Jason Zweig

speaker

906 appearances 17 recordings 1 series first heard Jan 2018 last heard Sep 2022

Jason Zweig’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · Mutual Funds Offer New Investors Convenience, With a Cost · 28 Apr 2021 podcast

And that's the trade that you make if you move from an active fund to a passive one. voice-verified

So probably the best known mutual fund rating service is Morningstar, which is an investment firm based in Chicago. voice-verified

And those ratings are built on principle of risk-adjusted performance. voice-verified

So they're giving the best ratings possible. voice-verified

to the funds that have the highest return in proportion to the amount of risk they took relative to a safe alternative like, say, a short-term treasury bill or cash. voice-verified

And the more the fund tends to fluctuate over time, the lower the star rating it will have. voice-verified

And those ratings go from one star at the bottom to five stars at the top. voice-verified

The most important thing to realize about these fund ratings is that they don't seem to have a lot of predictive power. voice-verified

They have some. voice-verified

Particularly funds with low, very low ratings, like a one star and sometimes a two star fund, will tend to stay that way. voice-verified

But the five star funds, which should be the best, seem to have a hard time hanging on to the top rating. voice-verified

So I think it's a good idea to avoid the really low rated funds, but it isn't clear that it's a good idea to buy the highest rated ones. voice-verified

Yeah, exactly. voice-verified

So you can buy a mutual fund the same way you can invest in any other financial asset. voice-verified

You could go to the website of the mutual fund company itself. voice-verified

You know, it might be a firm like Fidelity or Vanguard or Schwab or T. Rowe Price. voice-verified

You can also find a mutual fund on any brokerage platform, whether it's online or online. voice-verified

through an app on your phone. voice-verified

Now, not all brokerage firms sell mutual funds. voice-verified

Robinhood, for example, does not yet offer mutual funds, although it does offer ETFs. voice-verified

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