The University of Michigan fared better in a newly released list of world university rankings than it did on the closely watched U.S. News & World Report annual Best Colleges ranking.

U-M comes in at No. 15 in the QS World University rankings, improving from 19 on last year's list.

Cambridge displaced longtime No. 1 Harvard University, which dropped to No. 2 on the list.

University of Michigan spokesman Rick Fitzgerald said it's always gratifying to be ranked among the best colleges and universities but "rankings are never the best way for a student to pick a university."

Daniel de Vise of the Washington Post writes that the rankings are similar to the U.S. News rankings but rely more heavily on a peer rating. 

"The QS peer review makes up 40 percent of the school's score," de Vise wrote. "Half, if you count an additional rating by employers and recruiters. That method probably favors better-known universities: schools that are larger, have a stronger international presence and competitive sports teams."

He notes that the University of Maryland in College Park fares better on this list than the University of Virginia, while U-Va. fared much better than Maryland on the U.S. News list.