Archive · 6 Dec 2025
Morningstar Updates Medalist Rating Framework for 2026
Morningstar, a company that rates investment products, is changing how it gives ratings.
Starting in April 2026, they will use a new system.
This system will make it easier to understand how they decide ratings and will make the ratings more stable.
They will look at things like how good the fund managers are and how much the funds cost.
The ratings will be compared to similar funds in the same category, not to outside benchmarks.
They will also add a new score to show how fees affect the rating.
The ratings will still be Gold, Silver, Bronze, Neutral, or Negative.
Morningstar says these changes will help people understand the ratings better and make them less likely to change a lot.
Morningstar will update its Medalist Rating framework globally in April 2026.
The new framework includes more detailed pillar inputs and a new Price Score.
Ratings will be determined by comparing funds to their Morningstar Category average.
Fixed thresholds will be used for rating assignments to reduce volatility.
The rating scale remains Gold, Silver, Bronze, Neutral, and Negative.
- Who
- Morningstar, Inc.
- What
- Updates to the Morningstar Medalist Rating framework
- When
- Implementation in April 2026
- Where
- Globally
- Why
- To simplify the rating structure, increase transparency, and reduce rating volatility
- Announcement Date
- December 5
- Implementation Date
- April 2026
- Rating Scale
- Gold, Silver, Bronze, Neutral, Negative
- New Metrics
- Fund Manager Successful Experience
- Price Score Range
- -2.5 to 2.5
- Evaluation Basis
- Morningstar Category average
- Rating Assignment
- Fixed combinations of fundamental pillar outcomes and Price Score