Morningstar will apply its analyst ratings to exchange-traded funds globally and combine ETFs and open-end funds into the same peer group when calculating its quantitative, backward-looking ratings for funds. “Investors increasingly see open-end funds and ETFs as interchangeable options when choosing investments. By combining them into the same peer group, investors can more easily compare investments regardless of the product structure,” Ben Johnson, Morningstar’s director of global ETF research, said. Read the full release from Morningstar.