TheStreet.com ratings take into account both the performance and volatility of a company's stock, so when markets are in turmoil there are bound to be changes.

Here's a look at how our top-20 rated closed-end funds and exchange-traded funds fared during the tumultuous month of February.

As the charts below illustrate, they did relatively well in February.

For purposes of comparison, we have separated the funds with a track record of greater than three years from younger funds with less than a three-year track record. (We rate closed-end funds and ETFs with a track record of at least 12 months.)

Most of the older funds are ETFs from Barclays iShares, but two are closed-end funds -- Mexico Fund ( MXF) and MVC Capital ( MVC).

A further distinction is that all but one of the older top-rated funds invest overseas, with the exception of MVC Capital.

MVC is a business development company that provides long-term equity and debt investment capital to fund growth, acquisitions and recapitalizations of small and middle-market companies.

Top-Rated Older Funds as of End of February 2007
28-Feb-07 1 Month Return 6 Month Return 3 Year Return
iShares MSCI Spain - EWP 4.59 27.81 25.98
MVC Capital - MVC 28.35 29.08
iShares MSCI Singapore - EWS 8.04 44.37 28.74
iShares MSCI Pacific ex-Japan - EPP 6.63 28.13 24.5
iShares MSCI Australia - EWA 9.26 28.48 27.4
iShares MSCI Germany - EWG 6.78 24.99 22.33
iShares S&P Europe 350 - IEV 3.74 17.41 19.67
iShares MSCI EMU - EZU 4.78 20.34 21.37
iShares MSCI France - EWQ 4.08 15.94 19.95
iShares MSCI Malaysia - EWM 9.79 47.52 18.5
Source: TheStreet.com Ratings

Below is the list of the top 10 rated "younger" funds, the composition of which varies notably from that of the older funds above. If we look in the "type" column, we see that there is more of an eclectic group compared with the more established funds. Included on the list are a couple of mid-cap funds, a large value fund, a defense fund and a utility fund.

Top-Rated Younger Funds as of End of February 2007
28-Feb-07 1 Month Return 6 Month Return Type
iShares MSCI EAFE Value - EFV 4.41 17.74 Int'l
Vanguard Telecom Serv ETF - VOX 2.33 22.42 Income
Vanguard European ETF - VGK 4.07 18.56 Int'l
PowerShares Dynamic Mid Cap Value - PWP 6.15 20.66 Growth
BlackRock S&P Qual Rkg Glob Eq Mgd - BQY 1.71 18.43 Growth
iShares Morningstar Mid Value - JKI 5.07 19.01 Growth
PowerShares Intl Dividend Ach - PID 2.71 16.44 Int'l
Gabelli Global Utility&Income Trust - GLU 0.93 19.55 Util.
PowerShares Aerospace & Defense - PPA 5.48 21.56 Income
iShares Morningstar Large Value - JKF 1.97 10.27 Income
Source: TheStreet.com Ratings
Sam Patel, CFA, is the manager of mutual fund research for the TheStreet.com Ratings.

In keeping with TSC's Investment Policy, employees of TheStreet.com Ratings with access to pre-publication ratings data must pre-clear any potential trade through the legal department, and are prohibited from trading any security that is the subject of an unpublished rating revision until the second business day after the rating is published.

While Patel cannot provide investment advice or recommendations, he appreciates your feedback; click here to send him an email.

If you liked this article you might like

Goldman Buoyed by International Funds

Goldman Buoyed by International Funds

Improved Returns Cast Mirage on ETF Market

Improved Returns Cast Mirage on ETF Market

Where There's Yield, There's Risk

Where There's Yield, There's Risk

Short Stock Funds Clean Up

Short Stock Funds Clean Up

Few Standout Returns in November's Top Closed-End Funds

Few Standout Returns in November's Top Closed-End Funds