Fund Evaluator:

Causeway International Value Instl Overview

Causeway International Value Instl (CIVIX) is an actively managed International Equity Foreign Large Value fund. Causeway launched the fund in 2001.

The investment seeks long-term growth of capital and income. The fund invests primarily in common stocks of companies in developed countries outside the U.S. Normally, it invests at least 80% of its total assets in stocks of companies in a number of foreign countries and invests the majority of its total assets in companies that pay dividends or repurchase their shares. The fund may invest up to 15% of its total assets in companies in emerging (less developed) markets.

About Causeway International Value Instl (CIVIX)

There are 8 members of the management team with an average tenure of 15.35 years: Jonathan Eng (2006), Conor Muldoon (2010), Alessandro Valentini (2013), Ellen Lee (2015), Brian Cho (2021), Steven Nguyen (2019), Harry Hartford (2001), Sarah Ketterer (2001). Management tenure is more important for actively managed funds than passive index funds.

The fund has 1 primary benchmark: MSCI EAFE NR USD index with a weighting of 100%. Causeway International Value Instl has 76 securities in its portfolio. The top 10 holdings constitute 30.0% 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.

Causeway International Value Instl is part of the Equity global asset class and is within the International Equity fund group. Causeway International Value Instl has 96.6% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 2.2%. There is 96.6% 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). Causeway International Value Instl has 1.2% of the portfolio in cash.

Assets Under Management

The fund has $19 billion in total assets, which is above the $976 million average for the Foreign Large 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.

CIVIX 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 Causeway International Value Instl expense ratio is high compared to funds in the Foreign Large Value category. Causeway International Value Instl has an expense ratio of 0.85%, which is 19% 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. Causeway International Value Instl has a portfolio turnover rate of 46%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 62% for the Foreign Large Value category.

Recently, in the month of July 2026, Causeway International Value Instl returned 3.7%, which earned it a grade of C, as the Foreign Large Value category had an average return of 3.8%. 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.

Causeway International Value Instl has a trailing yield of 1.20%, which is below the 2.78% category average. The fund normally distributes its income annually 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.

Causeway International Value Instl Grades

Year to date, the fund has returned 10.9%, 4.0 percentage points worse than the category, which translates into a grade of F. The fund has returned 27.0% over the past year (grade of D), 18.3% over the past three years (grade of D) and 13.8% per year over the past five years (grade of B) and 10.8% per year over the past 10 years (grade of B).

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