What is a Lipper ranking and a Lipper category average?
A. A Lipper ranking refers to the arithmetic ranking of a fund’s relative yield or total return performance relative to its peers within a specific category, while a Lipper category average expresses the average yield or total return performance of all funds in the Lipper category. Lipper Inc. is a leading provider of investment company data. Rankings are indicators of how a fund is performing compared to the total of the funds in its category while the average can be used as a more broad-based measure to compare fund performance to an average of its peers.