Morningstar CEF Ratings: Good Inverse Share Price Performance Predictor

Joe Eqcome submits:

Conclusion: Morningstar CEF ratings system (“The Morningstar Rating™ for Funds” or “star rating”) continues to be a good inverse predictor of CEF share price performance over a short period of time (12 to 18 months). Investors should not use the CEF “star rating” system (“1”: least favorable; “5”: most favorable) as a guide for picking stocks in the CEF universe as that is not its purpose.

In fact, investors would be better off picking the lowest Morningstar CEF “star rating” (Rating “1”) as it has consistently generated better share price performance than the higher ratings (“2” through “5”) for a 14 to 16 month period.

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