Compare the boxes of a Morningstar style grid to the boxes of a Lipper style grid

The Morningstar and Lipper style grids both group funds by investment style into competitive universes, or peer groups, based on historical fund holdings. (Note: Lipper also has peer groups based on investment objectives, discussed above in question three). Both of these style grids apply to U.S. general equity funds and compare a subset of these funds to a focused set of peers that are operating in the same segment of the stock market (known as the box). Both are based on actual fund holdings, as opposed to a fund's investment objectives. In both systems, the funds in any style box can change relatively quickly (for example, if a fund acquires new holdings or if the price of existing holdings rises sharply).
Morningstar has a nine-box style grid that classifies funds by large, medium or small market capitalization and by value, growth or blend within each capitalization classification. Lipper has a 12-box style grid that classifies fund by market capitalization (large, multi, mid or small cap) and by investment style (value, growth or core).
Some differences between the two schemes include: Lipper has a 12-box style grid, while Morningstar has a 9-box style grid. Lipper's multi cap classification encompasses funds that do not fall clearly into either large cap or mid cap (a fund in the multi cap classification has less than 75% of its assets in either large cap or mid cap holdings). In addition, Lipper ranks funds two ways -- within the four market capitalization rows (called supergroups) that include all investment styles for that market capitalization, as well as within the twelve narrower boxes that each reflect a combination of one market capitalization and one investment style. Morningstar and Lipper use different measures for the market capitalization row determinations. Morningstar uses a tiered approach based on 5,000 stocks, while Lipper uses a sample of securities in the S&P 1500 index (the index combines the S&P 500, the S&P MidCap 400 and the S&P Small Cap 600).