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Favorite Fund Exposure for Europe?

beebee
edited November 2017 in Fund Discussions
Anyone getting giddy on European Funds?

Europe Heading Toward Golden Period:
from-lost-decade-to-golden-years-euro-economy-picks-up-the-pace

To me, a good managed fund navigates these dynamics better than a broad index. Many here are familiar with risk averse FMIJX.

Using a "European only" fund screen shows:
DFA's (DFCSX),
Brown Advisory's (BAHAX) and
Columbia's (CAEZX) all having higher risk adjusted returns (high Sharpe Ratios).

From a fee expense angle the nod goes to (VEURX), but it is an index approach.

PIMCO's USDollar unhedged (PPUDX) has 97% exposure to Developed EU and uses PIMCO's derivative strategies in an attempt to outperform the index. The USDollar hedged version is PPIDX.

T. Rowe Price's (PRIDX) has International Small/Mid Cap exposure splitting itself between Europe/UK (48%) and Japan / Em Asia (45%).

Fidelity's (FSCOX) has a similar approach with a strong convictions towards Japan (33%), Europe (32%) and the UK (19%).

Under performers with high exposure to Europe include:

AAIPX - 4*, (68%/24%) Greater EU / Greater Asia
TRIGX - 3*, (64/32) Greater EU / Greater Asia
LISOX - 3*, (56/30) Greater EU / Greater Asia
BBHLX - 3*, (65/19) Greater EU / Greater Asia, (17%) cash
THGIX - 2*, (62/24) Greater EU / Greater Asia
USIFX - 4*, (62/33) Greater EU / Greater Asia
CIVVX - 4* (65/27) Greater EU / Greater Asia
MQIFX - 4*, (58/37) US/Greater EU
USAWX - 5* (58/39) US/Greater EU
IVFLX - 1* (28/65) US/Greater EU

An interesting World Allocation fund, BBALX, which is divided pretty evenly into thirds-US Equity, Non US equities, and US Bonds- but over weights Non US equities (50/50 Greater EU/Asia) compared to the category.

Comments

  • Art
    Bee, I am using OAKIX, EVGBX.
  • davidrmorandavidrmoran
    hoping for eventual outperformance by DLEUX / DSEUX
  • LLJB
    I'm a fan of QUSOX but its only 50/50 Europe/Asia. I'm also a fan of OBIOX, which is 57% Europe but its hard closed.

    Wouldn't you generally think that most big European companies are global in nature and would not only reflect their global prospects rather than just Europe but would also be pretty highly correlated with US based big multinationals except for currency? It seems like if you really want to "bet" on Europe you have to go smaller but if you want to bet on the Euro then go big.
  • BenWPBenWP
    BCSVX is new, but it is strong out of the gate. 65% developed and developing Europe. The current portfolio has sizable dollops of large caps and mid caps, despite its stated small cap orientation. I am surprised that Brown Capital has done as well as it has with this fund because its other international offering is run-of-the-mill. From what I could glean from their website, no new manager(s) were hired to run this fund. I own some.
  • davidrmorandavidrmoran
    this is 2.5y old but a lot of it still applies, seems to me

    https://www.usatoday.com/story/money/2015/02/27/investing-do-you-want-to-send-your-money-abroad/24077415/
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