Terms and Conditions

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Your use of data or content provided by U.S. News or any third-party affiliate is entirely at your own risk, and it is the user's sole responsibility to evaluate the accuracy, completeness, and usefulness of all data or content displayed herein. Data, rankings, ratings and scores, or other content displayed on this site do not constitute any recommendation to buy or sell any security and should be used for informational purposes only. Under no circumstances shall U.S. News or its third-party affiliates be liable for direct, indirect, incidental, special, punitive, or consequential damages that result in any way from your use of or reliance upon data presented, including damages resulting from mistakes, omissions, interruptions, or defects in the data displayed by U.S. News or any third-party affiliates. Past performance is no guarantee of future results. It is your responsibility to understand the methodology employed by U.S. News and the underlying methodologies employed by each data provider. A high score or ranking is not indicative of a flawless fund; even the most highly ranked or scored funds may lose value in the short or long term or may not serve your individual investing needs. 

U.S. News editorial staff may hold positions in individual securities and mutual funds. In cases where there is an individual author of an article and he or she has actual knowledge that he or she holds a position in a security of the subject of the article at the time of publication, appropriate disclosure will be made. 

This agreement shall for all purposes be governed, interpreted, construed, and enforced solely and exclusively in accordance with the laws of the state of New York, and any claim, complaint, or action arising from the use of this site must be brought in any federal or state court located in the County of New York. 

THE USE OF DATA PROVIDED BY THIRD PARTIES IS SUBJECT TO THE ADDITIONAL TERMS AND CONDITIONS STATED BELOW: 

Morningstar: 

© 2010 Morningstar Inc. All rights reserved. The information contained herein (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results. 

For Open-End Funds: 

For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating™ based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10 percent of funds in each category receive 5 stars, the next 22.5 percent receive 4 stars, the next 35 percent receive 3 stars, the next 22.5 percent receive 2 stars, and the bottom 10 percent receive 1 star. (Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages.) The overall Morningstar Rating for a fund is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. Past performance is no guarantee of future results. 

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