Similar Funds, available free at Morningstar’s Web site helps locate another fund in the same investing style and with the same characteristics as the unavailable or undesirable one, Morningstar said.
The company said Similar Funds’ screening includes an analysis of the fund’s most recent portfolio and a review of the fund’s performance for the past three years. The program develops an overall similarity score on a one to ten scale with ten being the closest match.
Investors can ask for funds with a specific initial investment limit and restrict the search to only no-load options, Morningstar said.
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