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Comparison snapshot during current crazy market period: SFGIX vs. PRIJX
I see SFGIX has dropped 4.76% from 1/31 to 2/7. I see PRIJX dropped 5.74% in the same time range. SFGIX dropped 17% less than PRIJX. You decide.
I'll edit and throw in another comparison. Schwab's emerging market ETF, SCHE, has dropped 6.9% from 1/31 to 2/7. SFGIX has dropped 31% less than that index ETF.
Jan. 31 through 06 Feb, '18. SFGIX -3.38% PRIJX -3.76% (I do not own this guy.) Did SFGIX do its job of reducing losses in a downward-stretch?
...And from a different planet, my domestic small caps in VSCIX were down by -4.45% in the same period.
Although SFGIX is listed as a Diversified Emerging Markets fund, it holds about 55% in emerging markets with the rest categorized as developed markets. IMHO, it's not a true emerging markets fund with little more than half exposure. PRIJX, however, holds about 72% in emerging markets with the rest in developed markets. This could explain in part the reason for the greater downswing for PRIJX. To me, SFGIX is sort of a back end way of dipping into emerging markets without REALLY getting full exposure to it. I own the fund myself, just to clarify.
Jan. 31 through 06 Feb, '18. SFGIX -3.38% PRIJX -3.76% (I do not own this guy.) Did SFGIX do its job of reducing losses in a downward-stretch?
...And from a different planet, my domestic small caps in VSCIX were down by -4.45% in the same period.
Although SFGIX is listed as a Diversified Emerging Markets fund, it holds about 55% in emerging markets with the rest categorized as developed markets. IMHO, it's not a true emerging markets fund with little more than half exposure. PRIJX, however, holds about 72% in emerging markets with the rest in developed markets. This could explain in part the reason for the greater downswing for PRIJX. To me, SFGIX is sort of a back end way of dipping into emerging markets without REALLY getting full exposure to it. I own the fund myself, just to clarify.
I think this is splitting hairs a bit.
Country Diversification Top 5
VEIVX
China 32.6% Taiwan 14.4% India 11.8% South Africa 7.9% Brazil 7.7%
SFGIX
China/Hong Kong 19% South Korea 18% Taiwan 11% India 10% Brazil 10%
Is South Korea an emerging market?
Is Vanguard Emerging Markets Stock Index Fund, also a "Diversified Emerging Markets Fund", a true emerging markets fund?
If we stick to @Crash's original question and not try and give our reasons for why or how it's different than other EM funds (it of course is - it's suppose to be), there is no splitting hairs.
I believe SFGIX gives good risk adjusted return. That's Foster's mandate. How the management team achieves that has been well described by Foster (see the MFO profile below). So back to crash's question,
Did SFGIX do its job of reducing losses in a downward-stretch?
Heck yeah - so far.
David writes some great fund profiles. The description he wrote in 2013 and updated in 2015 on SFGIX tells exactly how this fund gives great risk adjusted return. And it seems to work as evidence from the last week of market turmoil.
For an older guy like myself heading into retirement who is some what risk adverse, it is a perfect way to "back-end" EM exposure.
Jan. 31 through 06 Feb, '18. SFGIX -3.38% PRIJX -3.76% (I do not own this guy.) Did SFGIX do its job of reducing losses in a downward-stretch?
...And from a different planet, my domestic small caps in VSCIX were down by -4.45% in the same period.
Although SFGIX is listed as a Diversified Emerging Markets fund, it holds about 55% in emerging markets with the rest categorized as developed markets. IMHO, it's not a true emerging markets fund with little more than half exposure. PRIJX, however, holds about 72% in emerging markets with the rest in developed markets. This could explain in part the reason for the greater downswing for PRIJX. To me, SFGIX is sort of a back end way of dipping into emerging markets without REALLY getting full exposure to it. I own the fund myself, just to clarify.
I think this is splitting hairs a bit.
Country Diversification Top 5
VEIVX
China 32.6% Taiwan 14.4% India 11.8% South Africa 7.9% Brazil 7.7%
SFGIX
China/Hong Kong 19% South Korea 18% Taiwan 11% India 10% Brazil 10%
Is South Korea an emerging market?
Is Vanguard Emerging Markets Stock Index Fund, also a "Diversified Emerging Markets Fund", a true emerging markets fund?
Mona
Not splitting hairs at all; just looking at the facts as shown on *M. The MSCI EM benchmark is 70 EM and 30 DM. Currently, Foster is below that benchmark at 55 EM, hence the possible reason for lower volatility. I believe @BobC mentioned this very issue in July.
As other noted here that SFGIX held up better during the wild swing of the last several days. The other fund I am watching is MAPIX which is Asia-focus fund and has sizable exposure to China/Hong Kong as well.
Comments
I'll edit and throw in another comparison. Schwab's emerging market ETF, SCHE, has dropped 6.9% from 1/31 to 2/7. SFGIX has dropped 31% less than that index ETF.
Country Diversification Top 5
VEIVX
China 32.6%
Taiwan 14.4%
India 11.8%
South Africa 7.9%
Brazil 7.7%
SFGIX
China/Hong Kong 19%
South Korea 18%
Taiwan 11%
India 10%
Brazil 10%
Is South Korea an emerging market?
Is Vanguard Emerging Markets Stock Index Fund, also a "Diversified Emerging Markets Fund", a true emerging markets fund?
Mona
I believe SFGIX gives good risk adjusted return. That's Foster's mandate. How the management team achieves that has been well described by Foster (see the MFO profile below). So back to crash's question, Heck yeah - so far.
David writes some great fund profiles. The description he wrote in 2013 and updated in 2015 on SFGIX tells exactly how this fund gives great risk adjusted return. And it seems to work as evidence from the last week of market turmoil.
For an older guy like myself heading into retirement who is some what risk adverse, it is a perfect way to "back-end" EM exposure.
https://www.mutualfundobserver.com/?s=sfgix
As other noted here that SFGIX held up better during the wild swing of the last several days. The other fund I am watching is MAPIX which is Asia-focus fund and has sizable exposure to China/Hong Kong as well.