The three rating websites you listed are all professional rating agencies, and their ratings of funds are relatively objective, unlike ordinary investors who only look at short-term returns when rating funds.
2. When evaluating funds, institutions should evaluate the investment performance, net value fluctuation, risk control and long-term performance of funds from various aspects. For example, Morningstar pays attention to the performance of the fund under the premise of controlling risks, and the long-term operation of the fund can be more favorable in evaluation. Morningstar's fund evaluation is divided into three years and five years, with the star rating of 5- 1 and the 5-star fund as the highest evaluation.
3. Because the evaluation is based on the past performance and performance, it cannot represent the future performance of the fund. But at least it can explain the operation of the fund in the past. If a fund company has more than one 5-star or 4-star fund, it shows that the fund company is well managed and has strong risk control ability.