Morningstar Return

An assessment of an investment's excess return over a risk-free rate (the return of the 90-day Treasury bill), after adjusting for all applicable loads and sales charges if needed, in comparison to similar investments. Morningstar Return is displayed in decimal format and is based off of the raw data described above. Morningstar Return is measured for up to three time periods (3-, 5-, and 10-years). These separate measures are then weighted and averaged to produce an overall measure for the investment. Morningstar Return is displayed in decimal format and is calculated only for those investments with at least three years of performance history.