Through the module, Morningstar Principia Exchange-Traded Funds (ETFs), financial advisers can screen, sort, and rank the ETF universe based on approximately 200 fields and make comparisons to more than 360 benchmarks, according to a Morningstar press release.
Morningstar said the new module can compare against peers as well as other types of funds. When used with other Principia investment modules, the ETF module allows advisers to compare ETFs with open- and closed-ended mutual funds and separately managed accounts.
The Investment Comparison Report generates a comparison of up to four managed products while displaying historical performance, style and sector drift, and risk/return analysis, according to the release. The Find Similar Security feature identifies ETFs that can be considered good substitutes for a specific investment of another type, taking into account portfolio holdings, performance, tax implications, management fees, and trading costs.
More information is available at global.morningstar.com/Principia.