The Morningstar Star Rating for Stocks is assigned based on an analyst's estimate of a stocks fair value. It is projection/opinion and not a statement of fact. Morningstar assigns star ratings based on an analyst’s estimate of a stock's fair value. Four components drive the Star Rating: (1) our assessment of the firm’s economic moat, (2) our estimate of the stock’s fair value, (3) our uncertainty around that fair value estimate and (4) the current market price. This process culminates in a single-point star rating that is updated daily. A 5-star represents a belief that the stock is a good value at its current price; a 1-star stock isn't. If our base-case assumptions are true the market price will converge on our fair value estimate over time, generally within three years. Investments in securities are subject to market and other risks. Past performance of a security may or may not be sustained in future and is no indication of future performance. For detail information about the Morningstar Star Rating for Stocks, please visit here
Quantitative Fair Value Estimate represents Morningstar’s estimate of the per share dollar amount that a company’s equity is worth today. The Quantitative Fair Value Estimate is based on a statistical model derived from the Fair Value Estimate Morningstar’s equity analysts assign to companies which includes a financial forecast of the company. The Quantitative Fair Value Estimate is calculated daily. It is a projection/opinion and not a statement of fact. Investments in securities are subject to market and other risks. Past performance of a security may or may not be sustained in future and is no indication of future performance. For detail information about the Quantiative Fair Value Estimate, please visit here
The Morningstar Medalist Rating is the summary expression of Morningstar’s forward-looking analysis of investment strategies as offered via specific vehicles using a rating scale of Gold, Silver, Bronze, Neutral, and Negative. The Medalist Ratings indicate which investments Morningstar believes are likely to outperform a relevant index or peer group average on a risk-adjusted basis over time. Investment products are evaluated on three key pillars (People, Parent, and Process) which, when coupled with a fee assessment, forms the basis for Morningstar’s conviction in those products’ investment merits and determines the Medalist Rating they’re assigned. Pillar ratings take the form of Low, Below Average, Average, Above Average, and High. Pillars may be evaluated via an analyst’s qualitative assessment (either directly to a vehicle the analyst covers or indirectly when the pillar ratings of a covered vehicle are mapped to a related uncovered vehicle) or using algorithmic techniques. Vehicles are sorted by their expected performance into rating groups defined by their Morningstar Category and their active or passive status. When analysts directly cover a vehicle, they assign the three pillar ratings based on their qualitative assessment, subject to the oversight of the Analyst Rating Committee, and monitor and reevaluate them at least every 14 months. When the vehicles are covered either indirectly by analysts or by algorithm, the ratings are assigned monthly. For more detailed information about these ratings, including their methodology, please go to here
The Morningstar Medalist Ratings are not statements of fact, nor are they credit or risk ratings. The Morningstar Medalist Rating (i) should not be used as the sole basis in evaluating an investment product, (ii) involves unknown risks and uncertainties which may cause expectations not to occur or to differ significantly from what was expected, (iii) are not guaranteed to be based on complete or accurate assumptions or models when determined algorithmically, (iv) involve the risk that the return target will not be met due to such things as unforeseen changes in changes in management, technology, economic development, interest rate development, operating and/or material costs, competitive pressure, supervisory law, exchange rate, tax rates, exchange rate changes, and/or changes in political and social conditions, and (v) should not be considered an offer or solicitation to buy or sell the investment product. A change in the fundamental factors underlying the Morningstar Medalist Rating can mean that the rating is subsequently no longer accurate.
For information on the historical Morningstar Medalist Rating for any managed investment Morningstar covers, please contact your local Morningstar office.
For more detailed information about conflicts of interest, including EU MAR disclosures, please see the “Morningstar Medalist Rating Analyst Conflict of Interest & Other Disclosures for EMEA”here
FAQs
The JPMorgan Government Bond Index-Emerging Markets (GBI-EM) indices are comprehensive emerging market debt benchmarks that track local currency bonds issued by Emerging market governments. The index was launched in June 2005 and is the first comprehensive global local Emerging Markets index.
What countries are in Embi? ›
An emerging market describes a developing country or economy that is progressing toward becoming more advanced by rapidly industrializing and adopting free-market economies. The largest emerging markets include Nigeria, China, India, Brazil, South Africa, Poland, Mexico, Turkey, Argentina, Russia, etc.
What is the GBI EM Global Index? ›
The GBI-EM consists of regularly traded, fixed-rate, domestic currency government bonds which international investors can readily access. The index excludes countries where local market investing is subject to explicit capital controls, but eligibility consideration does not factor in regulatory/tax hurdles.
What is the JP Morgan EMBI Index? ›
The JPMorgan Emerging Market Bond Index (EMBI) are a set of three bond indices to track bonds in emerging markets operated by J P Morgan. The indices are the Emerging Markets Bond Index Plus, the Emerging Markets Bond Index Global and the Emerging Markets Bond Global Diversified Index.
What is the safest government bond to invest in? ›
Treasuries are generally considered"risk-free" since the federal government guarantees them and has never (yet) defaulted. These government bonds are often best for investors seeking a safe haven for their money, particularly during volatile market periods. They offer high liquidity due to an active secondary market.
What are the safest US government bonds? ›
Treasury bonds are often considered the bedrock of conservative investment portfolios. These are U.S. government bonds that offer a unique combination of safety and steady income.
What is the difference between EMBI and EMBI+? ›
J.P. Morgan EMBI+ Index
The regular EMBI index differs from EMBI+ due to USD denominated Brady Bonds, Eurobonds, and loans. Financial instruments within EMBI+ are required to meet the strict criteria for secondary-market trading liquidity and must possess a minimum face value of $500 million.
What is the difference between EMBI and GBI EM? ›
The JPM EMBI Global Diversified Index tracks U.S.-dollar-denominated debt and displays returns in dollars, while the JPM GBI-EM Global Diversified Index tracks local-currency debt, with one version displaying return in dollars and one in local currencies.
Who created Brady Bonds? ›
In 1989, the Brady plan, named after then-U.S. Treasury Secretary Nicholas Brady, was announced to restructure much of the debt of developing countries that was not being fully serviced due to economic constraints.
What is the JPM EM Global Diversified index? ›
The index is an unmanaged, market-capitalization weighted, total-return index tracking the traded market for U.S.-dollar-denominated Brady bonds, Eurobonds, traded loans, and local market debt instruments issued by sovereign and quasi-sovereign entities.
Rates & FX
The Emerging Local Markets Index Plus (ELMI+) tracks total returns for local currency denominated money market instruments in emerging market countries. The J.P. Morgan Cash Index serves as a reliable performance benchmark for a fund's cash component and are offered in multiple tenors.
What is the J.P. Morgan emerging market currency index EMCI? ›
J.P. Morgan Emerging Market Currency Index (FXJPEM/EMCI) is a fixed weight tradable version of the Emerging Local Market Index (ELMI+ index), tracking 10 liquid currencies across Latin America, Asia and Central & Eastern Europe, Middle East, Africa (CEEMEA) vs.
What is the outlook for JP Morgan emerging market debt? ›
Resilient EM growth outlook remains intact
We expect EM growth to be around 4% in 2024, supported by stability in Asia and an expected recovery in Latin America in the second half of the year. We have revised our US growth forecasts upwards and expect sub-trend growth in Europe, with a gradual stabilisation.
Is JPMorgan stock undervalued? ›
The intrinsic value of one JPM stock under the Base Case scenario is 210.57 USD. Compared to the current market price of 198.77 USD, JPMorgan Chase & Co is Undervalued by 6%.
Does JP Morgan have a S&P 500 index Fund? ›
About OGEAX
The fund invests in stocks included in the S&P 500 Index and also may invest in stock index futures.
Is there an index for the bond market? ›
The index is part of the S&P AggregateTM Bond Index family and includes U.S. treasuries, quasi-governments, corporates, taxable municipal bonds, foreign agency, supranational, federal agency, and non-U.S. debentures, covered bonds, and residential mortgage pass-throughs.
What are the three major bond indexes? ›
The three broad-based U.S. bond market indexes most commonly used by institutional investors are the Lehman Brothers U.S. Aggregate Bond Index, the Salomon Smith Barney (SSB) Broad Investment-Grade Bond Index (BIG), and the Merrill Lynch Domestic Market Index.
Does JP Morgan have index funds? ›
JPMorgan Equity Index Fund-A | OGEAX | J.P. Morgan Asset Management.
What is the symbol for JP Morgan US Government Money market fund? ›
OGVXX | JPMorgan US Government Money Market Fund;Capital Overview | MarketWatch.
