Morningstar DirectSM Release Notes December 14, 2018

Morningstar DirectSM December 14, 2018 1© 2018 Morningstar. All Rights Reserved.

Morningstar DirectSM Release Notes December 14, 2018

OverviewThis document describes the new features and enhancements in Morningstar DirectSM, as follows:

gHow can I identify which funds disclose their intention to include or exclude ESG impacts in their investment process? (page 2)

gWhat’s new in Morningstar indexes? (page 3)gHow can I access the Morningstar Collective Investment Trust Report? (page 4)gWhat Separate Account data points are now available in pre-built views? (page 7)gWhat Separate Account data points are new? (page 9)gWhat’s new in Japanese GICS sectors? (page 10)gWhat’s new in Japanese GICS industries? (page 10)gWhat’s new in SITCA categories? (page 12)gWhat’s new in the All Offshore Open-End Funds universe? (page 13)gWhat’s new in the Asset Flows module? (page 13)gAs a UK CEF client, how can I access Sector Focus data? (page 14)gWhat’s new in Danish funds and universes? (page 15)gWhat’s new in PPM data points? (page 16)gWhat’s new in the Morningstar Excel Add-In? (page 17)gWhat data points are new in the Fixed-Income Primary Sector? (page 17)gWhat data points are new in the UK CEF Peer Group? (page 20)gWhat historical data points are new in the UK and US CEF Peer Groups? (page 21)gWhat data points were retired from closed-end funds? (page 22)gWhat data points are new in closed-end funds? (page 22)gWhat new data points are available for GICS Communications Equipment?

(page 22)gHow can I access Sustainability Scores? (page 22)gHow can I identify which funds disclose their intention to include or exclude ESG

impacts in their investment process? (page 23)gWhat’s new in Strategic Beta data? (page 26)gHow can I save changes in a formula? (page 26)gWhat’s new in Equity Economic Sector data? (page 27)gWhat’s new in Separate Account and Strategy data? (page 27)gHow can I export the data points in a universe or group from the Data Dictionary?

(page 28)gHow can I export one or more data points from the Data Dictionary? (page 29)

http://morningstardirect.morningstar.com/clientcomm/ABC.pdf#page=11

Morningstar DirectSM Release Notes December 14, 2018How can I identify which funds disclose their intention to include or

exclude ESG impacts in their investment process?


How can I identify which funds disclose their intention to include or exclude ESG impacts in their investment process?

New data points are available to reveal a fund’s intention to incorporate specific areas of ESG impact, and exclude certain product involvement areas in its investment strategy. The data points return a Yes or No.

Note: Funds can disclose multiple attributes at once.

The data points indicating inclusion are as follows:

The data points indicating exclusion are as follows:

gSustainable Investment - ESG Incorporation

gSustainable Investment - Environmental

gSustainable Investment - ESG Engagement

gSustainable Investment - Other Impact Themes

gSustainable Investment - Gender & Diversity

gSustainable Investment - Renewable Energy

gSustainable Investment - Low Carbon/Fossil-Fuel Free

gSustainable Investment - Water-Focused

gSustainable Investment - Community Development

gSustainable Investment - General Environmental Sector

g Employs Exclusions - Uses Norms-Based Screening

g Employs Exclusions - Military Contracting

g Employs Exclusions - Abortion/Stem Cells

g Employs Exclusions - Nuclear

g Employs Exclusions - Adult Entertainment

g Employs Exclusions - Palm Oil

g Employs Exclusions - Alcohol g Employs Exclusions - Pesticides

g Employs Exclusions - Animal Testing g Employs Exclusions - Small Arms

g Employs Exclusions - Controversial Weapons

g Employs Exclusions - Thermal Coal

g Employs Exclusions - Fur & Specialty Leather

g Employs Exclusions - Tobacco

g Employs Exclusions - Gambling g Employs Exclusions - Other

g Employs Exclusions - GMOs

Morningstar DirectSM Release Notes December 14, 2018 What’s new in Morningstar indexes?


What’s new in Morningstar indexes?

Morningstar indexes can now be used as benchmarks. The new data point Morningstar Index is available to the following modules in Morningstar Direct.

g Local Databases > Category/Sector AvggGlobal Databases > Category/Sector AvggWorkspacegPortfolio AnalysisgPerformance Reporting (supplemental data point), andgPresentation Studio.

The data point Morningstar Index is not included in any predefined view.

Use Edit Data to display the Morningstar Index data point.

Morningstar DirectSM Release Notes December 14, 2018 How can I access the Morningstar Collective Investment Trust Report?


How can I access the Morningstar Collective Investment Trust Report?

The Morningstar Collective Investment Trust Report is now available for CIT securities. The report includes the following:

gSummarygProcess: ApproachgProcess: PortfoliogPerformancegPeoplegParentgMorningstar Separately Managed Account Report Disclosure.

In a list or screener, right-click the Collective Investment Trust (CIT) security, then select Reports > Global Separate Account/CIT Report.

Note the highlighted selections.



The report opens as a printable, downloadable PDF.

Sample Summary, Process: Approach, and Process: Portfolio pages in a Morningstar Collective Trust Report are show here.



Sample Performance, Parent, and People pages in a Morningstar Collective Trust Report are show here.

Morningstar DirectSM Release Notes December 14, 2018 What Separate Account data points are now available in pre-built views?


What Separate Account data points are now available in pre-built views?

The following data points for Separate Accounts are now available in the Historical Operations view:

Data Point Data Point Type

Strategy # of Accounts >$100M Numeric

Strategy Market Value of Accounts >$100M Currency

Strategy # of Accounts $10M to $25M Numeric

Strategy Market Value of Accounts $10M to $25M Currency



Strategy # of Accounts $250K to $1M Numeric

Strategy Market Value of Accounts $250K to $1M Currency

Strategy # of Accounts <$250K Numeric

Strategy Market Value of Accounts <$250K Currency





Strategy # of Tax Exempt Accounts Numeric

Strategy Market Value of Tax Exempt Accounts Currency

Strategy # of Taxable Accounts Numeric

Strategy Market Value of Taxable Accounts Currency

Morningstar DirectSM Release Notes December 14, 2018 What Separate Account data points are now available in pre-built views?


The following data points for Separate Accounts are now available in the Historical Firm Client Type view:

Data Point Data Point Type

Firm Market Value by Investment Channel: Separate Account Taxable Accounts

Currency

Firm # of Accounts by Investment Channel: Separate Account Taxable Accounts

Numeric

Firm Market Value by Investment Channel: Separate Account Tax-Exempt Accounts

Currency

Firm # of Accounts by Investment Channel: Separate Account Tax-Exempt Accounts

Numeric

Firm # of Accounts by Asset Type: Cash Accounts Numeric

Firm # of Accounts by Asset Type: Global Allocation Accounts Numeric

Firm # of Accounts by Asset Type: Global Bond Accounts Numeric

Firm # of Accounts by Asset Type: Global Stock Accounts Numeric

Firm # of Accounts by Asset Type: Non-US Allocation Accounts Numeric

Firm # of Accounts by Asset Type: Non-US Bond Accounts Numeric

Firm # of Accounts by Asset Type: Non-US Real Estate Accounts Numeric

Firm # of Accounts by Asset Type: Non-US Stock Accounts Numeric

Firm # of Accounts by Asset Type: Other Accounts Numeric

Firm # of Accounts by Asset Type: US Allocation Accounts Numeric

Firm # of Accounts by Asset Type: US Bond Accounts Numeric

Firm # of Accounts by Asset Type: US Real Estate Accounts Numeric

Firm # of Accounts by Asset Type: US Stock Accounts Numeric

Morningstar DirectSM Release Notes December 14, 2018 What Separate Account data points are new?


What Separate Account data points are new?

For consistency, ($MM) was removed from the data point names shown in the following table:

Note: All listed data points are available in the Firm Assets and Accounts view.

Old Data Point Name New Data Point Name

Firm Market Value by Asset Type

Firm Market Value by Asset Type: US Stock Accounts ($MM) Firm Market Value by Asset Type: US Stock Accounts

Firm Market Value by Asset Type: US Bond Accounts ($MM) Firm Market Value by Asset Type: US Bond Accounts

Firm Market Value by Asset Type: US Allocation Accounts ($MM)

Firm Market Value by Asset Type: US Allocation Accounts

Firm Market Value by Asset Type: Non-US Stock Accounts ($MM)

Firm Market Value by Asset Type: Non-US Stock Accounts

Firm Market Value by Asset Type: Non-US Bond Accounts ($MM)

Firm Market Value by Asset Type: Non-US Bond Accounts

Firm Market Value by Asset Type: Non-US Allocation Accounts ($MM)

Firm Market Value by Asset Type: Non-US Allocation Accounts

Firm Market Value by Asset Type: Global Stock Accounts ($MM)

Firm Market Value by Asset Type: Global Stock Accounts

Firm Market Value by Asset Type: Global Bond Accounts ($MM)

Firm Market Value by Asset Type: Global Bond Accounts

Firm Market Value by Asset Type: Global Allocation Accounts ($MM)

Firm Market Value by Asset Type: Global Allocation Accounts

Firm Market Value by Asset Type: Cash Accounts ($MM) Firm Market Value by Asset Type: Cash Accounts

Firm Market Value by Asset Type: Other Accounts ($MM) Firm Market Value by Asset Type: Other Accounts

Firm Market Value by Asset Type: US Real Estate Accounts ($MM)

Firm Market Value by Asset Type: US Real Estate Accounts

Firm Market Value by Asset Type: Non-US Real Estate Accounts ($MM)

Firm Market Value by Asset Type: Non-US Real Estate Accounts

Firm Market Value by Investment Channel: CITs, Mutual Funds, Other Accounts, UITs

Firm Market Value by Investment Channel: Other Accounts ($MM)

Firm Market Value by Investment Channel: Other Accounts

Firm Market Value by Investment Channel: Mutual Fund Accounts ($MM)

Firm Market Value by Investment Channel: Mutual Fund Accounts

Firm Market Value by Investment Channel: Collective Investment Trust Accounts ($MM)

Firm Market Value by Investment Channel: Collective Investment Trust Accounts

Firm Market Value by Investment Channel: Unit Investment Trust Accounts ($MM)

Firm Market Value by Investment Channel: Unit Investment Trust Accounts

Morningstar DirectSM Release Notes December 14, 2018 What’s new in Japanese GICS sectors?


What’s new in Japanese GICS sectors?

Eight Japanese GICS sectors were renamed, as shown in the following table:

What’s new in Japanese GICS industries?

Twenty-seven Japanese GICS industries were renamed, as shown in the following table:

English Sector Name Old Japanese Sector Name New Japanese Sector Name

GICS Communication Services % (Net) GICS電気通信サービス % (ネット) GICSコミュニケーション・サービス % (ネット)

GICS Real Estate % (Net) GICS Real Estate % (Net) GICS 不動産 % (ネット)

GICS Communication Services % (Long) GICS電気通信サービス % (ロング) GICSコミュニケーション・サービス % (ロング)

GICS Real Estate % (Long) GICS Real Estate % (Long) GICS 不動産 % (ロング)

GICS Communication Services % (Short) GICS電気通信サービス % (ショート)

GICSコミュニケーション・サービス % (ショート)

GICS Real Estate % (Short) GICS Real Estate % (Short) GICS 不動産 % (ショート)

GICS Communication Services % (Long Rescaled)

GICS電気通信サービス % (スケール調整後ロング)

GICSコミュニケーション・サービス % (スケール調整後ロング)

GICS Real Estate % (Long Rescaled) GICS Real Estate % (Long Rescaled) GICS 不動産 % (スケール調整後ロング)

GICS Sector English Industry NameOld Japanese Industry Name New Japanese Industry Name

Communication Services

GICS Interactive Media & Service % (Long Rescaled)

GICS Interactive Media & Service % (Long Rescaled)

GICS インタラクティブ・メディアおよびサービス % (スケール調整後ロング)

GICS Interactive Media & Service % (Long)

GICS Interactive Media & Service % (Long)

GICS インタラクティブ・メディアおよびサービス % (ロング)

GICS Interactive Media & Service % (Net)

GICS Interactive Media & Service % (Net)

GICS インタラクティブ?メディアおよびサービス % (ネット)

Morningstar DirectSM Release Notes December 14, 2018 What’s new in Japanese GICS industries?


Consumer Discretionary

GICS Entertainment % (Long Rescaled)

GICS Entertainment % (Long Rescaled)

GICS 娯楽 % (スケール調整後ロング)

GICS Entertainment % (Long) GICS Entertainment % (Long) GICS 娯楽 % (ロング)

GICS Entertainment % (Net) GICS Entertainment % (Net) GICS 娯楽 % (ネット)

GICS Leisure Products % (Long)

GICS Leisure Products % (Long)

GICS レジャー用品 % (ロング)

GICS Leisure Products % (Long Rescaled)

GICS Leisure Products % (Long Rescaled)

GICS レジャー用品 % (スケール調整後ロング)

GICS Leisure Products % (Net)

GICS Leisure Products % (Net)

GICS レジャー用品 % (ネット)

GICS Media % (Long Rescaled)

GICS Media % (Long Rescaled)

GICS メディア % (スケール調整後ロング)

GICS Media % (Long) GICS Media % (Long) GICS メディア % (ロング)

GICS Media % (Net) GICS Media % (Net) GICS メディア % (ネット)

Financials GICS Mortgage REITs % (Long Rescaled)

GICS Mortgage REITs % (Long Rescaled)

GICS モーゲージ不動産投資信託 % (スケール調整後ロング)

GICS Mortgage REITs % (Long)

GICS Mortgage REITs % (Long)

GICS モーゲージ不動産投資信託 % (ロング)

GICS Mortgage REITs % (Net)

GICS Mortgage REITs % (Net)

GICS モーゲージ不動産投資信託 % (ネット)

Information Technology

GICS Technology Hardware, Storage & Peripherals % (Long Rescaled)

GICS Technology Hardware, Storage & Peripherals % (Long Rescaled)

GICS コンピュータ・周辺機器 % (スケール調整後ロング)

GICS Technology Hardware, Storage & Peripherals % (Long)

GICS Technology Hardware, Storage & Peripherals % (Long)

GICS コンピュータ・周辺機器 % (ロング)

GICS Technology Hardware, Storage & Peripherals % (Net)

GICS Technology Hardware, Storage & Peripherals % (Net)

GICS コンピュータ・周辺機器%(ネット)


Morningstar DirectSM Release Notes December 14, 2018 What’s new in SITCA categories?


What’s new in SITCA categories?

Three new SITCA categories were launched by The Taiwan Securities Investment Trust & Consulting Association (SITCA), as shown in the following table:

Real Estate GICS Equity REITs % (Long Rescaled)

GICS Equity REITs % (Long Rescaled)

GICS エクイティ不動産投資信託 % (スケール調整後ロング)

GICS Equity REITs % (Long) GICS Equity REITs % (Long) GICS エクイティ不動産投資信託 % (ロング)

GICS Equity REITs % (Net) GICS Equity REITs % (Net) GICS エクイティ不動産投資信託 % (ネット)

GICS Real Estate Management & Development % (Long Rescaled)

GICS Real Estate Management & Development % (Long Rescaled)

GICS 不動産管理・開発 % (スケール調整後ロング)

GICS Real Estate Management & Development % (Long)

GICS Real Estate Management & Development % (Long)

GICS 不動産管理・開発 % (ロング)

GICS Real Estate Management & Development % (Net)

GICS Real Estate Management & Development % (Net)

GICS 不動産管理・開発 % (Net)

Utilities GICS Independent Power & Renewable Electricity Producers % (Long Rescaled)

GICS Independent Power & Renewable Electricity Producers % (Long Rescaled)

GICS 独立系発電事業者・エネルギー販売業者 % (スケール調整後ロング)

GICS Independent Power & Renewable Electricity Producers % (Long)

GICS Independent Power & Renewable Electricity Producers % (Long)

GICS 独立系発電事業者・エネルギー販売業者 % (ロング)

GICS Independent Power & Renewable Electricity Producers % (Net)

GICS Independent Power & Renewable Electricity Producers % (Net)

GICS 独立系発電事業者・エネルギー販売業者 % (ネット)


SITCA Category (English) SITCA Category (Chinese-Taiwan)

International Bond - Investment Grade (Target Date Fund)

債券型/海外債券/投資等級/投資等級-目標到期

International FOF Equity - Target Date Fund

組合型/跨國組合/目標日期型

Balanced - International- Single Country - China

平衡型及多重資型/債券股票平衡型/跨國投資型/跨國投資-單一國家型-中國大陸

Morningstar DirectSM Release Notes December 14, 2018 What’s new in the All Offshore Open-End Funds universe?


What’s new in the All Offshore Open-End Funds universe?

The data point Share Class Fee Basis is now available in the All Offshore Open-End Funds universe. The Share Class Fee Basis distinguishes between the following classes:

g classes that load their management fees with amounts to fund advisers and platforms for their role in distribution

g classes that do not load their management fees with amounts to fund advisers and platforms for their role in distribution, and

g classes that levy no management fee at all, instead negotiating fees separately with their clients.

The data point Share Class Fee Basis is available in the Snapshot View.

What’s new in the Asset Flows module?

To be consistent with the US market, the “Include Obsolete” option in European and Worldwide markets is now “Exclude Obsolete.”


Morningstar DirectSM Release Notes December 14, 2018 As a UK CEF client, how can I access Sector Focus data?


As a UK CEF client, how can I access Sector Focus data?

Due to changes in the format, content, and structure of the Daily Fund Lists (a set of data files supporting legacy UK CEF services), UK CEF clients who receive the lists are migrating to Performance Reporting in Morningstar Direct. To help them recreate their reports, the data point Sector Focus is now available as a supplementary data point when creating a performance report.


Morningstar DirectSM Release Notes December 14, 2018 What’s new in Danish funds and universes?


What’s new in Danish funds and universes?

ESMA (The European Securities and Markets Authority) announced that approximately 70% of Danish open-end funds will be reclassified to ETFs. Consequently, in Asset Flows, the universes shown in the following table were renamed and now include Danish ETFs as well as Danish open-end funds:

Old Name New Name

Denmark Open-end Funds Denmark Open-end Funds & ETFs

Denmark Open-end (domiciled) Denmark Open-end & ETF (domiciled)

Denmark Open-end ex FoF (domiciled) Denmark Open-end & ETF ex FoF (domiciled)


Morningstar DirectSM Release Notes December 14, 2018 What’s new in PPM data points?


What’s new in PPM data points?

All adults in Sweden participate in the Premium Pension System (PPM). To track investments included in this system, Morningstar currently collects the following data points:

gPPM (a Yes/No flag), andgPPM Code (a six-digit code).

The PPM Code (previously at share-class level) is now at performance level, resulting in fund share classes with the same performance ID receiving the same PPM Code. This enables the following universes and views to correctly list the relevant share classes:

gSweden Open-End Funds (AFS), in the Operations viewgGlobal OE Funds, in the Operations (Global) view, andgGlobal Funds (Open End and Exchange Traded Funds), in the Operations

(Global) view.

The data points PPM and PPM Code are found near the middle of the Operations view in the Swedish Open End Funds (AFS) universe.

Morningstar DirectSM Release Notes December 14, 2018 What’s new in the Morningstar Excel Add-In?


What’s new in the Morningstar Excel Add-In?

The remainder of this document focuses on new and modified features in the Morningstar Excel Add-In. This information became available on November 26, 2018. If you downloaded the latest version (7.4) of the Morningstar Excel Add-In since then, you don’t need to download it again.

What data points are new in the Fixed-Income Primary Sector?

Prior to this release, most Fixed-Income Primary Sector data points were net, short data. Now long and short rescaled data points are available, as listed in the following table:

Data Point Name Short Name

Fixed-Inc Primary Sector Government % (Net)

FI_Primary_Sector_Government_Net

Fixed-Inc Primary Sector Government Related % (Net)

FI_Primary_Sector_Government_Related_Net

Fixed-Inc Primary Sector Municipal Taxable % (Net)

FI_Primary_Sector_Municipal_Taxable_Net

Fixed-Inc Primary Sector Municipal Tax-Exempt % (Net)

FI_Primary_Sector_Municipal_Tax_Exempt_Net

Fixed-Inc Primary Sector Corporate Bond % (Net)

FI_Primary_Sector_Corporate_Bond_Net

Fixed-Inc Primary Sector Agency Mortgage-Backed % (Net)

FI_Primary_Sector_Agency_Mortgage_Backed_Net

Fixed-Inc Primary Sector Non-Agency Residential Mortgage-Backed % (Net)

FI_Primary_Sector_Non_Agency_Residential_Mortgage_Backed_Net

Fixed-Inc Primary Sector Commercial Mortgage-Backed % (Net)

FI_Primary_Sector_Commercial_Mortgage_Backed_Net

Fixed-Inc Primary Sector Covered Bond % (Net)

FI_Primary_Sector_Covered_Bond_Net

Fixed-Inc Primary Sector Asset-Backed % (Net)

FI_Primary_Sector_Asset_Backed_Net

Fixed-Inc Primary Sector Cash & Equivalents % (Net)

FI_Primary_Sector_Cash_Equivalents_Net

Fixed-Inc Primary Sector Swap % (Net) FI_Primary_Sector_Swap_Net

Fixed-Inc Primary Sector Forward/Future % (Net)

FI_Primary_Sector_Forward/Future_Net

Fixed-Inc Primary Sector Option/Warrant % (Net)

FI_Primary_Sector_Option/Warrant_Net

Fixed-Inc Primary Sector Government % (Short)

FI_Primary_Sector_Government_Short

Morningstar DirectSM Release Notes December 14, 2018 What data points are new in the Fixed-Income Primary Sector?


Fixed-Inc Primary Sector Government Related % (Short)

FI_Primary_Sector_Government_Related_Short

Fixed-Inc Primary Sector Municipal Taxable % (Short)

FI_Primary_Sector_Municipal_Taxable_Short

Fixed-Inc Primary Sector Municipal Tax-Exempt % (Short)

FI_Primary_Sector_Municipal_Tax_Exempt_Short

Fixed-Inc Primary Sector Corporate Bond % (Short)

FI_Primary_Sector_Corporate_Bond_Short

Fixed-Inc Primary Sector Agency Mortgage-Backed % (Short)

FI_Primary_Sector_Agency_Mortgage_Backed_Short

Fixed-Inc Primary Sector Non-Agency Residential Mortgage-Backed % (Short)

FI_Primary_Sector_Non_Agency_Residential_Mortgage_Backed_Short

Fixed-Inc Primary Sector Commercial Mortgage-Backed % (Short)

FI_Primary_Sector_Commercial_Mortgage_Backed_Short

Fixed-Inc Primary Sector Covered Bond % (Short)

FI_Primary_Sector_Covered_Bond_Short

Fixed-Inc Primary Sector Asset-Backed % (Short)

FI_Primary_Sector_Asset_Backed_Short

Fixed-Inc Primary Sector Cash & Equivalents % (Short)

FI_Primary_Sector_Cash_Equivalents_Short

Fixed-Inc Primary Sector Swap % (Short) FI_Primary_Sector_Swap_Short

Fixed-Inc Primary Sector Forward/Future % (Short)

FI_Primary_Sector_Forward/Future_Short

Fixed-Inc Primary Sector Option/Warrant % (Short)

FI_Primary_Sector_Option/Warrant_Short

Fixed-Inc Primary Sector Government % (Long)

FI_Primary_Sector_Government_Long

Fixed-Inc Primary Sector Government Related % (Long)

FI_Primary_Sector_Government_Related_Long

Fixed-Inc Primary Sector Municipal Taxable % (Long)

FI_Primary_Sector_Municipal_Taxable_Long

Fixed-Inc Primary Sector Municipal Tax-Exempt % (Long)

FI_Primary_Sector_Municipal_Tax_Exempt_Long

Fixed-Inc Primary Sector Corporate Bond % (Long)

FI_Primary_Sector_Corporate_Bond_Long

Fixed-Inc Primary Sector Agency Mortgage-Backed % (Long)

FI_Primary_Sector_Agency_Mortgage_Backed_Long


Morningstar DirectSM Release Notes December 14, 2018 What data points are new in the Fixed-Income Primary Sector?


Fixed-Inc Primary Sector Non-Agency Residential Mortgage-Backed % (Long)

FI_Primary_Sector_Non_Agency_Residential_Mortgage_Backed_Long

Fixed-Inc Primary Sector Commercial Mortgage-Backed % (Long)

FI_Primary_Sector_Commercial_Mortgage_Backed_Long

Fixed-Inc Primary Sector Covered Bond % (Long)

FI_Primary_Sector_Covered_Bond_Long

Fixed-Inc Primary Sector Asset-Backed % (Long)

FI_Primary_Sector_Asset_Backed_Long

Fixed-Inc Primary Sector Cash & Equivalents % (Long)

FI_Primary_Sector_Cash_Equivalents_Long

Fixed-Inc Primary Sector Swap % (Long) FI_Primary_Sector_Swap_Long

Fixed-Inc Primary Sector Forward/Future % (Long)

FI_Primary_Sector_Forward/Future_Long

Fixed-Inc Primary Sector Option/Warrant % (Long)

FI_Primary_Sector_Option/Warrant_Long

Fixed-Inc Primary Sector Rescaling Factor (Long)

FI_Primary_Sector_Rescaling_Factor_Long

Fixed-Inc Primary Sector Rescaling Factor (Short)

FI_Primary_Sector_Rescaling_Factor_Short

Fixed-Inc Primary Sector Government % (Short Rescaled)

FI_Primary_Sector_Government_Short_Rescaled

Fixed-Inc Primary Sector Government Related % (Short Rescaled)

FI_Primary_Sector_Government_Related_Short_Rescaled

Fixed-Inc Primary Sector Municipal Taxable % (Short Rescaled)

FI_Primary_Sector_Municipal_Taxable_Short_Rescaled

Fixed-Inc Primary Sector Municipal Tax-Exempt % (Short Rescaled)

FI_Primary_Sector_Municipal_Tax_Exempt_Short_Rescaled

Fixed-Inc Primary Sector Bank Loan % (Short Rescaled)

FI_Primary_Sector_Bank_Loan_Short_Rescaled

Fixed-Inc Primary Sector Convertible % (Short Rescaled)

FI_Primary_Sector_Convertible_Short_Rescaled

Fixed-Inc Primary Sector Corporate Bond % (Short Rescaled)

FI_Primary_Sector_Corporate_Bond_Short_Rescaled

Fixed-Inc Primary Sector Preferred Stock % (Short Rescaled)

FI_Primary_Sector_Preferred_Stock_Short_Rescaled

Fixed-Inc Primary Sector Agency Mortgage-Backed % (Short Rescaled)

FI_Primary_Sector_Agency_Mortgage_Backed_Short_Rescaled


Morningstar DirectSM Release Notes December 14, 2018 What data points are new in the UK CEF Peer Group?


What data points are new in the UK CEF Peer Group?

The data points added to the UK CEF Peer Group are shown in the following table:

Fixed-Inc Primary Sector Non-Agency Residential Mortgage-Backed % (Short Rescaled)

FI_Primary_Sector_Non_Agency_Residential_Mortgage_Backed_Short_Rescaled

Fixed-Inc Primary Sector Commercial Mortgage-Backed % (Short Rescaled)

FI_Primary_Sector_Commercial_Mortgage_Backed_Short_Rescaled

Fixed-Inc Primary Sector Covered Bond % (Short Rescaled)

FI_Primary_Sector_Covered_Bond_Short_Rescaled

Fixed-Inc Primary Sector Asset-Backed % (Short Rescaled)

FI_Primary_Sector_Asset_Backed_Short_Rescaled

Fixed-Inc Primary Sector Cash & Equivalents % (Short Rescaled)

FI_Primary_Sector_Cash_Equivalents_Short_Rescaled

Fixed-Inc Primary Sector Swap % (Short Rescaled)

FI_Primary_Sector_Swap_Short_Rescaled

Fixed-Inc Primary Sector Forward/Future % (Short Rescaled)

FI_Primary_Sector_Forward/Future_Short_Rescaled

Fixed-Inc Primary Sector Option/Warrant % (Short Rescaled)

FI_Primary_Sector_Option/Warrant_Short_Rescaled



Ex-Par NAV Weighted DRI Date Ex_Par_NAV_Weighted_DRI_Date

Ex-Par NAV Weighted DRI Ex_Par_NAV_Weighted_DRI

Ex-Par NAV Unweighted DRI Date Ex_Par_NAV_Unweighted_DRI_Date

Ex-Par NAV Unweighted DRI Ex_Par_NAV_Unweighted_DRI

Ex-Par Weighted Daily Discount Date Ex_Par_Weighted_Daily_Discount_Date

Ex-Par Weighted Daily Discount Ex_Par_Weighted_Daily_Discount

Ex-Par Unweighted Daily Discount Date Ex_Par_Unweighted_Daily_Discount_Date

Ex-Par Unweighted Daily Discount Ex_Par_Unweighted_Daily_Discount

Morningstar DirectSM Release Notes December 14, 2018 What historical data points are new in the UK and US CEF Peer Groups?


What historical data points are new in the UK and US CEF Peer Groups?

The new historical data points in the UK and US CEF Peer Groups are shown in the following table:

Cum-Fair NAV Weighted DRI Date Cum_Fair_NAV_Weighted_DRI_Date

Cum-Fair NAV Weighted DRI Cum_Fair_NAV_Weighted_DRI

Cum-Fair Weighted Daily Discount Date Cum_Fair_Weighted_Daily_Discount_Date

Cum-Fair Weighted Daily Discount Cum_Fair_Weighted_Daily_Discount

Cum-Fair Unweighted Daily Discount Date Cum_Fair_Unweighted_Daily_Discount_Date

Cum-Fair Unweighted Daily Discount Cum_Fair_Unweighted_Daily_Discount


gNAV Weighted DRI gPrice Unweighted Daily Income Only Yield

gNAV Unweighted DRI gPrice Weighted Daily Income & Capital Gain Yield

gPrice Weighted DRI gPrice Unweighted Daily Income & Capital Gain Yield

gPrice Unweighted DRI gPrice Weighted Daily Total Distribution Yield

gWeighted Daily Discount gPrice Unweighted Daily Total Distribution Yield

gUnweighted Daily Discount g Ex-Par NAV Weighted DRI

gNAV Weighted Daily Income Only Yield

g Ex-Par NAV Unweighted DRI

gNAV Unweighted Daily Income Only Yield

g Ex-Par Weighted Daily Discount

gNAV Weighted Daily Income & Capital Gain Yield

g Ex-Par Unweighted Daily Discount

gNAV Unweighted Daily Income & Capital Gain Yield

gCum-Fair NAV Weighted DRI

gNAV Weighted Daily Total Distribution Yield

gCum-Fair Weighted Daily Discount

gNAV Unweighted Daily Total Distribution Yield

gCum-Fair Unweighted Daily Discount

gPrice Weighted Daily Income Only Yield

Morningstar DirectSM Release Notes December 14, 2018 What data points were retired from closed-end funds?


What data points were retired from closed-end funds?

The data points Last AGM and Options Strategy Flag were retired.

What data points are new in closed-end funds?

The data points Total Leverage Ratio Historical and Net Gearing (Cum Fair) are now available in closed-end funds.

What new data points are available for GICS Communications Equipment?

Prior to this release, GICS Communications Equipment % (Long) was the only data point for GICS Communications Equipment. The data points listed in the following table are now available:

How can I access Sustainability Scores?

To align with the recent Morningstar® Sustainability RatingTM changes, the data points Historical Sustainability Score and Portfolio Sustainability Score are now available. Historical Sustainability Score shows the 12-month average of Morningstar® Sustainability ScoreTM values.

To learn how the Morningstar Sustainability Rating is calculated, please read the Morningstar Sustainability Rating Methodology.


GICS Communications Equipment % (Long) GICS_Communications_Equipment_Long

GICS Communications Equipment % (Short) GICS_Communications_Equipment_Short

GICS Communications Equipment % (Net) GICS_Communications_Equipment_Net

https://direct.morningstar.com/research/doc/Oct%2031%202018_Morningstar_Sustainability_Rating_for_Funds_744156




How can I identify which funds disclose their intention to include or exclude ESG impacts in their investment process?

New data points are available to reveal a fund’s intention to incorporate specific areas of ESG impact or exclude certain industries in their investment strategy. The data points are listed in the following table:

Note: Funds can disclose multiple attributes at once.

Data Point Group Data Point Name Data Point Short Name

Fund Product Involvement

Portfolio Category Average Product Involvement Percentage

Portfolio_Category_Average_Product_Involvement_Percentage

Portfolio Product Involvement Percentage

Portfolio_Product_Involvement_Percentage

ESG Carbon Benchmark Carbon Risk Score Benchmark_Carbon_Risk_Score

Carbon - Portfolio Coverage Carbon_Portfolio_Coverage

Carbon Risk Breakdown Carbon_Risk_Breakdown

Carbon Risk Classification Carbon_Risk_Classification

Carbon Risk Score Carbon_Risk_Score

Carbon Risk Score All Funds Rank

Carbon_Risk_Score_All_Funds_Rank

Carbon Risk Score Category Average

Carbon_Risk_Score_Category_Average

Carbon Risk Score Components Carbon_Risk_Score_Components

Carbon Risk Score Components Category Average

Carbon_Risk_Score_Components_Category_Average

Carbon Risk Score Components Percent Rank in Category

Carbon_Risk_Score_Components_Percent_Rank_in_Category

Carbon Risk Score Percent Rank in Category

Carbon_Risk_Score_Percent_Rank_in_Category

Portfolio Carbon Involvement Portfolio_Carbon_Involvement

Portfolio Carbon Involvement Category Average

Portfolio_Carbon_Involvement_Category_Average

Portfolio Fossil Fuel Involvement Portfolio_Fossil_Fuel_Involvement

Portfolio Fossil Fuel Involvement Category Average

Portfolio_Fossil_Fuel_Involvement_Category_Average

Low Carbon Designation Low_Carbon_Designation




This broad grouping... Includes these data points...

Sustainable Investment - ESG Fund ESG Fund - Overall

ESG Incorporation

ESG Engagement

Sustainable Investment - Environmental Sector Environmental Sector - Overall

Renewable Energy

Water-Focused

General Environmental Sector

Sustainable Investment - Impact Fund Impact Fund - Overall

Gender and Diversity

Low Carbon/Fossil-Fuel Free

Community Development

Environmental

Other Impact Themes




Employs Exclusions Uses Norms-Based Screening

Excludes Abortion/Stem Cells

Excludes Adult Entertainment

Excludes Alcohol

Excludes Animal Testing

Excludes Controversial Weapons

Excludes Fur & Specialty Leather

Excludes Gambling

Excludes GMOs

Excludes Military Contracting

Excludes Nuclear

Excludes Palm Oil

Excludes Pestcidides

Excludes Small Arms

Excludes Thermal Coal

Excludes Tobacco

Excludes Other

Excludes - Overall

This broad grouping... Includes these data points...

Morningstar DirectSM Release Notes December 14, 2018 What’s new in Strategic Beta data?


What’s new in Strategic Beta data?

Based on industry trends and client feedback, the Strategic Beta data methodology was modified to more accurately filter and compare different index strategies. Three new data points are available to all open-end, ETF, and index universes. They are collected, not calculated, and are found in the Snapshot view. They are described in the following table:

How can I save changes in a formula?

Prior to this release, you could not save changes to a formula. For example, when you first create a formula, the Show Dates setting is off. Later, you may decide to display dates. With the new Save button, you no longer need to rebuild the formula from scratch.

Do the following:

1. In the spreadsheet, select the cell containing the formula.

2. On the Command bar, select Morningstar, then on the Ribbon, click Investments. The Morningstar Add-In window opens, displaying the settings for that formula.

Old Data Point Definition New Data Point(s) Definition

Strategic Beta Attributes

A mix of index selection, index weighting, and general grouping attributes. Because the data was collected for only Strategic Beta index products, the scope of data was too narrow to accurately compare index methodology across all index tracking products. It has been replaced with two separate data points to collect data for all index tracking products and list all index selection and index weighting strategies.

Index Selection Attributes describing how an index selects its constituents. An index may have multiple attributes.

Index Weighting Attributes describing how an index assigns weight to its constituents, based on market beta. An index may have multiple attributes.

Strategic Beta Group

A collected data point, consisting of only three groups. Due to the increasing number of different types of Strategic Beta products, the calculated Strategic Beta Group has been replaced with a more granular, collected Strategic Beta Group data point.

Strategic Beta Group

Classifies strategic beta products according to the similarity of their objectives.

Click the cell containing the formula you want to edit.

Morningstar DirectSM Release Notes December 14, 2018 What’s new in Equity Economic Sector data?


3. Click the Show Dates checkbox.

4. Click Save, then click Submit.

5. Note the change to the spreadsheet.

What’s new in Equity Economic Sector data?

To correct a data point name duplication, the data point Equity Econ Sector Healthcare % (Long Rescaled) is now named Equity Econ Sector Industrials % (Net).

What’s new in Separate Account and Strategy data?

To be consistent with Morningstar Direct, the data point CFA GIPS Comp Date was replaced by GIPS Compliance Verification Date.

If the old data point is used in your work, you need to replace it.


The date is displayed in the spreadsheet.

Morningstar DirectSM Release Notes December 14, 2018How can I export the data points in a universe or group

from the Data Dictionary?


How can I export the data points in a universe or group from the Data Dictionary?

You can now export the following from the Morningstar Excel Add-In data dictionary:

g one or more selected data pointsg the currently selected group of data points, org all data points in the selected universe.

Data points are exported as a .csv file, which you can open in Microsoft Excel and use the short name, full name to build your own formula and template.

In this example, you will learn how to export all data points in a universe or group. To learn how to export one or more selected data points, go to How can I export one or more data points from the Data Dictionary? on page 29.

The data points are exported to a .csv file, which you can open in Microsoft Excel.

Do the following:

1. In a browser, go to http://addin.morningstarcommodity.com.

2. Select Data Dictionary. The Data Dictionary opens.

3. From the Universe drop-down field, select a Universe. The groups in the selected universe are displayed.

4. Select a group. The data points in the selected group are displayed in the scroll list to the right.

5. Click Export. The Export drop-down field opens.

6. Do one of the following:

g To export all data points from the selected group, select Export Current Selection, or

g To export all data points from all groups in the selected universe, select Export All Data Points.

In the following illustration, the selections are as follows:g Universe: Open End Fundg Group: Asset Allocation, andg Export > Export Current Selection.

Note: To export all data points in the Open End Fund universe, from the Export drop-down field, select Export All Data Points.

Depending on your browser settings, one of the following happens:g A new Excel spreadsheet opens, displaying the exported data points, or g You are prompted to save the exported data points as a .csv file.


Morningstar DirectSM Release Notes December 14, 2018 How can I export one or more data points from the Data Dictionary?


How can I export one or more data points from the Data Dictionary?

Before exporting one or more data points, use the Search function so that only the data points you want are shown in the scroll list.

In this exercise, you will export all Super Sector data points from the Equity Sector Exposure group in the Exchange Traded Fund universe.

Do the following:

1. In a browser, go to http://addin.morningstarcommodity.com.

2. Select Data Dictionary. The Data Dictionary opens.

3. From the Universe drop-down field, select Exchange Traded Fund. The groups in the Exchange Traded Fund universe are displayed.

4. Select Equity Sector Exposure. The data points in the Equity Sector Exposure group are displayed in the scroll list to the right.

5. In the Search field, type Super_Sector. The list updates as you type.

Note: To export a single data point, enter its full short name in the Search field.

6. Click Export, then from the Export drop-down field, select Export Current Selection.

Depending on your browser settings, one of the following happens:g A new Excel spreadsheet opens, displaying the exported data points, or g You are prompted to save the exported data points as a .csv file.


Documents

Morningstar DirectSM Release Notes December 14, 2018