The Fund Grade · free · no account needed
What grade does IFPUX get?
Morningstar rates funds on what they returned. We grade them on where their money sits today: how much of the book overlaps with the converged buys of the top specialist stock pickers.
Fundprints Fund Grade · as of 2026-10-01
Independent Franchise Partners US Equity Fund
#98 of 500 graded active funds · blend · mid segment peer group
The point · specialist footprint
IFPUX puts less of its book behind proven specialists than 67% of graded funds.
Bottom 20%
● Bottom 40%
Middle
Top 40%
Top 20%
That has mattered: over the past 2.7 years, funds with this little specialist backing trailed top-rung funds by about 3.8% per quarter and beat the S&P in only 22% of fund-quarters. If it also charges an active fee, the higher-graded alternatives deserve a look.
10,000+ funds tracked · the graded specialists among them drive every read
The grade scores this fund's specialist share, the slice that overlaps what the top 1% of proven funds are building. We ignore index ballast and names outside our edge on purpose: that slice is small, and it's what decides the outcome.
IFPUX vs the Honor Roll · share card ↗Conviction exposure
13.6%
of the book in specialist-converged names
Late-stage weight
24.1%
of the book in Crowded or Fading names
Active share
97.7%
how far it strays from the index
The best grades have beaten the worst by about +5% a year since we began grading. The gap held in 9 out of 10 months. Measured on filings as they were published, no hindsight.
Inside the book: top names by stage · as of 2026-10-20
We email you the day it crosses 50% crowded, and where you stand every month.
Graded monthly from point-in-time filings. A description of where the money sits, not a recommendation. Evidence, not advice.
The read · what to do with it
IFPUX grades A, ranking 98 of 500 funds, with specialists still building early positions in Philip Morris, TKO Group, and Fox. The concern is real though: AON and Corteva are both fading, together representing nearly 7% of the fund, and Gartner and Zillow sit in crowded trades.
→ Watch the combined 7.1% weight in fading AON and CTVA closely, as specialist exit signals often precede broader selling.
→ The early positions in TKO and FOX are where the fund looks genuinely ahead of consensus, worth tracking their stage progression.
Support leaving these positions
Read from today's disclosed book. Evidence, not advice.