Current performance may be lower or higher than the quoted past performance, which cannot guarantee future results. Share price, principal value, and return will vary, and you may have a gain or loss when you sell your shares. Performance assumes reinvestment of distributions and does not account for taxes. The "before sales charge" performance does not reflect the current maximum sales charges, which we explain below. If performance did reflect the charges, it would be lower. The "after sales charge" performance (or returns at public offering price) varies by share class and fund. For class A and class M shares, the current maximum initial sales charges are 5.75% and 3.50% for equity funds and 4.00% and 3.25% for income funds, respectively (with these exceptions: 2.25% for class A of Putnam Floating Rate Income Fund, Short-Term Municipal Income, Short Duration Bond Fund, Strategic Intermediate Municipal Fund, and Fixed Income Absolute Return Fund). Class B share performance reflects the applicable contingent deferred sales charge (CDSC), which is 5% in the first year, declines to 1% in the sixth year, and is eliminated thereafter (except for Putnam Floating Rate Income Fund, Putnam Short Duration Bond Fund, and Putnam Fixed Income Absolute Return Fund; for these funds, the CDSC is 1% in the first year, declines to 0.5% in the second year, and is eliminated thereafter). Class C share performance reflects a 1% CDSC the first year that is eliminated thereafter. Performance for class B, C, M, N, R, and Y shares prior to their inception is derived from the historical performance of class A shares by adjusting for the applicable sales charge (or CDSC) and, except for class Y shares, the higher operating expenses for such shares (note, for two funds — Putnam Tax-Free High Yield Fund and Putnam Strategic Intermediate Municipal Fund performance prior to inception is based on the historical performance of class B shares). Performance for class A, C, R6, and Y shares of Putnam Mortgage Opportunities Fund before their inception is derived from the historical performance of class I shares, which has been adjusted for the applicable sales charge (or CDSC) and the higher operating expenses for such shares. The "after sales charge" performance (at public offering price) for class N shares reflects the current maximum initial sales charge of 1.50%. Class R, R3, R4, R5, and R6 shares, which are available to qualified employee-benefit plans only, are sold without an initial sales charge and have no CDSC. Class Y shares are generally only available for corporate and institutional clients and have no initial sales charge. Performance for class R3 and R4 shares prior to their inception is derived from the historical performance of class Y shares by adjusting for the higher operating expenses for such shares. Performance for class R5 shares before their inception is derived from the historical performance of class Y shares, which has not been adjusted for the lower expenses; had it been adjusted, performance would be higher (with the exception of the RetirementReady Maturity, 2025, 2030, 2035, and 2040 Funds, for which performance is derived from the historical performance of class R6 shares and has been adjusted for the higher operating expenses for such shares; and the RetirementReady 2045, 2050, 2055, and 2060 Funds, for which performance is derived from the historical performance of class R6 shares and has not been adjusted for the lower expenses; had it been adjusted, performance would be higher). Performance for class R6 shares before their inception is derived from the historical performance of class Y shares, which has not been adjusted for the lower operating expenses; had it been adjusted, performance would be higher. For a portion of the period, some funds had expenses limitations or had been sold on a limited basis with limited assets and expenses. Had these limits not been in place, performance would be lower.
Active Equities
International Capital Opportunities Fund (Class Y) (PIVYX)
Harnessing the potential of international small and midsize companies since 1995
Highlights
Objective
The fund seeks long-term capital appreciation.
Strategy and process
- Quality companiesThe fund invests in developed non-U.S. markets, seeking high-quality small companies believed to be priced at a discount to their intrinsic value.
- Disciplined processThe fundamental research process is designed to find companies that offer a franchise, a cyclically depressed stock price, or transformative business potential.
- Active in an inefficient universeThe managers seek outperformance (alpha) by building a concentrated portfolio differentiated from the benchmark, taking stock-specific risk with a long-term investment horizon.
Fund price and assets |
Yesterday’s close | 52-week high | 52-week low | Net assets and outstanding shares |
|---|---|---|---|---|
| Net asset value |
$32.24
0.31% | $0.10 |
$50.50
09/03/21 |
$32.14
06/30/22 |
Download CSV |
Fund facts as of 05/31/22
$323.61M
36%
Annually
60
August
746802495 / 1850
02/01/00
Blend
PIVYX
Literature
Fund documents |
| Prospectuses/SAI |
| Fact Sheet (R6 share) (PDF) |
| Fact Sheet (YA share) (PDF) |
| Annual Fund Report (PDF) |
| Semiannual Fund Report (PDF) |
| White Paper: Integrated Insights (PDF) |
Why a repeat of the “stagnant ‘70s” is unlikely
Inflation is a challenge, but for many reasons we don't believe financial markets will experience a repeat of the stagnant 1970s.Look beyond dividends for income from value investing
To build a value investment strategy, consider dividends in the context of overall income.War and inflation put bull market in hibernation
Investors may be underestimating the immense range of potential outcomes for the Russia-Ukraine War.Performance
Consistency of positive performance over five years
Performance shown above does not reflect the effects of any sales charges. Click on the dots to see specific returns in each five-year period as of the date revealed. Note that returns of 0.00% are counted as positive periods. For complete fund performance, please see below.
29.08%
Best 5-year annualized return
(for period ending 09/30/07)
-5.09%
Worst 5-year annualized return
(for period ending 06/30/12)
7.72%
Average 5-year annualized return
Total return (%) as of 06/30/22
Annual performance as of 06/30/22
Annualized Total return (%) as of 06/30/22
| Annualized performance | 1 yr. | 3 yrs. | 5 yrs. | 10 yrs. |
|---|---|---|---|---|
| Before sales charge | -22.72% | 2.55% | 3.10% | 5.37% |
| After sales charge | N/A | N/A | N/A | N/A |
| S&P Developed Ex-U.S. SmallCap Index | -24.92% | 1.37% | 1.82% | 6.87% |
Performance snapshot
| Before sales charge | After sales charge | ||
|---|---|---|---|
| 1 mt. as of 06/30/22 | -10.47% | - | |
| YTD as of 07/01/22 | -23.76% | - | |
Risk-adjusted performance as of 05/31/22
| Alpha (3 yrs.) | 0.98 |
|---|---|
| Sharpe ratio (3 yrs.) | 0.36 |
| Treynor ratio (3 yrs.) | 7.69 |
| Information ratio (3 yrs.) | 0.18 |
Volatility as of 05/31/22
| Standard deviation (3 yrs.) | 20.43% |
|---|---|
| Beta | 0.97 |
| R-squared | 0.96 |
Capture ratio as of 05/31/22
| Up-market (3 yrs.) | 101.58 |
|---|---|
| Down-market (3 yrs.) | 99.12 |
Lipper rankings as of 05/31/22
| Time period | Rank/Funds in category | Percentile ranking |
|---|---|---|
| 1 yr. | 56/219 | 26% |
| 3 yrs. | 51/217 | 24% |
| 5 yrs. | 57/188 | 31% |
| 10 yrs. | 86/115 | 75% |
Morningstar Ratings™ as of 05/31/22
| Time period | Funds in category | Morningstar Rating™ |
|---|---|---|
| Overall | 87 | |
| 3 yrs. | 87 | |
| 5 yrs. | 70 | |
| 10 yrs. | 42 |
Distributions
| Record/Ex dividend date | 12/22/21 |
|---|---|
| Payable date | 12/27/21 |
| Income | $0.734 |
| Extra income | -- |
| Short-term cap. gain | $1.578 |
| Long-term cap. gain | $3.469 |
Lipper rankings are based on total return without sales charge relative to all share classes of funds with similar objectives as determined by Lipper. Past performance is not indicative of future results.
The Morningstar RatingTM for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods.
The up-market capture ratio is used to evaluate how well an investment manager performed relative to an index during periods when that index has risen. The ratio is calculated by dividing the manager’s returns by the returns of the index during the up-market, and multiplying that factor by 100. The down-market capture ratio is used to evaluate how well an investment manager performed relative to an index during periods when that index has dropped. The ratio is calculated by dividing the manager’s returns by the returns of the index during the down-market and multiplying that factor by 100.
Holdings
| Cogeco Communications | 3.26% |
|---|---|
| Berkeley Group Holdings | 2.80% |
| Fukui Computer Holdings | 2.77% |
| Japan Material | 2.69% |
| Lite-On Technology Corp | 2.47% |
| Eurazeo | 2.39% |
| Domino'S Pizza Group | 2.35% |
| Nakanishi | 2.32% |
| Hana Financial Group | 2.30% |
| Rubis Sca | 2.29% |
| Top 10 holdings, percent of portfolio | 25.63% |
| Top 10 holdings as of 05/31/22 | |
|---|---|
| Cogeco Communications | |
| Berkeley Group Holdings | |
| Fukui Computer Holdings | |
| Japan Material | |
| Lite-On Technology Corp | |
| Eurazeo | |
| Domino'S Pizza Group | |
| Nakanishi | |
| Hana Financial Group | |
| Rubis Sca | |
| Holdings represent 25.63% of portfolio | |
| Top 10 holdings as of 04/30/22 | |
|---|---|
| Cogeco Communications | |
| Japan Material | |
| Fukui Computer Holdings | |
| Berkeley Group Holdings | |
| Cia De Distribucion Integral Logista Holdings | |
| Lite-On Technology Corp | |
| Motor Oil Hellas Corinth Refineries | |
| Eurazeo | |
| Opap | |
| Domino'S Pizza Group | |
| Holdings represent 26.08% of portfolio | |
| Top 10 holdings as of 03/31/22 | |
|---|---|
| Dassault Aviation | |
| Cogeco Communications | |
| Opap | |
| Lite-On Technology Corp | |
| Fukui Computer Holdings | |
| Japan Material | |
| Domino'S Pizza Group | |
| Cia De Distribucion Integral Logista Holdings | |
| Eurazeo | |
| Berkeley Group Holdings | |
| Holdings represent 26.50% of portfolio | |
| Top 10 holdings as of 02/28/22 | |
|---|---|
| Dassault Aviation | |
| Cogeco Communications | |
| Lite-On Technology Corp | |
| Opap | |
| Fukui Computer Holdings | |
| Japan Material | |
| Kyudenko Corp | |
| Cia De Distribucion Integral Logista Holdings | |
| Berkeley Group Holdings | |
| Home Capital Group | |
| Holdings represent 26.99% of portfolio | |
| DASSAULT AVIATION SA SEDOL BMT9L19 | 3.25% |
|---|---|
| COGECO COMMUNICATIONS INC SEDOL BZCDFX9 | 2.99% |
| OPAP SA SEDOL 7107250 | 2.80% |
| LITE-ON TECHNOLOGY CORP SEDOL 6519481 | 2.73% |
| FUKUI COMPUTER HOLDINGS INC SEDOL 6355652 | 2.61% |
| JAPAN MATERIAL CO LTD SEDOL B4KGDQ2 | 2.53% |
| DOMINO'S PIZZA GROUP PLC SEDOL BYN5913 | 2.42% |
| CIA DE DISTRIBUCION INTEGRAL SEDOL BP3QYZ2 | 2.41% |
| EURAZEO SE SEDOL 7042395 | 2.39% |
| BERKELEY GROUP HOLDINGS/THE SEDOL BLJNXL8 | 2.37% |
| HOME CAPITAL GROUP INC SEDOL 2434180 | 2.29% |
| HANA FINANCIAL GROUP SEDOL B0RNRF5 | 2.12% |
| SWISSQUOTE GROUP HOLDING SA SEDOL B1X3KP7 | 2.11% |
| MOTOR OIL (HELLAS) SA SEDOL 5996234 | 2.10% |
| CI FINANCIAL CORP SEDOL B3KT0S5 | 2.08% |
| KYUDENKO CORP SEDOL 6499969 | 2.08% |
| RUBIS SEDOL BDT88L2 | 2.04% |
| LIBERTY GLOBAL PLC- C SEDOL B8W67B1 | 2.03% |
| BRICKWORKS LIMITED SEDOL 6315593 | 2.03% |
| NOMAD FOODS LTD SEDOL BQFJGK5 | 2.00% |
| PALTAC CORPORATION SEDOL B61BG94 | 1.99% |
| TAKEUCHI MFG CO LTD SEDOL 6565031 | 1.92% |
| G-7 HOLDINGS INC SEDOL 6034188 | 1.92% |
| BREEDON GROUP PLC SEDOL B2419D8 | 1.91% |
| BELLWAY PLC SEDOL 0090498 | 1.88% |
| NAKANISHI INC SEDOL 6271071 | 1.88% |
| KAUFMAN & BROAD SEDOL B138HB7 | 1.87% |
| NABTESCO CORP SEDOL 6687571 | 1.78% |
| QIAGEN N.V. SEDOL BYXS699 | 1.76% |
| AVANT CORP SEDOL B1M7PY4 | 1.74% |
| NIPPON SYSTEM DEVELOPMENT CO SEDOL 6639602 | 1.68% |
| DALATA HOTEL GROUP PLC SEDOL BJMZDW8 | 1.48% |
| SK SQUARE CO LTD SEDOL BMG3GS6 | 1.48% |
| VIEWORKS CO LTD SEDOL B3F2324 | 1.42% |
| CRANSWICK PLC SEDOL 0231888 | 1.42% |
| ELITE MATERIAL CO LTD SEDOL 6316121 | 1.38% |
| MINERAL RESOURCES LTD SEDOL B17ZL56 | 1.33% |
| MELCO INTERNATIONAL DEVELOP. SEDOL B092QP3 | 1.32% |
| EURONEXT NV SEDOL BNBNSG0 | 1.29% |
| YAGEO CORPORATION SEDOL 6984380 | 1.28% |
| THERMADOR GROUPE SEDOL BFMGL63 | 1.27% |
| LIBERTY LATIN AMERIC-CL C SEDOL BD9Q3Q6 | 1.20% |
| ROYAL UNIBREW SEDOL BX8ZX20 | 1.18% |
| MOMO.COM INC SEDOL BJYP111 | 1.17% |
| CONSTELLATION SOFTWARE INC SEDOL B15C4L6 | 1.13% |
| CTS EVENTIM AG & CO KGAA SEDOL 5881857 | 1.07% |
| MEGACABLE HOLDINGS-CPO SEDOL B292SM8 | 1.06% |
| FOMENTO DE CONSTRUC Y CONTRA SEDOL 5787115 | 1.06% |
| NEXITY SEDOL B037JC2 | 0.99% |
| TECHNOPRO HOLDINGS INC SEDOL BSM8SQ9 | 0.97% |
| KOBE BUSSAN CO LTD SEDOL B14RJB7 | 0.92% |
| ADMIRAL GROUP PLC SEDOL B02J639 | 0.76% |
| SOLASTO CORP SEDOL BD97240 | 0.70% |
| DR. MARTENS PLC SEDOL BL6NGV2 | 0.68% |
| JET2 PLC SEDOL B1722W1 | 0.65% |
| DIASORIN SPA SEDOL B234WN9 | 0.59% |
| COMPUGROUP MEDICAL SE & CO K SEDOL BMY7CH1 | 0.57% |
| I-SENS INC SEDOL B94K2F7 | 0.55% |
| INDIAN ENERGY EXCHAN SEDOL BGLRNT1 | 0.50% |
| HIBERNIA REIT PLC SEDOL BGHQ198 | 0.50% |
| TREASURY BILL 00.0000 05/19/2022 | 0.31% |
| TREASURY BILL 00.0000 05/03/2022 | 0.26% |
| TREASURY BILL 00.0000 04/26/2022 | 0.17% |
| JPY/USD 05/18/2022 UBS | 0.16% |
| TWD/USD 05/18/2022 BCAP-FX | 0.08% |
| TWD/USD 05/18/2022 BANKAM | 0.07% |
| AUD/USD 04/20/2022 JPMCB | 0.06% |
| AUD/USD 04/20/2022 SSBT | 0.06% |
| GBP/USD 06/15/2022 JPMCB | 0.06% |
| JPY/USD 05/18/2022 BCAP-FX | 0.05% |
| SEK/USD 06/15/2022 JPMCB | 0.05% |
| SEK/USD 06/15/2022 HSBCB | 0.03% |
| GBP/USD 06/15/2022 BCAP-FX | 0.03% |
| JPY/USD 05/18/2022 MSCIL | 0.03% |
| CAD/USD 04/20/2022 UBS | 0.03% |
| AUD/USD 04/20/2022 CITI | 0.02% |
| AUD/USD 04/20/2022 MSCIL | 0.02% |
| AUD/USD 04/20/2022 WPAC | 0.02% |
| SEK/USD 06/15/2022 BANKAM | 0.01% |
| AUD/USD 04/20/2022 BCAP-FX | 0.01% |
| EUR/USD 06/15/2022 UBS | 0.01% |
| KRW/USD 05/18/2022 GSFX | 0.01% |
| SEK/USD 06/15/2022 BCAP-FX | 0.01% |
| NOK/USD 06/15/2022 HSBCB | 0.01% |
| AUD/USD 04/20/2022 UBS | 0.00% |
| NZD/USD 04/20/2022 JPMCB | 0.00% |
| NOK/USD 06/15/2022 UBS | 0.00% |
| CAD/USD 04/20/2022 MSCIL | 0.00% |
| NOK/USD 06/15/2022 JPMCB | 0.00% |
| EUR/USD 06/15/2022 SSBT | 0.00% |
| EUR/USD 06/15/2022 WPAC | 0.00% |
| CNH/USD 05/18/2022 HSBCB | 0.00% |
| EUR/USD 06/15/2022 CITI | 0.00% |
| NOK/USD 06/15/2022 BANKAM | 0.00% |
| SEK/USD 06/15/2022 MSCIL | 0.00% |
| AFREN PLC SEDOL B067275 | 0.00% |
| CAD/USD 04/20/2022 JPMCB | 0.00% |
| CHF/USD 06/15/2022 MSCIL | -0.00% |
| DKK/USD 06/15/2022 CITI | -0.00% |
| GBP/USD 06/15/2022 MSCIL | -0.00% |
| HKD/USD 05/18/2022 HSBCB | -0.00% |
| AUD/USD 04/20/2022 GSFX | -0.01% |
| JPY/USD 05/18/2022 WPAC | -0.01% |
| AUD/USD 04/20/2022 BANKAM | -0.01% |
| SGD/USD 05/18/2022 JPMCB | -0.01% |
| JPY/USD 05/18/2022 SSBT | -0.02% |
| CHF/USD 06/15/2022 JPMCB | -0.03% |
| ILS/USD 04/20/2022 SSBT | -0.03% |
| JPY/USD 05/18/2022 CITI | -0.03% |
| KRW/USD 05/18/2022 JPMCB | -0.05% |
| CLP/USD 04/20/2022 CITI | -0.13% |
| DASSAULT AVIATION SA SEDOL BMT9L19 | 2.76% |
|---|---|
| COGECO COMMUNICATIONS INC SEDOL BZCDFX9 | 2.57% |
| BERKELEY GROUP HOLDINGS/THE SEDOL BLJNXL8 | 2.48% |
| KYUDENKO CORP SEDOL 6499969 | 2.45% |
| CI FINANCIAL CORP SEDOL B3KT0S5 | 2.45% |
| FUKUI COMPUTER HOLDINGS INC SEDOL 6355652 | 2.44% |
| OPAP SA SEDOL 7107250 | 2.44% |
| LITE-ON TECHNOLOGY CORP SEDOL 6519481 | 2.37% |
| DOMINO'S PIZZA GROUP PLC SEDOL BYN5913 | 2.37% |
| CIA DE DISTRIBUCION INTEGRAL SEDOL BP3QYZ2 | 2.35% |
| ELITE MATERIAL CO LTD SEDOL 6316121 | 2.28% |
| JAPAN MATERIAL CO LTD SEDOL B4KGDQ2 | 2.24% |
| EURAZEO SE SEDOL 7042395 | 2.22% |
| KAUFMAN & BROAD SEDOL B138HB7 | 2.13% |
| SWISSQUOTE GROUP HOLDING SA SEDOL B1X3KP7 | 2.12% |
| MEGACABLE HOLDINGS-CPO SEDOL B292SM8 | 2.09% |
| HOME CAPITAL GROUP INC SEDOL 2434180 | 2.08% |
| BELLWAY PLC SEDOL 0090498 | 2.01% |
| NOMAD FOODS LTD SEDOL BQFJGK5 | 2.01% |
| PALTAC CORPORATION SEDOL B61BG94 | 1.97% |
| LIBERTY GLOBAL PLC- C SEDOL B8W67B1 | 1.97% |
| MOTOR OIL (HELLAS) SA SEDOL 5996234 | 1.90% |
| TAKEUCHI MFG CO LTD SEDOL 6565031 | 1.89% |
| RUBIS SEDOL BDT88L2 | 1.86% |
| QIAGEN N.V. SEDOL BYXS699 | 1.79% |
| NABTESCO CORP SEDOL 6687571 | 1.78% |
| G-7 HOLDINGS INC SEDOL 6034188 | 1.70% |
| HANA FINANCIAL GROUP SEDOL B0RNRF5 | 1.67% |
| MELCO INTERNATIONAL DEVELOP. SEDOL B092QP3 | 1.57% |
| BRICKWORKS LIMITED SEDOL 6315593 | 1.55% |
| NAKANISHI INC SEDOL 6271071 | 1.54% |
| NIPPON SYSTEM DEVELOPMENT CO SEDOL 6639602 | 1.53% |
| AMANO CORP SEDOL 6027304 | 1.51% |
| BREEDON GROUP PLC SEDOL B2419D8 | 1.48% |
| VIEWORKS CO LTD SEDOL B3F2324 | 1.33% |
| EURONEXT NV SEDOL BNBNSG0 | 1.32% |
| MINERAL RESOURCES LTD SEDOL B17ZL56 | 1.32% |
| SINO-AMERICAN SILICON PRODUC SEDOL 6335278 | 1.31% |
| ROYAL UNIBREW SEDOL BX8ZX20 | 1.28% |
| DALATA HOTEL GROUP PLC SEDOL BJMZDW8 | 1.28% |
| LIBERTY LATIN AMERIC-CL C SEDOL BD9Q3Q6 | 1.28% |
| GLOBALTRA-SPONS GDR REG S SEDOL B2QTGT5 | 1.27% |
| THERMADOR GROUPE SEDOL BFMGL63 | 1.26% |
| INDIAN ENERGY EXCHAN SEDOL BGLRNT1 | 1.24% |
| NEXITY SEDOL B037JC2 | 1.18% |
| HIBERNIA REIT PLC SEDOL BGHQ198 | 1.11% |
| CONSTELLATION SOFTWARE INC SEDOL B15C4L6 | 1.09% |
| KOBE BUSSAN CO LTD SEDOL B14RJB7 | 1.04% |
| VIVO ENERGY PLC SEDOL BDGT2M7 | 1.03% |
| CTS EVENTIM AG & CO KGAA SEDOL 5881857 | 1.02% |
| JINS HOLDINGS INC SEDOL B18D6G5 | 1.01% |
| FOMENTO DE CONSTRUC Y CONTRA SEDOL 5787115 | 0.99% |
| TECHNOPRO HOLDINGS INC SEDOL BSM8SQ9 | 0.98% |
| DR. MARTENS PLC SEDOL BL6NGV2 | 0.88% |
| ADMIRAL GROUP PLC SEDOL B02J639 | 0.87% |
| AVANT CORP SEDOL B1M7PY4 | 0.86% |
| SOLASTO CORP SEDOL BD97240 | 0.83% |
| COMPUGROUP MEDICAL SE & CO K SEDOL BMY7CH1 | 0.67% |
| CAPRICORN ENERGY PLC SEDOL BN0SMB9 | 0.64% |
| DIASORIN SPA SEDOL B234WN9 | 0.64% |
| JET2 PLC SEDOL B1722W1 | 0.58% |
| MOMO.COM INC SEDOL BJYP111 | 0.56% |
| I-SENS INC SEDOL B94K2F7 | 0.51% |
| TREASURY BILL 00.0000 05/19/2022 | 0.28% |
| CLP/USD 01/19/2022 CITI | 0.08% |
| TREASURY BILL 00.0000 02/17/2022 | 0.06% |
| CHF/USD 03/16/2022 JPMCB | 0.04% |
| ILS/USD 01/19/2022 SSBT | 0.04% |
| GBP/USD 03/16/2022 BANKAM | 0.02% |
| JPY/USD 02/16/2022 UBS | 0.02% |
| GBP/USD 03/16/2022 CITI | 0.02% |
| JPY/USD 02/16/2022 BCAP-FX | 0.02% |
| NOK/USD 03/16/2022 HSBCB | 0.02% |
| CAD/USD 01/19/2022 MSCIL | 0.01% |
| JPY/USD 02/16/2022 BANKAM | 0.01% |
| NOK/USD 03/16/2022 UBS | 0.01% |
| JPY/USD 02/16/2022 HSBCB | 0.01% |
| NOK/USD 03/16/2022 JPMCB | 0.01% |
| EUR/USD 03/16/2022 CITI | 0.00% |
| EUR/USD 03/16/2022 SSBT | 0.00% |
| EUR/USD 03/16/2022 MSCIL | 0.00% |
| EUR/USD 03/16/2022 WPAC | 0.00% |
| NOK/USD 03/16/2022 BANKAM | 0.00% |
| CNH/USD 02/16/2022 HSBCB | 0.00% |
| DKK/USD 03/16/2022 CITI | 0.00% |
| EUR/USD 03/16/2022 HSBCB | 0.00% |
| SGD/USD 02/16/2022 JPMCB | 0.00% |
| EUR/USD 03/16/2022 TDBK | 0.00% |
| AFREN PLC SEDOL B067275 | 0.00% |
| AUD/USD 01/19/2022 BANKAM | 0.00% |
| AUD/USD 01/19/2022 BCAP-FX | 0.00% |
| AUD/USD 01/19/2022 CITI | 0.00% |
| AUD/USD 01/19/2022 UBS | 0.00% |
| EUR/USD 03/16/2022 BCAP-FX | 0.00% |
| HKD/USD 02/16/2022 UBS | 0.00% |
| JPY/USD 02/16/2022 MSCIL | 0.00% |
| SEK/USD 03/16/2022 BANKAM | 0.00% |
| SEK/USD 03/16/2022 BCAP-FX | 0.00% |
| SEK/USD 03/16/2022 UBS | 0.00% |
| AUD/USD 01/19/2022 WPAC | -0.00% |
| GBP/USD 03/16/2022 UBS | -0.00% |
| HKD/USD 02/16/2022 HSBCB | -0.00% |
| SEK/USD 03/16/2022 HSBCB | -0.00% |
| AUD/USD 01/19/2022 SSBT | -0.00% |
| CHF/USD 03/16/2022 BCAP-FX | -0.00% |
| CHF/USD 03/16/2022 MSCIL | -0.00% |
| EUR/USD 03/16/2022 BANKAM | -0.00% |
| KRW/USD 02/16/2022 JPMCB | -0.00% |
| SEK/USD 03/16/2022 JPMCB | -0.00% |
| SEK/USD 03/16/2022 SSBT | -0.00% |
| EUR/USD 03/16/2022 GSFX | -0.00% |
| AUD/USD 01/19/2022 JPMCB | -0.00% |
| JPY/USD 02/16/2022 JPMCB | -0.00% |
| NZD/USD 01/19/2022 JPMCB | -0.00% |
| GBP/USD 03/16/2022 GSFX | -0.01% |
| GBP/USD 03/16/2022 MSCIL | -0.01% |
| JPY/USD 02/16/2022 WPAC | -0.01% |
| GBP/USD 03/16/2022 HSBCB | -0.01% |
| GBP/USD 03/16/2022 WPAC | -0.01% |
| JPY/USD 02/16/2022 GSFX | -0.01% |
| GBP/USD 03/16/2022 SSBT | -0.01% |
| JPY/USD 02/16/2022 SSBT | -0.02% |
| EUR/USD 03/16/2022 UBS | -0.02% |
| AUD/USD 01/19/2022 MSCIL | -0.02% |
| GBP/USD 03/16/2022 BCAP-FX | -0.04% |
| GBP/USD 03/16/2022 JPMCB | -0.04% |
| CAD/USD 01/19/2022 UBS | -0.05% |
Portfolio composition as of 05/31/22
| Common stock | 98.35% |
|---|---|
| Cash and net other assets | 1.65% |
Equity statistics as of 05/31/22
| Median market cap | $2.56B |
|---|---|
| Weighted average market cap | $3.86B |
| Price to book | 1.62 |
| Price to earnings | 11.47 |
Fund characteristics will vary over time.
Due to rounding, percentages may not equal 100%.
Consider these risks before investing: The value of investments in the fund’s portfolio may fall or fail to rise over extended periods of time for a variety of reasons, including general economic, political, or financial market conditions; investor sentiment and market perceptions; government actions; geopolitical events or changes; and factors related to a specific issuer, geography, industry, or sector. These and other factors may lead to increased volatility and reduced liquidity in the fund’s portfolio holdings.
International investing involves currency, economic, and political risks. Emerging market securities carry illiquidity and volatility risks. Investments in small and/or midsize companies increase the risk of greater price fluctuations. Growth stocks may be more susceptible to earnings disappointments, and value stocks may fail to rebound. Risks associated with derivatives include increased investment exposure (which may be considered leverage) and, in the case of over-the-counter instruments, the potential inability to terminate or sell derivatives positions and the potential failure of the other party to the instrument to meet its obligations.
Our investment techniques, analyses, and judgments may not produce the outcome we intend. The investments we select for the fund may not perform as well as other securities that we do not select for the fund. We, or the fund’s other service providers, may experience disruptions or operating errors that could have a negative effect on the fund. You can lose money by investing in the fund.
Top industry sectors as of 05/31/22
| Consumer discretionary | 17.37% |
|---|---|
| Information technology | 15.94% |
| Industrials | 15.62% |
| Financials | 12.59% |
| Consumer staples | 8.75% |
| Health care | 8.24% |
| Communication services | 7.43% |
| Materials | 5.74% |
| Energy | 3.50% |
| Other | 4.82% |
0
The unclassified sector (where applicable) includes exchange traded funds and other securities not able to be classified by sector.
Sectors will vary over time.
Country allocation as of 05/31/22
| Japan | 22.96% |
|---|---|
| United Kingdom | 14.88% |
| France | 12.06% |
| Canada | 9.08% |
| Taiwan | 6.59% |
| South Korea | 5.79% |
| Greece | 3.87% |
| Australia | 3.62% |
| Spain | 3.13% |
| Other | 18.02% |
0
Expenses
Expense ratio |
Class A | Class B | Class C | Class R | Class R6 | Class Y |
|---|---|---|---|---|---|---|
| Total expense ratio | 1.48% | 2.23% | 2.23% | 1.73% | 1.08% | 1.23% |
| What you pay | 1.48% | 2.23% | 2.23% | 1.73% | 1.08% | 1.23% |
Sales charge
| Investment Breakpoint | Class A | Class B | Class C | Class R | Class R6 | Class Y |
|---|---|---|---|---|---|---|
| $0-$49,999 | 5.75% | 0.00% | 0.00% | -- | -- | -- |
| $50,000-$99,999 | 4.50% | 0.00% | 0.00% | -- | -- | -- |
| $100,000-$249,999 | 3.50% | -- | 0.00% | -- | -- | -- |
| $250,000-$499,999 | 2.50% | -- | 0.00% | -- | -- | -- |
| $500,000-$999,999 | 2.00% | -- | 0.00% | -- | -- | -- |
| $1M-$4M | 0.00% | -- | -- | -- | -- | -- |
| $4M-$50M | 0.00% | -- | -- | -- | -- | -- |
| $50M+ | 0.00% | -- | -- | -- | -- | -- |
CDSC
| Class A (sales for $1,000,000+) | Class B | Class C | Class R | Class R6 | Class Y | |
|---|---|---|---|---|---|---|
| 0 to 9 mts. | 1.00% | 5.00% | 1.00% | -- | -- | -- |
| 9 to 12 mts. | 1.00% | 5.00% | 1.00% | -- | -- | -- |
| 2 yrs. | 0.00% | 4.00% | 0.00% | -- | -- | -- |
| 3 yrs. | 0.00% | 3.00% | 0.00% | -- | -- | -- |
| 4 yrs. | 0.00% | 3.00% | 0.00% | -- | -- | -- |
| 5 yrs. | 0.00% | 2.00% | 0.00% | -- | -- | -- |
| 6 yrs. | 0.00% | 1.00% | 0.00% | -- | -- | -- |
| 7+ yrs. | 0.00% | 0.00% | 0.00% | -- | -- | -- |
The S&P Developed Ex-U.S. SmallCap Index is an unmanaged index of small-cap stocks from developed countries, excluding the United States. You cannot invest directly in an index.
Consider these risks before investing: The value of investments in the fund’s portfolio may fall or fail to rise over extended periods of time for a variety of reasons, including general economic, political, or financial market conditions; investor sentiment and market perceptions; government actions; geopolitical events or changes; and factors related to a specific issuer, geography, industry, or sector. These and other factors may lead to increased volatility and reduced liquidity in the fund’s portfolio holdings.
International investing involves currency, economic, and political risks. Emerging market securities carry illiquidity and volatility risks. Investments in small and/or midsize companies increase the risk of greater price fluctuations. Growth stocks may be more susceptible to earnings disappointments, and value stocks may fail to rebound. Risks associated with derivatives include increased investment exposure (which may be considered leverage) and, in the case of over-the-counter instruments, the potential inability to terminate or sell derivatives positions and the potential failure of the other party to the instrument to meet its obligations.
Our investment techniques, analyses, and judgments may not produce the outcome we intend. The investments we select for the fund may not perform as well as other securities that we do not select for the fund. We, or the fund’s other service providers, may experience disruptions or operating errors that could have a negative effect on the fund. You can lose money by investing in the fund.