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International-Stock Funds Conquer Concerns in 2016

Most categories managed to climb a wall of worry as emerging markets and energy revived.

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This year was a mirror image of 2015 for non-U.S. stock funds in terms of performance, according to preliminary returns. The average international-equity fund lost 3.4% in 2015 but eked out a 4.0% gain in 2016 through Dec. 29, despite a host of concerns. Those worries included terrorism, political turmoil in both the Western and Eastern hemispheres, and currency volatility.

Wall of Worry
Broadly, a rebound in Latin American markets, the United Kingdom's vote to leave the European Union in June, the surprise election of Donald Trump as the U.S. president, scattered acts of terrorism across the globe, and the strengthening dollar were all among the bricks in the wall of worry that most international-equity Morningstar Categories managed to climb in 2016.

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Dan Culloton has a position in the following securities mentioned above: DODFX. Find out about Morningstar’s editorial policies.