Have the rankings been updated?
Here's how Donaire coulda been ranked above Ward before:
1. 2 top 10 p4p wins career wise, 1 last year. Ward had 1 if you wanna give him Froch (never ranked top 10 by the ring)
2. Stepped up to his 4th division
3. A lot more wins over current/former/future champs
No doubt Ward is a better boxer, but boxing skills are not what makes Donaire so tough to beat.