Overview
Developed international companies weighted by sales, cash flow and dividends rather than market cap — a systematic value tilt on Europe, Japan and beyond.
Top Holdings
| Ticker | Holding | Weight |
|---|---|---|
| SHEL | Shell plc | 1.9% |
| 7203 | Toyota Motor | 1.8% |
| TTE | TotalEnergies | 1.4% |
| HSBA | HSBC Holdings | 1.3% |
| NESN | Nestlé SA | 1.2% |
| BP | BP plc | 1.1% |
| SAN | Banco Santander | 1.0% |
| ALV | Allianz SE | 1.0% |
| 8306 | Mitsubishi UFJ | 0.9% |
| EQNR | Equinor ASA | 0.8% |
Fund Details
Investment Thesis
International markets are where fundamental weighting has shone brightest — the value factor works better outside the US, and FNDF's tilt toward cash-generating energy majors, banks and industrials delivered a near-40% trailing year as European and Japanese value re-rated. With a 3% yield on top, it is the rare fund where the diversification argument and the recent performance argument point the same way.
Who It's For
Investors who want their international sleeve tilted toward cheap cash flows rather than whatever has already run. Pairs well with a growth-leaning or cap-weighted international core, and suits income-oriented globalists.
10-Year History
| Year | Close | % Chg |
|---|---|---|
| 2016 | $20.81 | -- |
| 2017 | $25.81 | +24.0% |
| 2018 | $21.93 | -15.0% |
| 2019 | $25.66 | +17.0% |
| 2020 | $26.18 | +2.0% |
| 2021 | $29.58 | +13.0% |
| 2022 | $26.33 | -11.0% |
| 2023 | $31.07 | +18.0% |
| 2024 | $32.31 | +4.0% |
| 2025 | $42.00 | +30.0% |
| Year | Yield |
|---|---|
| 2016 | 2.80% |
| 2017 | 2.60% |
| 2018 | 3.10% |
| 2019 | 3.20% |
| 2020 | 2.40% |
| 2021 | 2.90% |
| 2022 | 3.60% |
| 2023 | 3.40% |
| 2024 | 3.30% |
| 2025 | 3.00% |
| Year | AUM | % Chg |
|---|---|---|
| 2016 | $1B | -- |
| 2017 | $3B | +200.0% |
| 2018 | $4B | +33.3% |
| 2019 | $6B | +50.0% |
| 2020 | $6B | +0.0% |
| 2021 | $9B | +50.0% |
| 2022 | $9B | +0.0% |
| 2023 | $11B | +22.2% |
| 2024 | $13B | +18.2% |
| 2025 | $19B | +46.2% |
Historical figures are ETFHub estimates modelled from asset-class return patterns and may differ from official fund records. Data as of August 2026.
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