SPY, GLD Among Inaugural Morningstar ETF Award Winners
Morningstar (NASDAQ:MORN), the research firm known for its star-based mutual-fund rankings, is now handing trophies out in the exchange-traded fund world.
Today, the company announced its new Morningstar Awards, awarded based on a quantitative process that measures aspects like index-tracking ability, expenses and trading costs. The company looked at 37 different categories, and issued both retail and institutional awards to reflect the differences between investor needs. It also issued awards to providers based on how many category award winners they produced.
Vanguard won Provider Awards for both Sector Stock and U.S. Stock categories, while BlackRock‘s (NYSE:BLK) iShares division won for International Stock and Taxable Bond classes. iPath ETNs took the Commodities award.
Category winners included some of the industry’s biggies. Among the honorees: