Family - This is the set of funds with different investment objectives offered by one management company. In many cases, investors may move their assets from one fund to another within the family at little or no cost.
Net Assets(updated monthly) - This the total dollar value of the fund's holdings, including stocks, bonds, preferred stocks, convertible securities, and cash.
Morningstar Rating(updated daily) - The Morningstar Star Rating is a rank (1 star=worst 5 stars=best) which is based on a mathematical calculation that examines relative historical risk and return. Morningstar calculates ratings for the trailing three, five and 10-year periods. There are two elements of the star rating--a return component and a risk component. Morningstar Return is a measure of a fund's return relative to its star rating group, adjusted for sales charges. To determine a fund's three year Morningstar Risk, the fund's perfomance is examined for the past 36 months. Any months in which the portfolio's returns were less than those of the 90-day Treasury bill are flagged. Morningstar then adds up the amounts by which the fund trailed the T-bill return and divide by 36, to generate an average monthly underperformance. We do the same for the rating group as a whole, and divide the fund's underperformance by the group's underperformance to arrive at a Morningstar Risk score.
To assign ratings, Morningstar subtracts each fund's Morningstar Risk score from its Morningstar Return score. The funds in each rating group are then ranked by this raw number, from highest to lowest. The top 10% of funds receive 5 stars, the next 22.5% receive 4 stars, the middle 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. (There is no "zero" star rating--funds with less than 36 months of return data are simply not rated.)