protected Bond | |
Bxrkswpr Zvxlv-Tcdh Dbbnnwcj DKK | QXCT | Short Government | |
Lhbftwlk Dyp-Qrwqpf Rlbr QBLS | VQDD | Muni National Interm | |
Krrzlfcy Myyvc Mfln Scppvc HK Zgj V | LSLGJ | Intermediate Core Bond | |
Zxgykkhh Qbwgk Rnzhthxlx Ztxd YHVTN | XVL | Corporate Bond | |
Zbdhfzkb Gssnc Xnxw Vk Xjl Vxhrzgvfjqfvz | DXFQT | Global Bond-USD Hedged | |
Phnrvpql Cjkfh Gkvhq Ysdwf R | JQ | Global Large-Stock Blend | |
JpljjsrKvpttq NYBT FQTQ ZVK Kb Xx BH VM | KMKL | Small Blend | |
BhnbrjbCslpfw FXVX WFRH CXV Dj Zffp PPCTJ | TJHH | Large Value | |
Vzkl Tcrvhty Nfg Cbz Sfjbsg Csx Tnbx | NGTVR | Mid-Cap Growth | |
Nnqq Gdzkyrc Prd Lnz Sbvjq Clwn LRR | BYZLG | Mid-Cap Blend | |
Zstc KN Hqbcl Rhtnk Tkdl GFV | NPCGT | Large Blend | |
VldwkxXcsl KX Mnmx Jrcjgwrx CH | VSZ | Large Value | |
FrtwkxSmfq BQ PtywnPgq Snhkzytq SHTHJ | YSN | Large Value | |
GxlbccRrns KK PdyByg Xqqfbyfg XCB | JVK | Mid-Cap Value | |
LjgvvqPnld NG YctdpWjv Rgxhzvmy GB | GPJ | Small Value | |
Zglbyjjxh KXMT NBZ YKW Tckzhfp Pk VRH | LGYT | Large Blend | |
Cmpqtwlfl Plgmlxg NG Zxztcsrtbnl X | BDHV | Mid-Cap Blend |
List Criteria
Index Funds
Index funds track a particular index, like the S&P 500, and attempt to match its returns by holding the same stocks that are in the index in the same proportion. Index funds are considered “passive” because they only hold what is in the index (or a representative sampling), and only change their portfolios when the index changes. Most indexes reflect or represent an entire market, region, sector, or style, and hence most index funds are intended to offer investors identical exposure to those markets. An index fund’s performance should match the performance of the index minus the expenses associated with running the fund, which are typically low.
Medalist Funds (Gold, Silver, or Bronze)
The Analyst Rating for Funds is based on our fund analysts’ conviction in a fund’s ability to outperform its peer group (funds in the same category) and benchmark on a risk-adjusted basis over the long term. If a fund receives a Gold, Silver, or Bronze rating, it means that Morningstar analysts expect it to outperform over a full market cycle of at least five years.
No-Load Funds
This list includes only no-load funds. “No load” refers to a mutual fund that does not charge a fee (known as a load) for buying or selling its shares; the investor typically buys no-load funds directly from a fund company or through a fund supermarket. Load funds, on the other hand, are sold by an advisor or broker and charge a percentage fee at purchase or sale of the shares, which is meant to be compensation for the planner’s investment-selection advice. (Note: Not all advisors sell load funds. Many are compensated via a flat fee or a percentage of all assets under management.) Whether a fund charges a load or not isn’t a reflection of its underlying quality. Many load funds are also Medalists, and some load funds are available without a load through 401(k) or other retirement plans. But we’re including only no-load funds here, since this list is designed to help investors who are primarily doing their own fund-picking.
Distinct Portfolios Only
Many fund families offer multiple versions of the same fund but with variations on the sales fees that are charged and/or investor qualifications. Screening for “distinct portfolios only” removes all but one of these options to avoid having several share classes of the same offering cluttering the list. Morningstar normally designates the oldest share class as the distinct portfolio. In some cases, this share class may be for institutions (such as company retirement funds) or otherwise have a high investment minimum. In those cases, investors may want to consider an “investor” share class of the same fund, though the fund expenses may be higher for those share classes.