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529 plans appeal to investors by offering federal, and in some instances state, tax benefits. Whether the cumulative tax benefits of individual plans make one more attractive than another depends on an investor s circumstances.
A federal tax exemption on the growth and distribution of withdrawals that cover a beneficiaries qualified education costs encourage saving for college. The potential tax-advantaged savings don t always stop there. Since college savers have no obligation to invest in their own state s plan, some states choose to entice residents to pick their home state s plan over other options by offering an additional state income-tax benefit. Whether that state income-tax benefit results in enough cost savings to merit staying in-state varies across the more than 80 plans available nationwide, and investors should to take a closer look at the possibilities.
Morningstar updated the Analyst Ratings for 851 fund share classes, exchange-traded funds, and separately managed accounts/collective investment trusts in April 2021. Of these, 595 maintained their previous rating, 70 were downgrades, 56 were upgrades, 117 were new to coverage, and 13 were put under review because of material changes, such as manager departures.
Sifting out multiple share classes and vehicles, Morningstar rated 203 unique strategies in April. Of these, six received an Analyst Rating for the first time, with the rest having at least one investment vehicle type that a Morningstar analyst previously covered. Below are some highlights of the upgrades, downgrades, and funds new to coverage.
The following is our latest Fund Analyst Report for Vanguard Dividend Appreciation Index (VDADX)
. Morningstar Premium Members have access to full analyst reports such as this for more than 1,000 of the largest and best mutual funds. Not a Premium Member? Gain full access to our analyst reports and advanced tools immediately when you try Morningstar Premium free for 14 days.
Vanguard Dividend Appreciation Index focuses on quality franchises that have reliably increased the amount of cash they give back to shareholders over time. Its stringent selection criteria yield a portfolio that balances income, capital appreciation, and risk. Its low fee gives it a durable edge versus its large-blend Morningstar Category peers and a low hurdle to clear toward beating its category index. Under our enhanced rating methodology, which places greater emphasis on fees, both U.S. share classes of the fund earned a Morningstar Analyst Rating upgrade to Gold from Silver, while the Canadian share class