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I'm looking to add an International Small Cap fund to my portfolio, and was looking for any suggestions and/or recommendations. These are what I've considered so far:
Vanguard FTSE All-World ex-US Small Cap Indx (VFSVX or it's ETF counterpart, VSS) Oakmark International Small Cap (OAKEX) LMCG International Small Cap (ISMRX)
Unfortunately Artisan International Small Cap (ARTJX) is now closed.
ISMIX was searchable on M* (I'm assuming ISMRX is just another share class)...good choice
Two choices I like: VINEX...Vanguard, Solid PRIDX (breakdown from @crash)...TRPrice, Solid Japan 21.8% United Kingdom 12.8% China 8.4% Germany 4.4% India 4.2% South Korea 3.9% Spain 3.7% Italy 3.5% France 3.5% Sweden 3.4%
Other Considerations:
HJPSX (100% SC Japan)...great performance at a price (high ER)
DFUKX (Sorry I didn't mean to swear) United Kingdom SC
GISOX is small/mid cap international. I think you might look at it because the excellent Grandeur Peak sm cap int'l (GPIOX) is closed, but you get some of the same managers with the Stalwarts fund. ISMRX is a good choice also. Its record as a MF is limited, but the history of the strategy is available in the "performance" rubric at M*
ISMIX was searchable on M* (I'm assuming ISMRX is just another share class)...seems
Two choices I like: VINEX...Vanguard, Solid PRIDX (breakdown from @crash)...TRPrice, Solid Japan 21.8% United Kingdom 12.8% China 8.4% Germany 4.4% India 4.2% South Korea 3.9% Spain 3.7% Italy 3.5% France 3.5% Sweden 3.4%
Other Considerations:
HJPSX (100% SC Japan)...great performance at a price (high ER)
DFUKX (Sorry I didn't mean to swear) United Kingdom SC
MSMLX (Asia SC - 40% developed, 60% emerging)
Performance Chart comparing ISMRX:
Holy cow, @bee. That Hennessey fund is quite a find!
I agree with Crash (and Bee) that PRIDX seems like a solid, stable fund for long term investing.
I hadn't taken a close look at VINEX in a few years (it had a pretty long poor stretch prior to 2013), but seems to have regained its luster - despite what M* thinks (Neutral rating). As I recall, it was much more value leaning many years ago.
If you're looking for boutique funds, QUSIX (Pear Tree Polaris Foreign Small Cap) has a fine long term record with managers that have been there for nearly a decade. Really low turnover, a healthy dollop of EM (18%), neither concentrated nor spread thin (74 holdings, 13% in top 5). Smaller cap than many of the other funds mentioned. Also value-oriented, which is a bit different than most.
A boutique fund on the growth side that pops out on a screen (don't know much about it) is TCMPX (AMG TimeSquare Int'l Small Cap). Been around four years, low AUM, great returns (and high Sharpe ratio, along with PRIDX and ISMIX).
(M* shows only 161 funds with mid or small cap portfolios that are international; only 158 if one excludes global funds. Rule out the obvious duds and regional funds you may not want, and the pool becomes small enough that one could almost research each one in detail.)
While there are many good choices posted above, I'll throw in SBSIX which can be purchased through Scottrade for an initial minimum of $100.00 plus T/F.
Just over 2 years ago Dr. Snowball opined that "There are three, and only three, great international small cap funds" mutualfundobserver.com/?s=qusox
Two have been mentioned here: GPIOX, which is hard closed but I'd concur that GISOX is about as close as you can get in an open fund, and QUSIX, which I also own and think highly of.
The third was Wasatch International Opportunities, WAIOX, which hasn't been mentioned yet but probably deserves to be.
It would be interesting to know if David would stick by his picks, add any or delete any, but it seems you have quite a few good options in the comments so far.
When this fund opened in 2015, I said I didn't see how Brown Capital could succeed with an international small cap fund, especially given the same managers' tepid performance in the Brown large cap international (BCIIX) fund. However, BCSVX has really taken off in the past year. Maybe they will be a contender. Those MFOers who've loved BCSIX, myself included, might be tempted.
Comments
I own it. This year, it's on fire.
Two choices I like:
VINEX...Vanguard, Solid
PRIDX (breakdown from @crash)...TRPrice, Solid
Japan 21.8%
United Kingdom 12.8%
China 8.4%
Germany 4.4%
India 4.2%
South Korea 3.9%
Spain 3.7%
Italy 3.5%
France 3.5%
Sweden 3.4%
Other Considerations:
HJPSX (100% SC Japan)...great performance at a price (high ER)
DFUKX (Sorry I didn't mean to swear) United Kingdom SC
MSMLX (Asia SC - 40% developed, 60% emerging)
Performance Chart comparing ISMRX:
I hadn't taken a close look at VINEX in a few years (it had a pretty long poor stretch prior to 2013), but seems to have regained its luster - despite what M* thinks (Neutral rating). As I recall, it was much more value leaning many years ago.
If you're looking for boutique funds, QUSIX (Pear Tree Polaris Foreign Small Cap) has a fine long term record with managers that have been there for nearly a decade. Really low turnover, a healthy dollop of EM (18%), neither concentrated nor spread thin (74 holdings, 13% in top 5). Smaller cap than many of the other funds mentioned. Also value-oriented, which is a bit different than most.
A boutique fund on the growth side that pops out on a screen (don't know much about it) is TCMPX (AMG TimeSquare Int'l Small Cap). Been around four years, low AUM, great returns (and high Sharpe ratio, along with PRIDX and ISMIX).
(M* shows only 161 funds with mid or small cap portfolios that are international; only 158 if one excludes global funds. Rule out the obvious duds and regional funds you may not want, and the pool becomes small enough that one could almost research each one in detail.)
Two have been mentioned here: GPIOX, which is hard closed but I'd concur that GISOX is about as close as you can get in an open fund, and QUSIX, which I also own and think highly of.
The third was Wasatch International Opportunities, WAIOX, which hasn't been mentioned yet but probably deserves to be.
It would be interesting to know if David would stick by his picks, add any or delete any, but it seems you have quite a few good options in the comments so far.