Do Morningstar Ratings predict risk-adjusted equity mutual fund performance? - The Skilled Investor's FUND AUTHORITY SCORES ... Do Morningstar Ratings predict risk-adjusted equity mutual fund performance? - The Skilled Investor's FUND AUTHORITY SCORES for Mutual Funds and ETFs > Mutual Fund Rating Services - Morningstar Star Ratings - Financial Articles, Morningstar Ratings have demonstrated some modest predictive information about performance. However, most individual investors will probably be very surprised about what kind of predictive information the stars provide. The stars have been a mild predictor of inferior performance. However, investors act as if the stars predict superior future performance, when in reality they seem to contain no such information. in Public bookmarkswith equityfundmorningstarmutualperformancepredictratingsrisk-adjusted