Morningstar recently announced that they will provide rankings and research on ETF managed portfolios later this year.  ETF managed portfolios are primarily separate account strategies that have more than 50% of the portfolio's assets in ETFs.  Morningstar is creating a new, proprietary classification system for ETF managed portfolios based on the following attributes:

• The geographic universe of the underlying ETFs' portfolio securities;
• The type of assets held in the underlying ETFs (e.g., equity or fixed income);
• The type of process used by management to implement a portfolio's strategy; and
• The type of ETF typically used by the portfolio to gain access to its portfolio securities (i.e., broad market, sector, country/region or all inclusive).