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Causeway International Value Instl CIVIX

Analyst rating as of
NAV / 1-Day Return
13.58  /  0.88 %
Total Assets
5.2 Bil
Adj. Expense Ratio
0.850%
Expense Ratio
0.850%
Fee Level
Average
Longest Manager Tenure
18.80 years
Category
US Fund Foreign Large Value
Investment Style
Large Value
Min. Initial Investment
1,000,000
Status
Open
TTM Yield
3.80%
Turnover
36%
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Morningstar’s Analysis

Will CIVIX outperform in future?

Get our overall rating based on a fundamental assessment of the pillars below.

A Difficult Start to 2020 for Causeway International Value

Analyst Note

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Causeway International Value has struggled thus far in the downturn that began in non-U.S. markets on Jan. 20, 2020. From then through March 16, it fell a painful 38.0%, compared with 34.5% for the MSCI EAFE Value Index. Stock selection has been poor across several sectors, but financial services, consumer cyclicals, and energy holdings--all in economically sensitive parts of the market--most notably weighed on relative results. The managers employ an aggressive approach, often leaning into volatility by embracing firms going through short-term crises when their valuations look attractive. The approach has led to stretches of poor performance, including in certain down markets, but the team's picks have delivered over the long run, albeit with slightly above-average volatility.

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