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Alternative to Artisan International Value (ARTKX)?
Good comment, @mrc70; FMIJX is a fairly reasonable alternative, if not as compelling. It is currency hedged. FMI at some point launched an essentially identical version of the fund that doesn't hedge currency (FMIFX), but its AUM is a tiny fraction of the original.
FMIJX is my international fund for the last decade. To me it is a sleep easy fund. It has a value tilt so probably not in vogue over the past few years, but I still believe over a cycle it will do well.
FWIW, my experience with the Artisan EM fund, ARTYX was not good for me. A closed fund that had an extraordinary return versus peers. When it re-opened, I sold SFGIX and bought that fund. I thought I was making a smart move. It turned out to be a roller coaster where I lost a lot of money with. It was a very volatile fund, which would make me think ARTKX would be too. I sold and moved that money to RNWOX which is more in the SFGIX mantra.
Over the long haul, if you can stick with it, Artisan is probably a good choice, as long as you can take the roller coaster ride in investing. Good luck with your decision.
@MikeM, you're right that FMIJX has been less volatile long term than either ARTYX or ARTKX, but keep in mind that all Artisan funds aren't alike. Some basic stats, ARTYX vs. ARTKX:
ARTYX: SD 27.7, Avg/Hi return:risk in category, negative alpha.
ARTKX: SD 18.6, Hi/Avg return:risk in category, alpha of +8.
I'd be careful with MATFX. It's basically an asia tech fund, the prevoius name of the fund was actually asia science and technology. As a tech focused growth fund, it got hit pretty bad over the last 3 years.
I'd also be leary of Matthews. This is a well covered topic on here (do a quick search on here), but they've lost a ton of very talented portfolio managers in the past few years and assets have plunged due seemingly to poor management. They are not the firm they once were, that's for sure.
I’ve owned ARTKX for 13 years, and it’s my only foreign fund that hasn’t disappointed. I’ve diversified into other foreign funds over the years and haven’t found anything that compares. However, if I wasn’t able to invest in ARTKX and wanted a foreign fund, I would consider FMIJX and FIVFX. The two in tandem would provide a good balance between growth and value.
I’ve been scaling back on foreign funds, however, because of their long term underperformance. I know investing runs in cycles, but I’m afraid I’ll be dead before foreign stocks pay off. I’ve still got about one-fourth of my stocks in foreign funds, so I’ll get some benefit if they ever outperform. I suspect that there are systemic reasons why foreign stocks continue to disappoint and that their lower valuations are probably justified.
Several Matthews Asia funds were mentioned. I personally would stay away from all Matthews Asia funds in the near-term (possibly long-term). There has been an exodus of talent at the firm over the past few years.
If staying with funds available in Vanguard is a priority, I like VWICX. It doesn't have a lot of history but it is run by Wellington and it has a value slant like ARTKX.
I hold DIVI for international LCV coverage. It’s done very well compared to its peers in 21, 22 and this year. Recent performance is more meaningful because the fund changed during this period to a M* index, the Morningstar® Developed Markets ex-North America Dividend Enhanced Select IndexSM.
Comments
FWIW, my experience with the Artisan EM fund, ARTYX was not good for me. A closed fund that had an extraordinary return versus peers. When it re-opened, I sold SFGIX and bought that fund. I thought I was making a smart move. It turned out to be a roller coaster where I lost a lot of money with. It was a very volatile fund, which would make me think ARTKX would be too. I sold and moved that money to RNWOX which is more in the SFGIX mantra.
Over the long haul, if you can stick with it, Artisan is probably a good choice, as long as you can take the roller coaster ride in investing. Good luck with your decision.
ARTYX: SD 27.7, Avg/Hi return:risk in category, negative alpha.
ARTKX: SD 18.6, Hi/Avg return:risk in category, alpha of +8.
I'd also be leary of Matthews. This is a well covered topic on here (do a quick search on here), but they've lost a ton of very talented portfolio managers in the past few years and assets have plunged due seemingly to poor management. They are not the firm they once were, that's for sure.
I’ve been scaling back on foreign funds, however, because of their long term underperformance. I know investing runs in cycles, but I’m afraid I’ll be dead before foreign stocks pay off. I’ve still got about one-fourth of my stocks in foreign funds, so I’ll get some benefit if they ever outperform. I suspect that there are systemic reasons why foreign stocks continue to disappoint and that their lower valuations are probably justified.
@randynevin. Look at DODWX. It is global, not strictly international. Great track record.
https://www.morningstar.com/funds/xnas/dodwx/quote