A component of the Stewardship Grade for Fund Firms (17% of overall U.S. grade)
This section assesses one aspect:
Are the fund firm’s offerings a good value for shareholders? Morningstar’s assessment will be based on a comparison of the firm’s fund fees relative to those with similar strategies and share classes. In the U.S., Morningstar will determine the fund family’s average fee level percentile rank, which results from peer-based comparisons, to determine the firm’s fee rating for the Stewardship Grade. Outside the U.S., asset-weighted expenses are also considered. Management companies with fees that are among the industry’s best value propositions will earn full credit.