"With the conversion of a fund, or the opening of ETF shares on an existing fund, you should see the record, the star rating and everything transfer, " said Scott Burns, director of ETF analysis for Morningstar.

WSJ: Fund Track: Fund Companies Jump Into ETFs

The conclusions drawn from such an analysis are to transfer the surplus cash from a conglomerate's cash cows to the stars and the question marks, and to close down or sell off the dogs.

ECONOMIST: Idea