Not just luck: my529 earns top Morningstar honor for 13th straight year (FAN Winter 2023)

Morningstar’s annual review of 529 plans named my529 as one of only two plans in 2024 to receive the Analyst Rating™ of Gold. That means Utah’s 529 plan has earned Morningstar’s top accolade for 13 consecutive years, an accomplishment unmatched by any other 529 plan in the industry.

It’s not just luck that my529 continues to attain Morningstar’s highest honor. The plan makes a concerted effort to provide high-quality underlying investments and a robust selection of investment options while keeping fees low.

Analysts assessed 54 plans for their fee structure, underlying investment quality and selection process, asset allocation methodology, and stewardship. Morningstar Research Services LLC is a leading provider of independent investment research.

View the report, released Nov. 2. Advisors with a Morningstar login can access the state analysis.

How do Gold-rated plans like my529 stand out from their peers?

  • Low fees.
  • Strong stewardship.
  • Excellent state oversight.
  • Asset allocation methodology.
  • Experienced investment team.

Morningstar analysts recognized my529’s Target Enrollment Date portfolios and Customized Age-Based option. They also commended the expertise of the plan’s investment team, advisors, consultants and board members. Analysts noted my529’s commitment to enhancing the 529 experience for account owners, beneficiaries and advisors—rather than simply maintaining the status quo.

During conversations with your clients, consider sharing the news. The award underscores my529’s consistency, innovation and standing within the 529 industry.

Important Legal Notice

my529 was rated “Gold” or its equivalent by Morningstar 2004-2007, 2009, and 2011-2023; rated “Silver” or its equivalent in 2008 and 2010. The Morningstar Analyst RatingTM for 529 college savings plans is not a credit or risk rating. To determine an analyst rating, Morningstar’s analysts consider four factors: the plan’s strategy and investment process (process); an assessment of the individuals managing the plan’s investment options (people); the stewardship practices of the plan’s administration and parent firm (together, parent); and whether the plan’s investment options are a good value proposition compared to its peers (price). Plans are then assigned forward-looking ratings of “Gold,” “Silver,” “Bronze,” “Neutral,” and “Negative.” The top three ratings (Gold, Silver, and Bronze) indicate that Morningstar’s analysts think highly of a 529 plan; the differences correspond to the level of analyst conviction in the ability of a plan’s investment options to collectively outperform their respective benchmarks and peers through time, within the context of the level of risk taken. Morningstar does not rate all 529s every year; it rated 54 plans in 2023.

Analyst ratings are subjective in nature and should not be used as the sole basis for investment decisions. Analyst ratings are based on Morningstar analysts’ current expectations about future events and therefore involve unknown risks and uncertainties that may cause Morningstar’s expectations not to occur or to differ significantly from what was expected. Morningstar does not represent its analyst ratings to be guarantees.

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Analysts noted my529’s commitment to enhancing the 529 experience for account owners, beneficiaries
and advisors.