Small Blend Medalist Funds

Here we highlight mutual funds and ETFs that typically focus on stocks in the bottom 10% of the capitalization of the US equity market that do not have pronounced tilts towards growth or value characteristics with respect to valuation ratios, dividend yields, and growth rates on earnings and sales, among other metrics. We narrow the list to those strategies that also received a Gold, Silver, or Bronze Medalist Rating by our analysts. The Morningstar Medalist Rating is the forward-looking assessment of an investment strategy. The rating is on a five-tier scale running from Gold to Negative. For actively managed funds, Morningstar assigns Gold, Silver, and Bronze ratings to vehicles expected to add value over the long term when compared with a relevant Morningstar Category index after accounting for fees and risk. For passive strategies, funds and ETFs with the top ratings are expected to deliver alpha that exceeds the lesser of the category median net alpha, or zero, over the long term.