In my opinion, the real risk to KGIRX isn't its emerging markets exposure, but its exposure to gold/precious metals and energy stocks, which depending on how you look at it account for 40% to 50% of its portfolio. The manager has always been a big fan of these sectors and when they do well, the fund does well and when they don't, it doesn't.

My point with those funds (which do make an interesting list) is that value simply hasn't performed as well as blend, let alone growth. Lewis made this point as well in asking whether you were disappointed with the fund or with value in general.
KGIRX was not a fund I was familiar with. Something to note about it is that unlike most of the other better performing foreign LCV funds is that it has a large measure of EM. Really large. 43%.
I ran a few searches, and the closer one hews to low risk, foreign LCV, the more similar the performance becomes. For example, one screen was:
Category = foreign large value or foreign large blend
Large Cap Value >= 25%
Large Cap Growth < 10%
Bear market percentile < 50%
YTD return > 0
For me rapid spikes down or up don't matter. Unless one is planning on selling within a small window of time, ISTM that recovery time is more important than how deep a plunge is. Since the 2020 spike (decline) was between January 17 (when the market hadn't risen much YTD) to March 23, it seemed reasonable to look for funds to "break even" over the current year, hence YTD return > 0. (Between 1/17 and 3/23, many funds seemed to have drawdowns of 34% - 35%.)
Not too many funds pass this screen. (Variants include increasing the percentages of both LCG and LCV while keeping a significant difference between the two.) One of the few that did was PRCNX, which led me to believe you were looking for very similar funds.
Another fund that came out of that initial screen (LCV >= 25, LCG < 10) was GSAKX. This sits on the border of value and blend. It wanders along the dividing line; M* called it value in 2019-2020, but blend in the prior three years. It's highly concentrated (34 stocks), and very Eurocentric @ 79% including UK. Its 1/17-3/23 drawdown was 34.5%, just slightly less than VEA's 35.1%.
Changing the screen slightly (LCV >= 35, LCG < 25) gives a few different funds. One is LZIOX. This is a more wide ranging fund from what is generally a value shop. It's generally been blend, though it had a year as a LCG fund and is now LCV. It has a more conventional 70 equities. It has performed respectably, though it too fell 34.6% between 1/17 and 3/23. Over the past three years it has done significantly better than TBGVX.
BRXAX is another fund from this screen. It's been LCV for the past four years, but this year its portfolio is blend and M* has placed in in the blend category. 149 stocks, including a bit more than 20% EM. Likewise, it fell 34.5% between 1/17 and 3/23.
None of these funds is going to set the world on fire. They're lower risk, reasonably performing, relative value funds. In contrast, TBGVX is a "deep-ish value" fund.

Yes, it's all sunshine, sea shells and balloons...until it all comes crashing down as reality sets in..
Absolutely frightening as to how it all mirrors almost exactly all the BS that was going around in the late 90's...new paradigm, you don't understand, new guru's, TAM, total addressable market size, 20 year olds driving Porsche 911's, excuse me now Tesla's, smoking cigars riding around in Limo's, excuse me, Uber Black, blah blah blah.
What do I know though...I spend a lot of time in Silicon Valley back in the mid to late 90;'s...went out to dinner after making sales calls all day to biotech and semi companies...drove around and saw companies with overflowing parking lots...if you called on Applied Materials you had to park 3 blocks down the street to find parking, some engineers had their desks in old closets as that is the only place they had room...all kind of jobs, folks making things, designing things....now?
Oh, what's that, the fund is down 83% in 5 months, you don't say? Get your popcorn ready, the show is going to be epic!
Merry Christmas, Good health and Good luck to all,
Baseball_Fan

Waiting to "buy the dips" (the strategy to wait for a 10% peak-to-trough loss before buying, then holding for at least 12 months or until the drawdown threshold is exceeded before returning to cash) doesn't work verses Just "Buy and Hold":

Linked Article:
reasons-why-you-shouldnt-wait-for-the-stock-market-to-crash

@msf. agreed- Several great ideas ! ( thanks ) and I think it has gotten a bit confusing because....
1. I asked to consider a "global blend manager" in the hopes that might put the decision making between Value & growth in the hands of the manager. Perhaps that is not the smartest way to gain the exposure that I think I need. As I stated in the opening post - it has been a long wait for the value proposition to kick in. I welcome your comments on the issue of Value vs. Growth at this time
Here are my priorities
2. I am willing to give up on the upside for protection on the downside - so I have been looking at the Sharpe and Martin Ratio, and Max DD in the MFO screener. Is there better process for evaluating the risk ?
3. EM was only referred to because I stated that I was moving on to researching small/mid and EM next/separately - I am not screening it as an alt to TBGVX.
TBGVX is 68% Western Europe 13% U.S (that slug of US probably helped the performance vs. a strict Foreign only fund - ARTKX has outperformed in 1/3/5 years, but as you point out has had steeper MAXDD in 2011 and 2018.
I am already holding MINIX, TBGVX (in a 401k that I did not sell), DFALX that I can't sell due to cap gains in it.
does that add clarity ? Your advice is welcome.

https://institutional.fidelity.com/app/proxy/content?literatureURL=/9898959.PDF
Using the above link, on pages 17 and 18 Fidelity explains the investment process and the portfolio construction parameters of their Disruptive Funds.
...
It also states that FGDFX has "equal weight exposure to the five five Disruptive Funds

Nice find!

People are offering many good fund names. Though they are all over the map, e.g. global, growth (notably Morgan Stanley), EM. High risk, low risk. More clarity on what you're interested in would help.
For example, you are sick of waiting on value, but you're not sure if you want to bail on it totally. You put your five star fund(!) up against an index fund in a different category (foreign large cap blend).
There are only five foreign LCV retail funds that have posted better performance than VEA over the past 1, 3, or 5 years: FIINX, EPDPX, EPIVX, KGIRX, VTRIX. Something has to give: commitment to value or a sense of what constitutes "decent" returns.
Or perhaps it's the demand for low risk that needs to be relaxed. When a fund earns five stars, it's because of risk adjusted performance. That can be achieved either through earning outstanding returns, offering a lot of protection, or a balance of the two. TBGVX's returns have been "only" above average and average, respectively, over the past three and five years. But it still earned 5 stars over three years and 4 stars over five because its risk as calculated by M* was low.
VTRIX is one of the half dozen high performing FLV funds listed above. However, to achieve that it took on more risk - "average" per M*. You can see how the risk played out. Each year in the past decade when it lost money (2011, 2014, 2015, 2018) TBGVX out performed it by 5%-10%.
Note that M* risk is very different from max drawdown. If low drawdown is your sine qua non of risk management, then throw the star ratings out the window, because it barely registers in the calculation.
FWIW, between 10/31/2007 and 3/9/2009, TBGVX lost "only" 50.5%, compared to VTRIX's loss of 59.3%, and VTMGX's loss of 60.6%. (The VEA share class doesn't go back that far.)

One can see this massive dispersion occurring between growth and value applies to emerging markets just as much as in the U.S. if you compare the stats for PRIJX versus ARTYX:
https://morningstar.com/funds/xnas/prijx/portfolio
https://morningstar.com/funds/xnas/artyx/portfolio
In some respects I feel all the issues in the U.S. with e-commerce tech stocks killing everything else and investors being willing to pay exorbitant sums to own them are just exacerbated in these developing nations. In other words, companies like Mercado Libre--Latin America's Amazon--aren't exactly cheap, so ARTYX has an average 51 trailing p-e while PRIJX has a 13 one. Will the trend ever reverse and if so, when? Those are the questions.

If over 55 years of age I would probably chose Vanguard Wellesley even though dealing with Vanguard has become an unpleasant experience. But then I wouldn't invest in only one fund.

@bee VGWLX is 60/30 equity /bonds and of the equity 59.21% U.s. so not what I am looking for . I am looking for the holy grail - Smart international or global manager with decent returns and some downside protection. not heavy with U.S and Faangs as I do not want to increase my exposure there ,

@catch22 - Thanks! Cool site. I wasn't aware that they broke down quotes/data like this.
Trying to stay warm but a winter storm just kicked off about 30 minutes ago. It was about 35 degrees this am when I was out rescuing wholly bear caterpillars off my patio and placing them under a pile of leaves. Just in the nick of time judging by the forecasters and it looks like it's headed your way eventually. Happy Holidays!

@Mark
Agree.
Whatever may be their mindset for how they choose where to be positioned, one has to be impressed with ARK management. ARKG is running circles around similar funds/etfs in the same sector(s).
ARK invest
ADD: A bit of a different data view. Save the site if you choose and place whatever ticker for your viewing. Don't forget the "SEE MORE" clickables near the data info.
Stay warm. A short lived 50 degrees in parts of Michigan right now.
Catch

Since 1988, investing at all time highs of the S & P 500, has been a better strategy:

Article:
investing-in-stocks-at-all-time-highs/
Article on Investing During Market Highs:
what-if-you-only-invested-at-market-peaks

https://institutional.fidelity.com/app/proxy/content?literatureURL=/9898959.PDF
Using the above link, on pages 17 and 18 Fidelity explains the investment process and the portfolio construction parameters of their Disruptive Funds.
Apparently, the PMs meet monthly and on an ad hoc basis to review portfolios, and quarterly an unnamed CIO "challenges PMs on alignment with disruptive themes and overlap across funds".
It also states that FGDFX has "equal weight exposure to the five five Disruptive Funds".
Fred

PRCNX lands in Morningstar's Foreign Large Blend category although its investment style was classified as Foreign Large Value in 2019 and 2020. The fund's trailing 3 Yr. and 5 Yr. returns were average while its risk was below average (according to M*).
The lead manager, Federico Santilli, has also steered RPICX (PRCNX clone) since 07-27-10.
Since inception, RPICX annual returns have been top-quartile in six out of nine calendar years.
The fund's trailing 10 Yr. return was top decile while its risk was low (according to M*).
Here's a snippet of William Rocco's (M*) take on PRCNX published on 11-25-20.
Santilli pursues compellingly priced companies with superior
competitive positions in attractive industries, strong
fundamentals, solid balance sheets, and proven
leadership. While doing so, he invests across the
market-cap and style spectrums, readily allows his
stock selection to lead to atypical country and sector
exposures, and invests in roughly 60-70 stocks while
keeping the largest positions moderate in size. This
approach is sound and distinctive and has an attractive
mix of bolder and tamer traits that provide this fund
with a fighting chance of outperformance without
taking on excessive risk.

I got out of TBGVX many years ago, but that's when it was riding high and hot.
GGSOX Limited history here. "Smid" fund.
FIEUX Europe
...Still ironing-out the Brexit. Once that's in the rearview mirror, I think both UK and the continent might do very well, in reaction. And then there's the Covid stimulus.
FWWFX Worldwide large stocks.
RPGAX Global Allocation, includes bonds.
PRGSX Global Stocks. Right now, it's about 50/50 foreign and domestic.
Almost all my stuff is with TRP, but I don't own these.

It has underperformed BM and VEA 1/3/5/ year. drawdowns only slightly better than the index.
I am looking for a suitable replacement - I will happily give up some of the upside for some protection on the downside
( why I chose TBGX in the first place) . I understand that Value has underperformed, and not giving up on Value. I am all set with International growth. TBGVX is 68% Europe At the moment.
I am thinking a a global Manager with a flexible mandate ?
I have been eyeing PRCNX and some Multicap - any thoughts ?

https://www.sec.gov/Archives/edgar/data/1697196/000158064220004585/acpmi497.htm
497 1 acpmi497.htm 497
AlphaCentric Prime Meridian Income Fund
(the “Fund”)
December 22, 2020
The information in this Supplement amends certain information contained in the Fund’s current Prospectus and Statement of Additional information (“SAI”), each dated April 24, 2020.
______________________________________________________________________________
The Fund’s Board of Trustees approved increases in the minimum purchase requirements for regular accounts from $2,500 to $10,000 and for retirement plan accounts from $1,000 to $10,000.
All references to the minimum investment amounts contained in the Fund’s Prospectus and SAI are hereby revised accordingly.
* * *
You should read this Supplement in conjunction with the Fund’s Prospectus and SAI, which provide information that you should know about the Fund before investing. These documents are available upon request and without charge by calling the Fund toll-free at 1-888-910-0412, or by writing to the Fund at c/o U.S. Bancorp Fund Services, LLC, 615 East Michigan Street, Milwaukee, Wisconsin 53202.
Please retain this Supplement for future reference.

In normal time REITs pay a healthy dividend plus stock appreciation. Through this year's pandemic, the drawdown of the REIT index was 35% in March as shopping malls and hotels were affected badly. The index is still in red but likely to recover after the vaccines are widely distributed to the general population.

Great fund. 8% of my own portfolio. Up 11.35% over 10 years. But it's a CLOSED fund. That won't help anyone who wants to GET IN. ..... The switch does not appear to be sudden. That, at least, is reassuring.