Beyond Morningstar: Seven Other Great Fund Web Sites

For mutual fund investors looking to use the Web to take a closer look at their investments, Morningstar is a great place to start -- but you don't have to end there.

Sure, the Chicago-based mutual fund tracker's highly regarded site offers its star rating system, independent analyst commentary, reams of data and research on thousands of funds. But it's not the only place: The Web offers several great sites with online commentary, research and tools that can help investors get their fund portfolios in order. Also, Morningstar now charges for some of its premium content, so there's no completely free lunch at the enormous site these days.

Here's a look at eight Web sites, outside of Morningstar (and TheStreet.com), that investors would be wise to bookmark. The best thing: Unless otherwise noted, it's all free.

Getting Started

Investment Company Institute -- For anyone who wants a general overview of the mutual fund universe, there's no better site than ICI, which is jampacked with information and research. While it may not be as easy to understand and navigate as the Fool, ICI's site is a great way to keep an eye on broad industry trends and how the latest government regulations could impact your investments. The lone downside: Some of the stories, such as one highlighting the fact that half of all Americans own a mutual fund, are more industry fare and have little to do with making better investment decisions.

Sites That Tell It Like It Is

New Year's Resolutions for Fund Investors Repeat after me: I will not chase performance or hot managers. I will keep expenses down and invest in an index fund.

Roger McNamee Says the Consumer Tech Will Remain King in 2003 Integral Capital's cofounder says tech may face more hard times in 2003 -- but he sees some big winners.

FundAlarm.com -- Sometimes you just want someone to tell you when to dump the turkeys and cut through all the spin from mutual fund companies. Roy Weitz, certified financial planner and one-man band behind FundAlarm.com, is that type of guy. The cornerstone of the site is Weitz's pull-no-punches commentary, which recaps important news and events in the mutual fund world. In a refreshing change of pace, FundAlarm.com is free, independent and willing to tell readers when to sell underperforming funds, providing a searchable database that tracks performance. The site also regularly highlights recent management changes, so fund owners can see when someone new is at the wheel -- information that doesn't always make the major dailies. While FundAlarm doesn't update nearly as much as it should, it sports an active message board whose chatter tends to be intelligent, not belligerent.

FundAdvice.com -- Paul Merriman, president of Merriman Capital Management, is the editor and publisher of FundAdvice.com, where he shares lessons learned over decades of running funds and writing books on investing. Merriman is the star of this site, advising investors on how to properly time the market through the use of his proprietary market-timing indicators. While he may be guilty of shilling his funds, books and radio appearances a bit too much, Merriman is straightforward with his commentary, which is fair and clearly written. In one recent article, he critiqued a Morningstar story that maintained the market is impossible to time, but then invited the author to respond back, so readers could judge for themselves. As with many small, independent sites, FundAdvice suffers from sorry design and doesn't update enough, but what's there provides an interesting supplement to mainstream commentary.