* How Barron’s Ranks the Fund Families: To qualify for the Barron’s Fund Survey, a fund family must have at least three funds in Refinitiv Lipper’s general equity category, one in world equity, one mixed-asset fund (such as a balanced or target-date fund), two taxable-bond funds, and one national tax-exempt bond fund. Fund loads and 12b-1 fees aren’t included in the calculation of returns because the aim is to measure the manager’s skill.
Each fund’s return is measured against all funds in its Refinitiv Lipper category, resulting in a percentile ranking of 100 being the highest and one the lowest. This result is then weighted by asset size, relative to the fund family’s other assets in its general classification. If a family’s biggest funds do well, that boosts its overall showing; poor performance in its biggest funds hurts a firm’s ranking. Finally, the score is multiplied by the general classification weightings as determined by the entire Lipper universe of funds.
The category weightings for the one-year results in 2020 were general equity, 35.6%; mixed asset, 20.7%; world equity, 17.3%; taxable bond, 21.9%; and tax-exempt bond, 4.8%. The category weightings for the five-year results in 2020 were general equity, 36.2%; mixed asset, 20.9%; world equity, 16.9%; taxable bond, 21.6%; and tax-exempt bond, 4.4%. For the 10-year list, they were general equity, 37.5%; mixed asset, 19.5%, world equity, 17.3%; taxable bond, 20.8%; and tax-exempt bond, 4.8%. Ranking data is from Lipper.
1. The Morningstar Analyst Rating is not a credit or risk rating. It is a subjective evaluation performed by the manager research analysts of Morningstar. Morningstar evaluates funds based on five key pillars, which are process, performance, people, parent, and price. Analysts use this five pillar evaluation to determine how they believe funds are likely to perform over the long term on a risk-adjusted basis. They consider quantitative and qualitative factors in their research, and the weighting of each pillar may vary. The Analyst Rating scale is Gold, Silver, Bronze, Neutral, Negative. A Morningstar Analyst Rating of Gold, Silver, or Bronze reflect an Analyst’s conviction in a fund’s prospects for outperformance. Analyst Ratings are continuously monitored and reevaluated at least every 14 months.
For more detailed information about Morningstar's Analyst Rating, including its methodology, please go to corporate.morningstar.com/us/documents/ MethodologyDocuments/AnalystRatingforFundsMethodology.pdf.
The Morningstar Analyst Rating should not be used as the sole basis in evaluating a mutual fund. Morningstar Analyst Ratings involve unknown risks and uncertainties which may cause Morningstar's expectations not to occur or to differ significantly from what we expected.
Morningstar Analyst Rating Spectrum: Gold: Best-of-breed fund that distinguishes itself across the five pillars and has garnered the analysts’ highest level of conviction. Silver: Fund with notable advantages across several, but perhaps not all, of the five pillars—strengths that give the analysts a high level of conviction. Bronze: Fund with advantages that outweigh the disadvantages across the five pillars and with sufficient level of analyst conviction to warrant a positive rating. Neutral: Fund that isn’t likely to deliver standout returns but also isn’t likely to significantly underperform, according to the analysts. Negative: Fund that has at least one flaw likely to significantly hamper future performance and that is considered by analysts an inferior offering to its peers.
2. The Refinitiv Lipper Fund Awards, granted annually, highlight funds and fund companies that have excelled in delivering consistently strong risk-adjusted performance relative to their peers. The Refinitiv Lipper Fund Awards are based on the Lipper Leader for Consistent Return rating, which is a risk-adjusted performance measure calculated over 36, 60 and 120 months. The fund with the highest Lipper Leader for Consistent Return (Effective Return) value in each eligible classification wins the Refinitiv Lipper Fund Award. For more information, see lipperfundawards.com. Although Refinitiv Lipper makes reasonable efforts to ensure the accuracy and reliability of the data contained herein, the accuracy is not guaranteed by Refinitiv Lipper.
3. Investor’s Business Daily Best Mutual Funds awards are based on relative performance vs. the S&P 500 for the past 1, 3, 5 and 10 years as of 12/31/19. The Fund was one of 139 funds to achieve this result out of 1,323 funds in the U.S. Diversified Stock category.
Investor’s Business Daily Best Mutual Funds awards are based on relative performance vs. the S&P 500 for the past 1, 3, 5 and 10 years as of 12/31/19. The Fund was one of 135 funds to achieve this result out of 523 funds in the Growth category. Investor’s Business Daily Best Mutual Funds awards are based on relative performance vs. the S&P 500 for the past 1, 3, 5 and 10 years as of 12/31/19. The Fund was one of 88 funds to achieve this result out of 719 funds in the Large Cap category.
4. Investor’s Business Daily Best Mutual Funds awards are based on relative performance vs. the Bloomberg Barclays U.S. Aggregate Bond Index for the past 1, 3, 5 and 10 years as of 12/31/19. The fund was one of 203 funds to achieve this result out of 505 funds in the U.S. Taxable Bond category.
New York Life
New York Life Investments At-a-Glance