RT Journal Article
SR Electronic
T1 Estimation Risk in Morningstar Fund Ratings
JF The Journal of Investing
FD Institutional Investor Journals
SP 67
OP 75
DO 10.3905/joi.2002.319527
VO 11
IS 4
A1 H.D. Vinod
A1 Matthew R. Morey
YR 2002
UL https://pm-research.com/content/11/4/67.abstract
AB The well-known Morningstar mutual fund star rating system rates funds regardless of age differences. This means the estimates that younger fund ratings are based on have significantly higher estimation risk than the estimates that the ratings of older funds are based on. Investors should be somewhat less confident that the ratings of younger funds are truly what they are estimated to be. The point should be clear in an investigation of 1,281 international equity mutual funds.