Investment objective & strategy
As of Dec. 22, 2025 · prospectusObjective. The fund seeks long-term growth of capital through investments in the common stocks of non-U.S. companies.
Strategy. The fund normally invests at least 80% of its net assets (plus any borrowings for investment purposes) in non-U.S. stocks. The fund relies on MSCI Inc., a third-party provider of benchmark indexes and data services, or another unaffiliated data provider to determine the country assigned to a security. Any derivatives that provide exposure to the investment focus suggested by the funds name, or to one or more market risk factors associated with the investment focus suggested by the funds name, are counted (as applicable) toward compliance with the funds 80% investment policy. The fund expects to invest significantly outside the U.S. and to diversify broadly among developed markets and, to a lesser extent, emerging market countries throughout the world. In … The fund normally invests at least 80% of its net assets (plus any borrowings for investment purposes) in non-U.S. stocks. The fund relies on MSCI Inc., a third-party provider of benchmark indexes and data services, or another unaffiliated data provider to determine the country assigned to a security. Any derivatives that provide exposure to the investment focus suggested by the funds name, or to one or more market risk factors associated with the investment focus suggested by the funds name, are counted (as applicable) toward compliance with the funds 80% investment policy. The fund expects to invest significantly outside the U.S. and to diversify broadly among developed markets and, to a lesser extent, emerging market countries throughout the world. In addition, the fund typically invests at least 65% of its net assets in stocks of large-cap companies. The fund takes a core approach to stock selection, which does not emphasize either growth or value styles of investing. The adviser relies on a global research team to search for particularly promising stocks. The adviser selects stocks it believes have the most favorable combination of company fundamentals and valuation. In selecting investments, the adviser generally favors companies with one or more of the following characteristics: ? attractive business niche with potential for earnings growth; ? attractive valuation relative to the companys peers or its own historical norm; ? barriers to entry in its business; ? seasoned management; ? healthy balance sheet; and ? potential to grow dividends or conduct share repurchases. The fund typically has significant investments in developed European countries, as well as Japan and select other developed countries. At times, the fund may have a significant portion of its assets invested in the same economic sector, such as the financial sector.
Top holdings
As of Jan. 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| ASML Holding NV | — | $739.96M | 2.89% |
| SIEMENS AG-REG | — | $703.94M | 2.75% |
| UNILEVER PLC | — | $532.70M | 2.08% |
| ASTRAZENECA PLC SPONS ADR | — | $512.97M | 2.00% |
| TSMC | — | $488.88M | 1.91% |
| ROCHE HOLDINGS AG (GENUSSCHEINE) | — | $440.22M | 1.72% |
| NESTLE SA (REG) | — | $411.61M | 1.61% |
| TOTALENERGIES SE | — | $387.72M | 1.51% |
| MITSUBISHI UFJ F | — | $362.33M | 1.41% |
| Novartis AG (Registered) | NVSEF | $361.54M | 1.41% |
Portfolio moves
Oct 31, 2025 → Jan 31, 2026How many positions this fund opened, exited, grew, trimmed, or left unchanged between its two most recent N-PORT snapshots — net changes between point-in-time reports, not a trade log.
Similar funds
Funds whose portfolios most overlap this one, by weight| Fund | Overlap | Net exp. |
|---|---|---|
| SA Multi-Managed International Equity Portfolio | 52% | 1.04% |
| T. Rowe Price International Value Equity Fund · TRIGX, PAIGX, RRIGX, TRTIX, TROZX | 43% | 0.00% |
| JPMorgan International Hedged Equity Laddered Overlay ETF · HOLA | 39% | 0.50% |
Advisers
| Firm | Role |
|---|---|
| T. Rowe Price Associates, Inc. | Adviser |
| T. Rowe Price International Ltd | Sub-adviser |
Footnotes
- Expense ratio as of December 22, 2025, from the fund's prospectus.
- Net assets and holdings count as of January 31, 2026, from the fund's N-PORT filing.
- Total return for calendar year 2025, before tax and after fund expenses. Computed by compounding the twelve monthly total returns the fund reported in its SEC N-PORT filings for 2025 (the latest prospectus does not yet chart this year).
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