-
Vanguard FTSE Developed All Cap ex North America Index ETF (VIU $42.74)
-
Mawer Global Equity Fund Series A (MAW120 $48.89)
-
iShares International Select Dividend ETF (IDV $37.59)
-
Invesco S&P International Developed Momentum ETF (IDMO $54.09)
Q: I have owned MAW120 for almost 10 years, and upon looking at its recent performance, I can't find any reason to continue owning this fund. Can you?
As per Mawer's web site (https://www.mawer.com/funds/performance) it shows results as of June 30, 2025 versus its benchmark:
MAW120 1yr: -0.9%; 3 yr: 9.8%; 5 yr 7.7%
Benchmark: 1 yr: 15.8%; 3 yr: 19.6%; 5 yr 13.7%
For the one year period ending June 30th it lost money! It's benchmark earned 15.8%. It has > 50% invested in the US market. I don't see how they could lose money over that time period. Can you explain how it could lose money when markets in US, Canda and Europe over that period were generally good. Even their International Equity fund made 23.3% over the same 1 year time period.
I will be "firing" them. I have sold 1/2 today, and will sell the other 1/2 next week. I would like to invest in the benchmark for this fund, or something as equivalent as possible. Can you suggest 3 ETFs for me to buy for global equity exposure that have significantly better performance than MAW120.
Thanks,
Paul
As per Mawer's web site (https://www.mawer.com/funds/performance) it shows results as of June 30, 2025 versus its benchmark:
MAW120 1yr: -0.9%; 3 yr: 9.8%; 5 yr 7.7%
Benchmark: 1 yr: 15.8%; 3 yr: 19.6%; 5 yr 13.7%
For the one year period ending June 30th it lost money! It's benchmark earned 15.8%. It has > 50% invested in the US market. I don't see how they could lose money over that time period. Can you explain how it could lose money when markets in US, Canda and Europe over that period were generally good. Even their International Equity fund made 23.3% over the same 1 year time period.
I will be "firing" them. I have sold 1/2 today, and will sell the other 1/2 next week. I would like to invest in the benchmark for this fund, or something as equivalent as possible. Can you suggest 3 ETFs for me to buy for global equity exposure that have significantly better performance than MAW120.
Thanks,
Paul
5i Research Answer:
The 1.31% expense certainly is a compounding drag on performance. But it looks as if it had a higher weighting in the US than other funds, and this has hurt recent performance. It does not own a lot of the 'hot' names and sectors as that is generally not the managers' style. But other than that we cannot specifically pinpoint reasons here. We would suggest VIU, IDV, IDMO and SPGM, all of which have better 5-year numbers than Mawer.