Following a recipe from a trusted chef is a great way to step up your home cooking game. It provides a set of instructions and recommended ingredients, but there’s still room to add your own flair (go ahead, throw that extra garlic in). Model portfolios work the same way. The challenge is finding the right chef’s recipe in the vast pantry of asset managers.
Morningstar Medalist Ratings for model portfolios can provide a useful starting point for navigating the options financial advisors have available. Morningstar assigns Medalist ratings of Gold, Silver, or Bronze to model portfolios when analysts have a strong conviction that the combination of the managing team, their investment process, their firm, and fees positions the portfolio to outperform its peers and its Morningstar category benchmark on a risk-adjusted basis over a full market cycle of five to 10 years.
Top Chefs: The Top-Rated Allocation Model Portfolios
The table below highlights allocation model portfolio series with 100% analyst coverage that earn Morningstar Medalist Ratings of Gold, as of June 2025. It also shows the analyst-assigned People, Process, and Parent Pillar ratings, plus the average asset-weighted fee of the underlying funds.
American Funds and BlackRock have each built standout model portfolios that earn Morningstar’s highest Medalist Rating. Both firms offer well-diversified strategies designed to keep risk in check without sacrificing returns, though each brings its own approach to the table.
American Funds structures its models around clear investor goals like growth, income, and capital preservation. The framework is intuitive, allowing managers to tilt toward different objectives as conditions change. But the real strength lies in the underlying funds. These are high-quality, time-tested ingredients that give these portfolios their distinctive character. For example, all 11 funds in the American Funds Growth and Income model held Morningstar Medalist Ratings of Gold, Silver, or Bronze as of June 30, 2025; a rare distinction for a model built entirely from active strategies.
BlackRock takes a more dynamic approach. Since launching the model portfolio business in 2014, Michael Gates has led the development of a platform now followed by more than $200 billion in advisor assets. As the US head of the model portfolio group, Gates emphasizes a disciplined asset-allocation process, with room for tactical flexibility, continually refining the mix to stay responsive to market opportunities.
The firm’s flagship Target Allocation ETF Model Portfolio series includes 11 portfolios ranging from 100% equity to 100% fixed income in 10% increments. Each is built with its own purpose, rather than simply scaling a single model up or down. These portfolios tend to be more active than American Funds’ models, but Gates and his team have shown a strong sense for when and how to adjust, like increasing energy and commodity exposure in mid-2021, then locking in gains a year later.
Both approaches offer carefully constructed models backed by experienced teams and consistent execution. Whether you prefer a more traditional strategy or one that makes selective, more frequent, and timely adjustments, these models deliver results.
How Does Your 60/40 Portfolio Compare to the Pros?
The Silver Platter: Allocation Model Portfolios with Silver Ratings
The table below highlights allocation model portfolio series with 100% analyst coverage that earn Morningstar Medalist Ratings of Silver, as of June 2025. It also shows the analyst-assigned People, Process, and Parent Pillar ratings, plus the average asset-weighted fee of the underlying funds.
Vanguard and Dimensional offer model portfolios that stay true to each firm’s core investment philosophy. Their disciplined construction and low costs provide a solid foundation for long-term results.
Vanguard’s Core model portfolio series comes in several variations to suit investor preferences, particularly around index providers. These globally diversified portfolios allocate 60% of equities to US stocks and 40% to international markets. On the bond side, the split is 70% US and 30% international, creating an efficient and well-balanced mix.
Other Vanguard models that earn Silver Medalist Ratings follow a similar structure but include more underlying funds. For example, the Vanguard CRSP 60/40 model includes 10 exchange-traded funds, compared with just four in the Core version. The additional line items allow for greater customization and can support strategies like tax-loss harvesting while still adhering to Vanguard’s straightforward, cost-conscious approach.
Dimensional’s model portfolios reflect the firm’s long-standing belief in factor-based investing. These portfolios tend to shine when smaller, cheaper, and more profitable stocks lead the market but can still keep the lights on when other factors are winning. The bond portfolios are built based on the model’s stock exposure. Portfolios with more stocks typically include longer-duration bonds. That approach has historically provided a cushion during equity market volatility, with 2022 being a notable exception, and in today’s higher-rate environment, it may be well positioned to add value going forward.
2 New and Notable Model Portfolio Series
Allocation Model Portfolios: The Best of the Rest
The table below highlights allocation model portfolio series with 100% analyst coverage that earn Morningstar Medalist Ratings of Bronze, as of June 2025. It also shows the analyst-assigned People, Process, and Parent Pillar ratings, plus the average asset-weighted fee of the underlying funds.
Assets following third-party model portfolios totaled almost $650 billion at the end of March 31, 2025, up 62% from June 2023. Our recently published 2025 US Model Portfolio Landscape delves into the drivers behind the industry’s asset growth and makeup, product development trends, and areas of increased emphasis for the future, like customization and adding private markets.