An equity fund is an aggregation of individual equities and its style is determined by the style assignments of the equities it owns. By plotting all of a fund's equities on the equity style grid, the range of equity styles included in the fund immediately becomes apparent. An asset-weighted average of the underlying equities' style and size scores determines a fund's placement in the Style Box.
Style box assignments for equities are updated each month. Assignments for funds are recalculated whenever Morningstar receives updated portfolio holdings for the fund.
