Morningstar Ratings & Rankings

  Morningstar Ratings™ as of 8/31/2018

Fund Name/
Inception Date
Category
Rating / Number of funds in the category
3-Year
5-Year
10-Year
Overall
Rating
Value Fund - Investor Class
(05/09/1986)
Large Growth

out of 1251

out of 1124

out of 812

out of 1251
Value Fund- Institutional Class
(05/09/1986)
Large Growth

out of 1251

out of 1124

out of 812

out of 1251
Partners Value Fund - Investor Class
(06/01/1983)
Large Growth

out of 1251

out of 1124

out of 812

out of 1251
Partners Value Fund- Institutional Class
(06/01/1983)
Large Growth

out of 1251

out of 1124

out of 812

out of 1251
Partners III Opportunity Fund - Investor Class
(06/01/1983)
Long-Short Equity

out of 193

out of 102

out of 27

out of 193
Partners III Opportunity Fund - Institutional Class
(06/01/1983)
Long-Short Equity

out of 193

out of 102

out of 27

out of 193
Hickory Fund
(04/01/1993)
Mid-Cap Blend

out of 366

out of 333

out of 229

out of 366
Balanced Fund
(10/01/2003)
Allocation--30% to 50% Equity

out of 435

out of 355

out of 256

out of 435
Core Plus Income Fund - Investor Class
(07/31/2014)
Intermediate-Term Bond

out of 901
n/a
n/a

out of 901
Core Plus Income Fund- Institutional Class
(07/31/2014)
Intermediate-Term Bond

out of 901
n/a
n/a

out of 901
Short Duration Income Fund - Investor Class
(12/23/1988)
Short-Term Bond

out of 467

out of 390

out of 260

out of 467
Short Duration Income Fund - Institutional Class
(12/23/1988)
Short-Term Bond

out of 467

out of 390

out of 260

out of 467
Nebraska Tax-Free Income Fund
(10/01/1985)
Muni Single State Interm

out of 140

out of 138

out of 117

out of 140
Ratings are based on risk-adjusted returns and are historical and do not represent future results. The Overall Morningstar Rating for a fund is derived from a weighted average of the performance figures associated with its three-year, five-year, and ten-year (if applicable) Morningstar Ratings metrics.
Please note, some of the Morningstar proprietary calculations, including the Morningstar Rating™, are not customarily calculated based on adjusted historical returns. The evaluation of this investment does not affect the retail mutual fund data published by Morningstar. For each retail mutual fund with at least a three-year history, Morningstar calculates a Morningstar Rating based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund’s monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. (Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages.) The Overall Morningstar Rating for a retail mutual fund is derived from a weighted average of the performance figures associated with its three-, five- and 10-year (if applicable) Morningstar Rating metrics. This investment’s independent Morningstar Rating metric is then compared against the retail mutual fund universe breakpoints to determine its hypothetical rating. 
© 2016 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.
Ratings are based on past performance data and represents past performance, which does not guarantee future results.
© 2017 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.
The Morningstar RatingTM for funds, or “star rating”, is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product’s monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods.

Morningstar Rankings™ as of 8/31/2018

Fund Name/
Inception Date
Category
Ranking / Number of funds in the category
Percentile Ranking
1-Year
3-Year
5-Year
10-Year
Value Fund - Investor Class
(05/09/1986)
Large Growth
1416 / 1427
99
1238 / 1251
99
1113 / 1124
99
743 / 812
90
Value Fund- Institutional Class
(05/09/1986)
Large Growth
1412 / 1427
99
1235 / 1251
98
n/a
n/a
Partners Value Fund - Investor Class
(06/01/1983)
Large Growth
1426 / 1427
100
1248 / 1251
100
1118 / 1124
100
717 / 812
86
Partners Value Fund- Institutional Class
(06/01/1983)
Large Growth
1425 / 1427
100
1247 / 1251
100
n/a
n/a
Partners III Opportunity Fund - Investor Class
(06/01/1983)
Long-Short Equity
202 / 275
75
125 / 193
68
63 / 102
61
n/a
Partners III Opportunity Fund - Institutional Class
(06/01/1983)
Long-Short Equity
193 / 275
72
116 / 193
64
51 / 102
50
3 / 27
10
Hickory Fund
(04/01/1993)
Mid-Cap Blend
448 / 457
99
337 / 366
93
323 / 333
98
154 / 229
71
Balanced Fund
(10/01/2003)
Allocation--30% to 50% Equity
79 / 510
15
85 / 435
21
156 / 355
45
25 / 256
12
Core Plus Income Fund - Investor Class
(07/31/2014)
Intermediate-Term Bond
104 / 1035
11
66 / 901
8
n/a
n/a
Core Plus Income Fund- Institutional Class
(07/31/2014)
Intermediate-Term Bond
88 / 1035
9
44 / 901
6
n/a
n/a
Short Duration Income Fund - Investor Class
(12/23/1988)
Short-Term Bond
245 / 524
54
163 / 467
40
129 / 390
40
n/a
Short Duration Income Fund - Institutional Class
(12/23/1988)
Short-Term Bond
189 / 524
41
114 / 467
28
93 / 390
30
45 / 260
19
Nebraska Tax-Free Income Fund
(10/01/1985)
Muni Single State Interm
105 / 153
74
138 / 140
99
138 / 138
100
116 / 117
100
Morningstar Ranking / # of Funds in Category displays the fund's actual rank within its Morningstar Category based on average annual total return and number of Funds in that Category.
The Morningstar Percentile Ranking compares a Fund's Morningstar risk and return scores with all the Funds in the same Category, where 1% = Best and 100% = Worst.
Morningstar Ranking / # of Funds in Category displays the fund's actual rank within its Morningstar Category based on average annual total return and number of Funds in that Category.
The Morningstar Percentile Ranking compares a Fund's Morningstar risk and return scores with all the Funds in the same Category, where 1% = Best and 100% = Worst.