Fund Evaluator:
Brandes Global Equity I (BGVIX)
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Best Performing in Global Large-Stock Value Over the Last Year
| 56.1% | Vanguard Global Capital Cycles Investor (VGPMX) |
| 42.0% | LSV Global Value Investor (LVAGX) |
| 41.4% | AMG Yacktman Focused N (YAFFX) |
| 40.1% | Polaris Global Value (PGVFX) |
| 35.3% | T. Rowe Price Glbl Val Eq (TRGVX) |
Fund Details
Brandes Global Equity I Overview
Brandes Global Equity I (BGVIX) is an actively managed International Equity Global Large-Stock Value fund. Brandes launched the fund in 2008.
The investment seeks long term capital appreciation. The fund invests primarily in equity securities of U.S. and foreign companies. The fund typically invests in companies with market capitalizations (market value of publicly traded equity securities) greater than $5 billion at the time of purchase. A foreign company is determined to be "foreign" on the basis of its domicile, its principal place of business, its primary stock exchange listing, and/or the source of its revenues.
About Brandes Global Equity I (BGVIX)
There are 4 members of the management team with an average tenure of 14.58 years: Kenneth Little (2013), Ted Kim (2013), Brent Fredberg (2008), Brian Matthews (2013). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: MSCI World NR USD index with a weighting of 100% and MSCI World Value NR USD index with a weighting of 100%. Brandes Global Equity I has 69 securities in its portfolio. The top 10 holdings constitute 23.7% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
Brandes Global Equity I is part of the Equity global asset class and is within the International Equity fund group. Brandes Global Equity I has 54.2% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 44.0%. There is 54.2% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Brandes Global Equity I has 1.8% of the portfolio in cash.
Assets Under Management
The fund has $81 million in total assets, which is below the $503 million average for the Global Large-Stock Value category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
BGVIX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Brandes Global Equity I expense ratio is high compared to funds in the Global Large-Stock Value category. Brandes Global Equity I has an expense ratio of 0.90%, which is 14% lower than its category average, making the fund expense ratio grade a B. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Brandes Global Equity I has a portfolio turnover rate of 31%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 48% for the Global Large-Stock Value category.
Recently, in the month of July 2026, Brandes Global Equity I returned 5.1%, which earned it a grade of B, as the Global Large-Stock Value category had an average return of 2.9%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
Brandes Global Equity I has a trailing yield of 1.42%, which is below the 1.78% category average. The fund normally distributes its income quarterly and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Brandes Global Equity I Grades
Year to date, the fund has returned 7.5%, 5.2 percentage points worse than the category, which translates into a grade of F. The fund has returned 24.1% over the past year (grade of C), 19.8% over the past three years (grade of B) and 13.8% per year over the past five years (grade of A) and 11.7% per year over the past 10 years (grade of A).
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BGVIX Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| BGVIX Return (NAV) | 5.1% | 3.9% | 24.1% | 19.8% | 13.8% | 11.7% |
| BGVIX Grade | B | D | C | B | A | A |
| +/- Category | 2.2% | -1.2% | -0.3% | 3.3% | 3.2% | 1.4% |
| Global Large-Stock Value Avg | 2.9% | 5.2% | 24.4% | 16.5% | 10.6% | 10.3% |
| BGVIX Tax Cost Ratio | na | na | 3.0% | 2.2% | 1.9% | 1.6% |
BGVIX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| BGVIX Return (NAV) | 7.5% | 33.5% | 12.5% | 21.7% | -5.9% | 21.2% | 2.0% | 17.4% | -10.4% | 16.2% | 8.1% |
| BGVIX Grade | F | A | B | A | B | B | D | F | D | D | C |
| +/- Category | -5.2% | 9.5% | 2.8% | 6.9% | 3.1% | 2.1% | -2.1% | -5.6% | -0.0% | -2.5% | -1.4% |
| Global Large-Stock Value Avg | 12.6% | 24.1% | 9.7% | 14.7% | -9.1% | 19.1% | 4.1% | 22.9% | -10.3% | 18.7% | 9.5% |
| Risk Measures | |
| Standard Deviation: | 11.6% |
| Total Risk Index: | 0.95 - Average |
| Category Risk Index: | 1.00 - Average |
| Category Risk Grade: | C (55% Rank) |
| Beta: | 0.72 |
| R-Squared: | 60% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Value |
| Bond Investment Style: | na |
| Yield: | 1.4% |
| Dividend Distribution: | Quarterly |
| Cap Gains Distribution: | Annually |
| Total Assets: | $87 Mil |
| Fund Total Assets: | $ 82 Mil |
| Share Class Type: | Inst |
| Portfolio Turnover: | 31% |
Management Team
| Number of Managers: 4 | |||
| Longest Tenure: 17.8 years | |||
| Average Tenure: 14.6 years | |||
| Managers (Year): Fredberg Brent (2008), Matthews Brian (2013), Little Kenneth (2013), Kim Ted (2013) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 69 |
| % in Top 10 Holdings: | 23.7% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 54.2% |
Portfolio Allocation |
|
| Domestic Stock: | 44.0% |
| Foreign Stock: | 54.2% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 1.8% |
Purchase Information
| Fund Family: | Brandes |
| Phone Number: | 800-395-3807 |
| Website: |
| Status: | Open |
| Inception Date: | October 6, 2008 |
| Min. Initial Purchase: | $100,000 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | na |
Expenses and Fees | |
| Expense Ratio (%): | 0.90% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.05% |
| Share Class: | Brandes Global Equity I |
| Min. Subsequent Purchase: | $ 500 |
| Min. Subsequent IRA Purchase: | $ 0 |
