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Hulbert Rating


The Hulbert Rating, also known as the Hulbert Financial Digest Honor Roll, is a rating system for financial and investment newsletters. It’s created by Mark Hulbert to measure the performance consistency and risk-adjusted returns of these advisories. The rating allows investors to identify the best long-term performers, considering both bullish and bearish market situations.


The phonetics of the keyword “Hulbert Rating” would be “hʌlbərt reɪtɪŋ”.

Key Takeaways

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  1. Hulbert Ratings is a system that evaluates and ranks the performance of financial newsletters. It has been in operation for over 20 years, providing an unbiased resource for investors.
  2. The Hulbert Ratings tracks the recommendations of over 180 newsletters, creating a comprehensive database of newsletter performance. The system is known for its rigorous, empirical and daily updated approach to measuring the performance.
  3. Through the Hulbert Ratings, subscribers can gain access to essential insights into the track records of each newsletter, aiding them in making investment decisions. The system can help investors to identify which newsletters perform the best, which ones have good long-term records and which ones are currently hot.



The Hulbert Rating is important in the business/finance world because it evaluates and ranks the performance of investment newsletters, providing insights into their accuracy, consistency, and reliability. The rating is based on risk-adjusted performance, meaning it takes into consideration the volatility and potential risks associated with the recommendations made by these newsletters. By rigorously tracking the buying and selling advice of these maintained newsletters over an extended period, Hulbert’s rating system creates a valuable tool for investors seeking guidance. It allows investors to make more informed decisions, reduce risk, and potentially increase their return on investment. Thus, the better a newsletter’s Hulbert Rating, the more reliable its investment advice is considered to be.


The Hulbert Rating primarily serves as a comprehensive measure to gauge the performance and risk of financial newsletters. It is named after Mark Hulbert, the founder of the Hulbert Financial Digest, who wanted to provide investors with a more informed understanding of the value of financial advisories. The rating system is designed to evaluate the effectiveness of a newsletter’s investment advice in terms of risk-adjusted performance. This essentially focuses on how much return can be achieved for a specific level of risk. From a practical perspective, the Hulbert Rating aids investors in making informed decisions about following particular financial newsletters. It provides insights into both historical returns and consistency of performance, helping potential investors determine which advisors have proved reliable and successful over time. The rating isn’t just about highlighting the best performers, but also about identifying those newsletters that have an inconsistent track record, aiding investors to keep a vigilant eye on potential risk. Hence, it is a tool for comparison, guidance, and enlightened investment decision-making.


The Hulbert Rating, or Hulbert Financial Digest, is a rating system for investment newsletters. Thereafter, it serves as an indicator for investors to evaluate the performance of these newsletters over time. Here are three real-world examples:1. The Fidelity Independent Adviser: This is a newsletter that focuses on Fidelity mutual funds and ETFs. As per the Hulbert Rating, this newsletter could be evaluated for its accuracy, consistency, and returns over the long-term to help potential investors to decide whether to follow its advice.2. The Blue Chip Investor: It is another popular financial newsletter that suggests investing in large, well-established, and financially sound companies with a history of reliable earnings. Again, Hulbert Rating can provide an independent assessment that helps potential investors determine the value of this newsletter’s advice.3. The Peter Lynch Growth newsletter: The famous investor Peter Lynch’s investment strategy is applied in this newsletter. It aims to identify companies which are likely to replicate Lynch’s success at the helm of the Magellan Fund. Its credibility and long-term performance can be analyzed using the Hulbert Rating. This can be a reliable assessment for potential subscribers to consider whether it’s worth investing based on its advice.

Frequently Asked Questions(FAQ)

What is Hulbert Rating?

The Hulbert Rating, also known as the Hulbert Financial Digest rating, is a system used to rank the performance of investment newsletters. It was developed by Mark Hulbert and assesses the advice provided by these newsletters based on how profitable their recommendations would have been in real-world conditions.

What is the purpose of the Hulbert Rating?

The Hulbert Rating is used to provide investors with a measure of the reliability and accuracy of investment newsletters. By ranking these newsletters, it helps investors decide which ones worth subscribing to.

How is the Hulbert Rating calculated?

It’s calculated by comparing the recommended portfolio returns to benchmark returns over the same period. It monitors over 160 financial newsletters and calculates projected annualized returns, while factoring in variables like risk and transaction costs.

Is Hulbert Rating the only indicator of a newsletter’s performance?

No, while it’s a valuable tool, it’s not the only resource an investor should use when deciding on investment newsletters. Others include checking past performance, understanding their investment philosophy, and considering subscriber reviews.

How reliable is the Hulbert Rating in indicating future performance?

Like all forms of historical performance metrics, a high Hulbert Rating does not guarantee future success. It’s simply an indication of how well the newsletter’s advice has performed in the past under specific market conditions.

Where can I access Hulbert Ratings?

Hulbert Ratings can be accessed on many online platforms such as Barron’s and MarketWatch. They’re included in a subscription to Hulbert Ratings LLC, which also offers other investing resources.

Is Hulbert Rating applicable only to equities-based investment newsletters?

No, Hulbert Ratings are applied across a wide range of investment newsletters including those focused on bonds, gold, mutual funds, and ETFs, among others.

Do Hulbert Ratings take into consideration the risk factor of recommendations?

Yes, Hulbert Ratings account for risk by using a risk-adjusted performance measurement. This avoids rewarding newsletters that achieve high returns through risky strategies.

Related Finance Terms

  • Investment Newsletter: A publication that provides investors with financial advice and market trends, from which Hulbert Rating often rates the performance.
  • Mark Hulbert: The founder of the Hulbert Financial Digest that tracks and rates the performance of investment newsletters, which the Hulbert Rating is named after.
  • Investment Performance: This is a measure of the returns an investment generates over a period of time, which the Hulbert Ratings system evaluates.
  • Annualized Return: A calculation of investment return, adjusted to reflect a return over a one-year period. The Hulbert Rating heavily depends on this measure to rate investment newsletters.
  • Risk-Adjusted Return: This is an investment’s return in relation to the risk it involves. The Hulbert Rating uses this concept to assess the performance and efficiency of investment newsletters.

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