MORN vs. FDS
MORN (Morningstar, Inc.) and FDS (FactSet Research Systems Inc.) are both stocks. Both operate in the Financial Data & Stock Exchanges industry within the Financial Services sector. Over the past 10 years, MORN returned 8.15%/yr vs 5.31%/yr for FDS. At a 0.48 correlation, their price movements are largely independent.
Performance
MORN vs. FDS - Performance Comparison
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Returns By Period
In the year-to-date period, MORN achieves a -20.30% return, which is significantly lower than FDS's -10.97% return. Over the past 10 years, MORN has outperformed FDS with an annualized return of 8.15%, while FDS has yielded a comparatively lower 5.31% annualized return.
MORN
- 1D
- -0.42%
- 1M
- 12.10%
- 6M
- -19.22%
- YTD
- -20.30%
- 1Y
- -39.85%
- 3Y*
- -6.36%
- 5Y*
- -6.83%
- 10Y*
- 8.15%
- ALL TIME*
- 11.68%
FDS
- 1D
- -0.89%
- 1M
- 15.59%
- 6M
- -10.48%
- YTD
- -10.97%
- 1Y
- -39.82%
- 3Y*
- -15.03%
- 5Y*
- -4.57%
- 10Y*
- 5.31%
- ALL TIME*
- 15.33%
MORN vs. FDS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MORN Morningstar, Inc. | -20.30% | -35.05% | 18.29% | 33.10% | -36.31% | 48.23% | 54.54% | 38.93% | 14.34% | 33.38% |
FDS FactSet Research Systems Inc. | -10.97% | -38.88% | 1.62% | 19.99% | -16.75% | 47.49% | 25.13% | 35.51% | 5.02% | 19.44% |
Correlation
The correlation between MORN and FDS is 0.71, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.71 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.60 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.63 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.55 |
Correlation (All Time) Calculated using the full available price history since May 3, 2005 | 0.48 |
Over the past year, MORN and FDS have become more correlated (0.71) than their long-term average of 0.48, meaning their price movements have been converging.
Fundamentals
MORN:
$6.53B
FDS:
$9.10B
MORN:
$9.86
FDS:
$15.11
MORN:
17.43
FDS:
16.92
MORN:
0.35
FDS:
1.58
MORN:
2.80
FDS:
3.93
MORN:
6.63
FDS:
4.65
MORN:
$2.51B
FDS:
$2.44B
MORN:
$1.55B
FDS:
$1.25B
MORN:
$743.90M
FDS:
$690.67M
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Return for Risk
MORN vs. FDS — Risk / Return Rank
MORN
FDS
MORN vs. FDS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Morningstar, Inc. (MORN) and FactSet Research Systems Inc. (FDS). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| MORN | FDS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.16 | ||
| Sortino ratioReturn per unit of downside risk | -0.28 | ||
| Omega ratioGain probability vs. loss probability | 0.81 | 0.85 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | -0.80 | -0.73 | -0.07 |
| Martin ratioReturn relative to average drawdown | -1.30 | -1.06 | -0.24 |
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Drawdowns
MORN vs. FDS - Drawdown Comparison
The maximum MORN drawdown since its inception was -67.92%, which is greater than FDS's maximum drawdown of -61.13%. Use the drawdown chart below to compare losses from any high point for MORN and FDS.
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Drawdown Indicators
| MORN | FDS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -67.92% | -61.13% | -6.79% |
Max Drawdown (1Y)Largest decline over 1 year | -50.18% | -54.77% | +4.59% |
Max Drawdown (3Y)Largest decline over 3 years | -60.00% | -61.13% | +1.13% |
Max Drawdown (5Y)Largest decline over 5 years | -60.00% | -61.13% | +1.13% |
Max Drawdown (10Y)Largest decline over 10 years | -60.00% | -61.13% | +1.13% |
Current DrawdownCurrent decline from peak | -51.42% | -47.16% | -4.26% |
Average DrawdownAverage peak-to-trough decline | -18.52% | -13.36% | -5.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 31.14% | 38.77% | -7.63% |
Volatility
MORN vs. FDS - Volatility Comparison
Morningstar, Inc. (MORN) and FactSet Research Systems Inc. (FDS) have volatilities of 16.58% and 17.41%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MORN | FDS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.58% | 17.41% | -0.83% |
Volatility (6M)Calculated over the trailing 6-month period | 34.66% | 38.44% | -3.78% |
Volatility (1Y)Calculated over the trailing 1-year period | 38.25% | 45.02% | -6.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 31.60% | 28.93% | +2.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 28.24% | 28.19% | +0.05% |
Dividends
MORN vs. FDS - Dividend Comparison
MORN's dividend yield for the trailing twelve months is around 1.14%, less than FDS's 1.74% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FDS FactSet Research Systems Inc. | 1.74% | 1.50% | 0.85% | 0.80% | 0.87% | 0.66% | 0.91% | 1.04% | 1.24% | 1.13% | 1.19% | 1.05% |
MORN Morningstar, Inc. | 1.14% | 0.84% | 0.48% | 0.52% | 0.66% | 0.28% | 0.65% | 0.74% | 0.91% | 0.95% | 1.20% | 0.95% |
Financials
MORN vs. FDS - Financials Comparison
This section allows you to compare key financial metrics between Morningstar, Inc. and FactSet Research Systems Inc.. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
MORN vs. FDS - Profitability Comparison
MORN - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jul 2026, Morningstar, Inc. reported a gross profit of 405.90M and revenue of 644.80M. Therefore, the gross margin over that period was 63.0%.
FDS - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jul 2026, FactSet Research Systems Inc. reported a gross profit of 310.73M and revenue of 622.92M. Therefore, the gross margin over that period was 49.9%.
MORN - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jul 2026, Morningstar, Inc. reported an operating income of 900.00K and revenue of 644.80M, resulting in an operating margin of 0.1%.
FDS - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jul 2026, FactSet Research Systems Inc. reported an operating income of 166.30M and revenue of 622.92M, resulting in an operating margin of 26.7%.
MORN - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jul 2026, Morningstar, Inc. reported a net income of 107.10M and revenue of 644.80M, resulting in a net margin of 16.6%.
FDS - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jul 2026, FactSet Research Systems Inc. reported a net income of 126.72M and revenue of 622.92M, resulting in a net margin of 20.3%.
Frequently Asked Questions
MORN and FDS have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FDS has higher volatility (17.41%) compared to MORN (16.58%). In terms of maximum drawdown, MORN dropped -67.92% vs FDS's -61.13%.
FDS currently has the higher Sharpe Ratio (-0.89 vs -1.05), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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