Using actual monthly returns and, if applicable, extended performance, we calculate the total return percentile rank within each Morningstar Category. The highest (or most favorable) percentile rank is 1 and the lowest (or least favorable) percentile rank is 100.
Historical percentile ranks are based on a snapshot of the funds that had actual performance at the time of the calculation. Additional monthly returns created through extended performance do not affect the historical rankings of funds with actual performance. The extended performance total return percentile rank in category is determined by comparing the extended performance trailing returns to the trailing returns and percentile ranks for the funds with actual performance.