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Assignment 1: Stock Investment Analysis
Due Week 5 and worth 210 points
Review the investment information for the Fidelity Large Cap Stock Fund (FLCSX) at
http://fundresearch.fidelity.com/mutual-funds/summary/315912402
.
Write a four to five (4-5) page paper in which you:
- Assess the year-to-date performance of the FLCSX fund, including the key drivers of the fund performance, and how the performance of the fund compares to the S&P 500.
- Evaluate the volatility risks in the fund, providing an assessment of the fund manager’s performance based on the risk measurements for the fund. Make a recommendation to the fund manager for improving the performance. Provide a rationale for your recommendation.
- Compare your assessment of the fund performance to the Morningstar rating for the fund, indicating your agreement or disagreement with the rating. Provide support for your position.
- Assess the top ten (10) holdings in the fund, indicating the level of diversification in the fund. Identify a company that may impose increased risk and any changes that you would recommend in the fund composition to improve the fund performance. Provide support for your rationale.
- Use at least three (3) quality academic resources in this assignment. Note: Wikipedia and other Websites do not qualify as academic resources.
Your assignment must follow these formatting requirements:
- This course requires use of new Strayer Writing Standards (SWS). The format is different than other Strayer University courses. Please take a moment to review the SWS documentation for details.
- Be typed, double-spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow SWS or school-specific format. Check with your professor for any additional instructions.
- Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.
The specific course learning outcomes associated with this assignment are:
- Analyze stock prices and valuations.
- Use technology and information resources to research issues in financial risk analysis.
- Write clearly and concisely about financial risk analysis using proper writing mechanics.
Click
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to view the grading rubric.
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Home»
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Mutual Funds»
Fidelity® Large Cap Stock Fund
Fidelity® Large Cap Stock Fund
FLCSX
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Monthly Fact Sheet (PDF)
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Morningstar® Snapshot*
AS OF 1/31/2020; Morningstar Category:
Large Blend
*Data provided by Morningstar
4
>
Overall Rating
Overall Rating
Rating Information
Overall Rating
Morningstar has awarded this fund 3 stars based on its risk-adjusted performance compared to the 1208 funds within its Morningstar Category.
3 out of 5 Stars
How is it determined?
The Overall Morningstar RatingTM for a fund is derived from a weighted average of the performance figures associated with its 3-, 5-, and 10-year (if applicable) Morningstar Rating metrics, which are based on risk-adjusted returns, as of the date stated.
3 Yrs
Out of 1,208 funds
5 Yrs
Out of 1,056 funds
10 Yrs
Out of 806 funds
What does it mean?
A fund’s Morningstar Rating is a quantitative assessment of a fund’s past performance that accounts for both risk and return, with funds earning between 1 and 5 stars. As always, this rating system is designed to be used as a first step in the fund evaluation process. A high rating alone is not sufficient basis upon which to make an investment decision.
Returns
Returns
Low
AVG
High
Returns
This fund scores Below Average because it delivered returns that were in the bottom 22.5% when compared to other funds within its Morningstar category.
LOW
AVG
HIGH
How is it calculated?
This rating is based on a fund’s Morningstar Return (its annualized return in excess to the return of the 90-day U.S. Treasury bill over a three-, five-, or ten-year period). The Morningstar Returns in each category are then scored against each other on a bell curve. In each Morningstar Category:
– top 10% – High
– next 22.5% – Above Average
– middle 35% – Average
– next 22.5% – Below Average
– bottom 10% – Low
What does it mean?
While past performance is no guarantee of future results, the Morningstar Return shows how the fund has done in the past in comparison to similar funds in its peer group. It does not, however, show the effects of risk.
Therefore, the Morningstar Return is most helpful when used in conjunction with the Morningstar Risk Score. For example, an investor could use these two scores when comparing between funds that have the same Morningstar Star Rating and similar Morningstar Risk Adjusted Returns but different levels of risk.
Expenses
Expenses
LowAVGHigh
Expenses
This fund’s expenses are rated as Below Average because they fall between the 20th and 40th percentiles when compared with other funds in the category
LOW
AVG
HIGH
How is it calculated?
This Morningstar data point compares the fund’s net expense ratio to the net expense ratio of all the other funds within its Morningstar Category grouping.
What does it mean?
Excessive expenses can detract from overall returns and can be a drain on performance. While you should not base any investment decision entirely on expenses or expense ratios, a fund’s expense structure may be one factor to consider.
Risk of this Category
Risk of this Category
LOWERHIGHER
Risk of this Type of Fund
Morningstar assigns a risk level to each of its mutual fund categories. These risk levels range from 1 for those funds with least amount of risk to 10 for those with the greatest amount of risk.
LOWER
HIGHER
How is it calculated?
Morningstar calculates these risk levels by looking at the Morningstar Risk of the funds in the Category over the previous 5-year period. Morningstar Risk is the difference between the Morningstar Return, based on fund total returns, and the Morningstar Risk Adjusted Return, based on fund total returns adjusted for performance volatility. The Category Risk Level is based on the equal weighted average Morningstar Risk of the funds in the category. Morningstar’s Research Committee evaluates the Category Morningstar Risk and assigns the Category Risk Level after further qualitative judgment.
What does it mean?
This score can help you understand the risk involved with a particular Morningstar category of funds, which may be helpful in evaluating the risk associated with a specific investment. The Category Risk Level is based on the equal weighted average performance of the funds in the category. It does not reflect the risk associated with any individual fund or the relative risk of a fund within a particular Morningstar category. Because the score is based on past performance, it may not reflect the future risk of the category. In addition to risk, you should evaluate a fund’s investment objective, strategy, fees and other characteristics before making your investment decision.
Learn more
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Category Risk Learn More
Morningstar assigns Category Risk Level to each group of mutual funds that invest in the same types of assets. These scores range from 1, for funds with the least amount of relative risk, to 10, for funds with the greatest amount. In determining the Category Risk Level, the scores based on the Morningstar Risk are reviewed by Morningstar’s Research Committee. The Committee reviews the preliminary output, and makes changes where necessary, to ensure that the final scores are logically consistent and are updated to reflect current market conditions.
How Morningstar Calculates Category Risk Scores: The first step is to determine the average Morningstar Risk for each category over the previous five years. Morningstar Risk is the difference between the Morningstar Return (excess total return over the risk free rate, adjusted for loads) and the Morningstar Risk Adjusted Return (excess total return over the risk free rate, adjusted for loads and risk). Risk is measured by the variations in a fund’s monthly total returns during the period, with greater risk leading to a lower risk-adjusted return. The Morningstar Return and Morningstar Risk Adjusted Returns for each Category are found using equal weighted average of the total returns of all the funds in the category for a certain time period.
The category’s Morningstar Risk is then used as the starting point for the Category Risk Level assignments. Assignments can be modified in one of two ways. One method of modification is by logic. For instance, if one municipal bond category falls just across the dividing line from another municipal bond category, even though both invest in very similar types of assets, both categories are adjusted so that they are given the same risk assignment. They may also be adjusted by judgment. One example of this would be Long-Short Market Neutral stock funds. Although these funds tend to show very low risk scores based solely on the variations in their returns, the complexity of their strategies suggests that they should receive a higher risk score than the raw data indicates. In this case, the Category Risk score is adjusted accordingly.
Morningstar Category: Large Blend*Data provided by Morningstar
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Performance
2
Performance
1,
3,
5, 10 Year/Life values are Average Annual Total returns. Life of Fund figures are reported as of the inception date of the fund or share class. YTD (Daily) value is cumulative total returns from either the beginning of the calendar year or the inception of the fund, if the fund incepted after the beginning of the current year.
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AS OF 1/31/2020
*AS OF 2/7/2020; Value is cumulative
YTD (Daily)*
+0.45%
*AS OF 2/7/2020
Average Annual Returns
1 Yr
+17.24%
3 Yrs
+10.66%
5 Yrs
+10.23%
10 Yrs
+13.16%
*AS OF 2/7/2020; Value is cumulative
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Summary
-
Performance & Risk
-
Ratings
-
Composition
-
Fees & Distributions
-
Commentary
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Summary
Performance & Risk
Ratings
Composition
Fees & Distributions
Quarterly Fund Review
Portfolio Manager Q&A
Chairman’s Message
Investment Approach
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Details
Details
These are high-level facts about a fund that an investor can use to help evaluate an investment option, including total net assets of a fund, expense ratio, and the current net asset value of the fund.
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Morningstar Category
Large Blend
Fund Inception
6/22/1995
Exp Ratio (Gross)
0.63%6/29/2019
Exp Ratio (Gross)
Expense ratio is a measure of what it costs to operate an investment, expressed as a percentage of its assets, as a dollar amount, or in basis points. These are costs the investor pays through a reduction in the investment’s rate of return. For a mutual fund, the gross expense ratio is the total annual fund or class operating expenses directly paid by the fund from the fund’s most recent prospectus (before waivers or reimbursements). This ratio also includes Acquired Fund Fees and Expenses, which are expenses indirectly incurred by a fund through its ownership of shares in other investment companies. If the investment option is not a mutual fund, the expense ratio may be calculated using methodologies that differ from those used for mutual funds.
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Exp Ratio (Net)
0.63%6/29/2019
Exp Ratio (Net)
Expense ratio is a measure of what it costs to operate an investment, expressed as a percentage of its assets, as a dollar amount, or in basis points. These are costs the investor pays through a reduction in the investment’s rate of return. For a mutual fund, the net expense ratio is the total annual fund or class operating expenses directly paid by the fund from the fund’s most recent prospectus, after any fee waiver and/or expense reimbursements that will reduce any fund operating expenses. This ratio also includes Acquired Fund Fees and Expenses, which are expenses indirectly incurred by a fund through its ownership of shares in other investment companies. This number does not include any fee waiver arrangement or expense reimbursement that may be terminated without agreement of the fund’s board of trustees during the one-year period. If the investment option is not a mutual fund, the expense ratio may be calculated using methodologies that differ from those used for mutual funds.
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NAV
$33.702/7/2020
NAV
The dollar value of one mutual fund’s share, excluding any sales charges or redemption fees. The NAV is calculated by subtracting liabilities from the value of a fund’s total assets and dividing it by the number of fund’s shares outstanding.
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Minimum to Invest
$0.00
Turnover Rate
31%10/31/2019
Turnover Rate
The lesser of amounts of purchases or sales of long-term portfolio securities divided by the monthly average value of long-term securities owned by the fund.
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Portfolio Net Assets ($M)
$2,527.041/31/2020
Portfolio Net Assets ($M)
The difference between a portfolio’s total assets and liabilities, including all share classes of the fund.
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12 Month Low-High
$29.22 – $34.421/31/2020
Hypothetical Growth of
$10,000
3,
4
Hypothetical Growth of $10,000
This data point, usually shown as a graph, shows how the value of a hypothetical investment of $10,000 in a fund would have changed over time. It can also be used to compare the fund’s historical performance against a benchmark or Morningstar Category average. This measurement does not include fees, although it assumes the reinvestment of all dividend and capital gains distributions.
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Insufficient data. Either the fund is too new, or
return data of correct frequency is not
available.
AS OF 01/31/2020; Morningstar Category: Large Blend
01/31/2020:
FLCSX:$34,432
S&P 500
S&P 500
S&P 500 Index is a market capitalization-weighted index of 500 common stocks chosen for market size, liquidity, and industry group representation to represent U.S. equity performance.
:$36,982
Large Blend:$30,530
10K
15K
20K
25K
30K
35K
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
YTD1Y3Y5Y10Y
Frequency:
Monthly
Compare Chart
|
Fund Facts Search
The performance data featured represents past performance, which is no guarantee of future results. Investment return and principal value of an investment will fluctuate; therefore, you may have a gain or loss when you sell your shares. Current performance may be higher or lower than the performance data quoted.
Top 10
Holdings
5
Top 10 Holdings
Top company holdings of the fund exclude money market instruments and futures contracts. They are arranged by weighting from largest to smallest positions on the dates shown. The top company holdings may not be representative of the fund’s current or future investments and may change at any time. Depository receipts are normally combined with the underlying security. Holdings will be updated according to the investment policy of the fund company. For Fidelity funds, holdings are updated on a calendar quarterly basis.
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AS OF 12/31/2019
36.57% of Total Portfolio
GE
GENERAL ELECTRIC CO
MSFT
MICROSOFT CORP
XOM
EXXON
MO
BIL CORP
CMCSA
COMCAST CORP CL A
MO
ALTRIA GROUP INC
BAC
BANK OF AMERICA CORPORATION
WFC
WELLS FARGO & CO
BMY
BRISTOL-MYERS SQUIBB CO
AAPL
APPLE INC
QCOM
QUALCOMM INC
150 holdings as of 12/31/2019
|
147 issuers as of 12/31/2019
View all Holdings (PDF)
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Morningstar Category: Large Blend
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Fund
Manager(s)
Fund Manager(s)
The person or the management company with management responsibility for the fund and its investments.
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Back
Matt Fruhan
Manager Tenure: since 5/2/2005
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Education
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MBA, Harvard University – Harvard Business School, 1999
-
BA, Harvard University, 1995
Commentary
Quarterly Fund Review
Portfolio Manager Q&A
Chairman’s Message
Investment Approach
Fund Overview
Objective
Seeks long-term growth of capital.
Strategy
Normally investing at least 80% of assets in common stocks of companies with large market capitalizations (companies with market capitalizations similar to companies in the Russell 1000 Index or the S&P 500). Investing in either “growth” stocks or “value” stocks or both.
Risk
Stock markets, especially foreign markets, are volatile and can decline significantly in response to adverse issuer, political, regulatory, market, or economic developments. Foreign securities are subject to interest rate, currency exchange rate, economic, and political risks
Additional Disclosures
This description is only intended to provide a brief overview of the mutual fund. Read the fund’s prospectus for more detailed information about the fund.
The S&P 500® Index is a registered service mark of The McGraw-Hill Companies, Inc., and has been licensed for use by Fidelity Distributors Company LLC and its affiliates. It is an unmanaged index of the common stock prices of 500 widely held U.S. stocks that includes the reinvestment of dividends.
The Russell 1000® Index is an unmanaged market capitalization-weighted index measuring the performance of the 1,000 largest companies in the Russell 3000® Index and is an appropriate index for broad-based large-cap funds.
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Quarter-End Average Annual Total
Returns
2,
3
Quarter-End Average Annual Total Returns
Quarter-end Average annual total return is a rate of return on a quarterly basis that, if achieved annually, would have produced the same cumulative total return if performance had been constant over the entire period. Average annual total returns smooth out variation in performance; they are not the same as actual year-by-year results.
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AS OF 12/31/2019
; Fund Inception 6/22/1995
Expense Ratio (Gross)
: 0.63%
AS OF 6/29/2019
Expense Ratio (Gross)
Expense ratio is a measure of what it costs to operate an investment, expressed as a percentage of its assets, as a dollar amount, or in basis points. These are costs the investor pays through a reduction in the investment’s rate of return. For a mutual fund, the gross expense ratio is the total annual fund or class operating expenses directly paid by the fund from the fund’s most recent prospectus (before waivers or reimbursements). This ratio also includes Acquired Fund Fees and Expenses, which are expenses indirectly incurred by a fund through its ownership of shares in other investment companies. If the investment option is not a mutual fund, the expense ratio may be calculated using methodologies that differ from those used for mutual funds.
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1 Yr
3 Yrs
5 Yrs
10 Yrs
Life
Before Taxes
Before Taxes
Return before taxes is a measure of a fund’s performance over a given time frame before accounting for the effect of taxes. Dividends generated by, and distributions made on, an investment, as well as gain or losses recognized upon sale of an investment, may be taxable. Taxes may reduce the value of the dividend, distribution or sale proceeds in the hands of the investor. As each investor’s tax situation may differ, return before taxes provide a valuable benchmark against which an investor can easily compare the return before taxes of other investments without regard to tax consequences. Unless otherwise noted, returns are adjusted for all applicable recurring and non-recurring fees (including redemption fees), loads and charges, if any.
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Fidelity® Large Cap Stock Fund
31.55%
12.19%
9.80%
13.14%
8.85%
S&P 500
S&P 500
S&P 500 Index is a market capitalization-weighted index of 500 common stocks chosen for market size, liquidity, and industry group representation to represent U.S. equity performance.
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31.49%
15.27%
11.70%
13.56%
9.54%
Large Blend
28.78%
13.26%
9.78%
12.03%
—
After Taxes on Distributions
After Taxes on Distributions
Return After Taxes on Distributions are calculated using the historical maximum federal individual marginal income tax rates associated with fund distributions and assume that an investor continued to hold the shares. Therefore, they do not reflect the federal income tax impact of gains or losses recognized when fund’s shares are sold. These returns do not reflect the impact of state and local taxes. Unless otherwise noted, returns are adjusted for all applicable recurring and non-recurring fees (including redemption fees), loads and charges, if any. Actual after-tax returns depend on your tax situation and are not relevant if you hold shares through tax-deferred arrangements such as IRAs or 401(k) plans.
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Fidelity® Large Cap Stock Fund
29.82%
10.35%
8.28%
12.01%
7.84%
Large Blend
26.68%
11.23%
7.95%
10.51%
—
After taxes on distributions and sale of fund shares
After taxes on distributions and sale of fund shares
Return After Taxes on Distributions and Sale of Fund Shares are calculated using the historical maximum federal individual marginal income tax rates associated with fund distributions and also reflect the federal income tax impact of gains or losses recognized when fund’s shares are sold at the end of the specified period. These returns may exceed before-tax return as a result of an imputed tax benefit received upon realization of tax losses and do not reflect the impact of state and local taxes. Unless otherwise noted, returns are adjusted for all applicable recurring and non-recurring fees (including redemption fees), loads and charges, if any. Actual after-tax returns depend on your tax situation and are not relevant if you hold shares through tax-deferred arrangements such as IRAs or 401(k) plans.
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Fidelity® Large Cap Stock Fund
19.77%
9.29%
7.51%
10.78%
7.26%
Large Blend
18.43%
10.07%
7.34%
9.68%
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Additional Important Information
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© 2019 Morningstar, Inc. All rights reserved. The Morningstar information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or redistributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Fidelity does not review the Morningstar data and, for fund performance, you should check the fund’s current prospectus or other product materials for the most up-to-date information concerning applicable loads, fees and expenses.
1.No Transaction Fee Fidelity funds are available without paying a trading fee to Fidelity or a sales load to the fund. However, the fund may charge a short-term trading or redemption fee to protect the interests of long-term shareholders of the fund. Shares are subject to the fund’s management and operating expenses. See Expenses & Fees for more information.
2.Total returns are historical and may include change in share value and reinvestment of dividends and capital gains, if any. Cumulative total returns are reported as of the period indicated. Life of fund figures are reported as of the commencement date to the period indicated and are cumulative if the fund is less than one year old. Total returns do not reflect the fund’s [%] sales charge. If sales charges were included, total returns would have been lower.
3.The Morningstar Category Average is the average return for the peer group based on the returns of each individual fund within the group, for the period shown. This average assumes reinvestment of dividends.
4.This chart illustrates the performance of a hypothetical $10,000 investment made in this investment product (and a benchmark or category average, if shown) from the beginning date shown or on the inception date of the product (whichever is later). The inception date used for products with underlying funds, or multiple shares classes, or are offered as a separate account, strategy or sub account, may be the inception date of the underlying fund, the earliest share class of the product, or the date composite performance for the product was first made available. The product’s returns may not reflect all its expenses. Any fees not reflected would lower the returns. Benchmark returns include reinvestment of capital gains and dividends, if any, but do not reflect any fees or expenses. It is not possible to invest in an index. Past performance is no guarantee of future results. This chart is not intended to imply any future performance of the investment product.
5.Any holdings, asset allocation, diversification breakdowns or other composition data shown are as of the date indicated and are subject to change at any time. They may not be representative of the fund’s current or future investments. The Top Ten Holdings and Top 5 Issuers do not include money market instruments or futures contracts, if any. Depository receipts are normally combined with the underlying security. Some breakdowns may be intentionally limited to a particular asset class or other subset of the fund’s entire portfolio, particularly in multi-asset class funds where the attributes of the equity and fixed income portions are different.
Under the asset allocation section, international (or foreign) assets may be reported differently depending on how an investment option reports its holdings. Some do not report international (or foreign) holdings here, but instead report them in a “Regional Diversification” section. Some report them in this section in addition to the equity, bond and other allocation shown. Others report international (or foreign) holding as a subset of the equity and bond allocations shown. If the allocation without the foreign component equals (or rounds to) 100%, then international (or foreign) is a subset of the equity and bond percentage shown.
Any remaining country allocations comprising less than one percent of the portfolio are combined in the OTHER category.
Generally, data on Fidelity mutual funds is provided by FMR, LLC, Morningstar ratings and data on non-Fidelity mutual funds is provided by Morningstar, Inc. and data on non-mutual fund products is provided by the product’s investment manager, trustee or issuer or the plan sponsor whose plan is offering the product to participants. Although Fidelity believes the data gathered from these third-party sources is reliable, it does not review such information and cannot warrant it to be accurate, complete or timely. Fidelity is not responsible for any damages or losses arising from any use of this third-party information.
Before investing, consider the investment objectives, risks, charges and expenses of the fund or annuity and its investment options. Contact Fidelity for a free prospectus and, if available, summary prospectus containing this information. Read it carefully.
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Grading for this assignment will be based on answer quality, logic/organization of the paper, and language and writing skills, using the following rubric.
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Points: 210
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Assignment 1: Stock Investment Analysis
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Criteria
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Unacceptable
Below 60% F
Meets Minimum Expectations
60-69% D
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Fair
70-79% C
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Proficient
80-89% B
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Exemplary
90-100% A
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1. Assess the year-to-date performance of the FLCSX fund including the key drivers of the fund performance, and how the performance of the fund compares to the S&P500.
Weight: 15%
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Did not submit or incompletely assessed the year-to-date performance of the FLCSX fund, including the key drivers of the fund performance, and how the performance of the fund compares to the S&P500.
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Insufficiently assessed the year-to-date performance of the FLCSX fund, including the key drivers of the fund performance, and how the performance of the fund compares to the S&P500.
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Partially assessed the year-to-date performance of the FLCSX fund, including the key drivers of the fund performance, and how the performance of the fund compares to the S&P500.
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Satisfactorily assessed the year-to-date performance of the FLCSX fund, including the key drivers of the fund performance, and how the performance of the fund compares to the S&P500.
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Thoroughly assessed the year-to-date performance of the FLCSX fund, including the key drivers of the fund performance, and how the performance of the fund compares to the S&P500.
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2. Evaluate the volatility risks in the fund, providing an assessment of the fund manager’s performance based on the risk measurements for the fund. Make a recommendation to the fund manager for improving the performance. Provide a rationale for your recommendation.
Weight: 25%
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Did not submit or incompletely evaluated the volatility risks in the fund, providing an assessment of the fund manager’s performance based on the risk measurements for the fund; did not submit or incompletely made a recommendation to the fund manager for improving the performance; did not submit or incompletely provided a rationale for your recommendation.
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Insufficiently evaluated the volatility risks in the fund, providing an assessment of the fund manager’s performance based on the risk measurements for the fund; insufficiently made a recommendation to the fund manager for improving the performance; insufficiently provided a rationale for your recommendation.
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Partially evaluated the volatility risks in the fund, providing an assessment of the fund manager’s performance based on the risk measurements for the fund; partially made a recommendation to the fund manager for improving the performance; partially provided a rationale for your recommendation.
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Satisfactorily evaluated the volatility risks in the fund, providing an assessment of the fund manager’s performance based on the risk measurements for the fund; satisfactorily made a recommendation to the fund manager for improving the performance; Satisfactorily provided a rationale for your recommendation.
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Thoroughly evaluated the volatility risks in the fund, providing an assessment of the fund manager’s performance based on the risk measurements for the fund; thoroughly made a recommendation to the fund manager for improving the performance; thoroughly provided a rationale for your recommendation.
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3. Compare your assessment of the fund performance to the Morningstar rating for the fund, indicating your agreement or disagreement with the rating. Provide support for your position.
Weight: 25%
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Did not submit or incompletely compared your assessment of the fund performance to the Morningstar rating for the fund, indicating your agreement or disagreement with the rating; did not submit or incompletely provided support for your position.
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Insufficiently compared your assessment of the fund performance to the Morningstar rating for the fund, indicating your agreement or disagreement with the rating; insufficiently provided support for your position.
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Partially compared your assessment of the fund performance to the Morningstar rating for the fund, indicating your agreement or disagreement with the rating; partially provided support for your position.
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Satisfactorily compared your assessment of the fund performance to the Morningstar rating for the fund, indicating your agreement or disagreement with the rating; satisfactorily provided support for your position.
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Thoroughly compared your assessment of the fund performance to the Morningstar rating for the fund, indicating your agreement or disagreement with the rating; thoroughly provided support for your position.
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4. Assess the top ten (10) holdings in the fund, indicating the level of diversification in the fund. Identify a company that may impose increased risk and any changes that you would recommend in the fund composition to improve the fund performance. Provide support for your rationale.
Weight: 20%
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Did not submit or incompletely assessed the top ten (10) holdings in the fund, indicating the level of diversification in the fund; did not submit or incompletely identified a company that may impose increased risk and any changes that you would recommend in the fund composition to improve the fund performance; did not submit or incompletely provided support for your rationale.
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Insufficiently assessed the top ten (10) holdings in the fund, indicating the level of diversification in the fund; insufficiently identified a company that may impose increased risk and any changes that you would recommend in the fund composition to improve the fund performance; insufficiently provided support for your rationale.
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Partially assessed the top ten (10) holdings in the fund, indicating the level of diversification in the fund; partially identified a company that may impose increased risk and any changes that you would recommend in the fund composition to improve the fund performance; partially provided support for your rationale.
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Satisfactorily assessed the top ten (10) holdings in the fund, indicating the level of diversification in the fund; satisfactorily identified a company that may impose increased risk and any changes that you would recommend in the fund composition to improve the fund performance; satisfactorily provided support for your rationale.
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Thoroughly assessed the top ten (10) holdings in the fund, indicating the level of diversification in the fund; thoroughly identified a company that may impose increased risk and any changes that you would recommend in the fund composition to improve the fund performance; thoroughly provided support for your rationale.
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6. Three (3) references
Weight: 5%
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No references provided
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Does not meet the required number of references; all references poor quality choices.
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Does not meet the required number of references; some references poor quality choices.
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Meets number of required references; all references high quality choices.
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Exceeds number of required references; all references high quality choices.
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7. Clarity, writing mechanics, and formatting requirements
Weight: 10%
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More than 8 errors present
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7-8 errors present
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5-6 errors present
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3-4 errors present
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0-2 errors present
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