Performance and Risk Exposure of International Mutual Funds
DOI:
https://doi.org/10.1016/1057-0810(92)90005-WAbstract
This study examined whether internationally diversified mutualfinds increase a U.S. investor’s risk-adjusted return above that on a domestic benchmarkmutualfund. Average returns on about one-half of the international funds exceeded the domestic benchmark fund’s return. The risk-adjusted returns on the international mutual funds were not significantly dtrerentji-om that on the domestic benchmark fund. These results dtrerfiom earlier studies which generally found superior returns on international mutual funds. The benefits for the U.S. investor of holding an internationally diversijied mutualfund appear to be limited for the period studied.
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