The long-charging bull market has lifted the fortunes of U.S. stock indexes and created challenges for active managers, but Chicago-based Morningstar has identified four domestic stock managers whose funds excelled throughout 2017.

In naming its 2017 Morningstar Domestic Stock Fund Manager of the Year nominees, Morningstar emphasized that careful choices enabled managers to far exceed the impressive returns offered by indexes like the S&P 500, which exceeded 21.8 percent for the year.

According to Morningstar, this year’s four finalists have “navigated geopolitical challenges…, high valuations often belied by only modestly improving earnings and increasing debt, and a rising market tide that lifted almost all boats regardless of quality.”

Nominees must manage funds with Morningstar Analyst Ratings of gold or silver, and must have impressive returns on an absolute, relative and risk-adjusted basis over the calendar year and over their tenures.

Morningstar gives preference to managers who have served at least five years at the helm of their funds.

The 2017 Domestic Stock Fund Manager of the Year nominees are:

• Steven Wymer, manager of the Fidelity Growth Company fund (FDGRX). In 2017, FDGRX offered investors 36.8 percent returns. The fund performed in the 95th percentile of domestic stock mutual funds.
• Larry Puglia, manager of the T. Rowe Price Blue Chip Growth fund (TRBCX). In 2017, TRBCX offered investors 36.6 percent returns, good enough to place it in the 94th percentile of domestic stock mutual funds. Morningstar notes that the fund’s large stakes in Amazon, Facebook and Alibaba helped fuel its impressive performance.
• Paul Viera, manager of the Harbor Small Cap Value fund (HASCX). In 2017, HACSX offered investors 21.6 percent returns. Earning a silver analyst rating, the fund ranked in the 98th percentile of small cap value funds.
• Henry Ellenbogen, manager of the T. Rowe Price New Horizons fund (PRNHX). In 2017, PRNHX offered investors 31.5 percent returns. With six years at the helm of PRNHX, Ellenbogen is the shortest-tenured of the nominees, but has led his fund to the 90th percentile of small-cap growth mutual funds.