Fund Evaluator:

Destinations International Equity I Overview

Destinations International Equity I (DIEFX) is an actively managed International Equity Foreign Large Blend fund. Destinations Funds launched the fund in 2017.

The investment seeks long term capital appreciation. The fund will invest at least 80% of its net assets (plus the amount of any borrowing for investment purposes) in equity securities. The fund's assets will primarily be invested in foreign equity securities, including emerging market and frontier market equity securities, of any capitalization. It is expected that, under normal market conditions, at least 40% of the fund's assets will be invested in the securities of companies that are tied economically to at least three countries outside the U.S.

About Destinations International Equity I (DIEFX)

There are 19 members of the management team with an average tenure of 4.40 years: Timothy Holland (2022), Arjun Jayaraman (2023), MacDuff Kuhnert (2023), Richard Clattenburg (2017), Benjamin Stone (2017), Randolph Wrighton (2021), Joe Gubler (2023), Juan Acevedo (2023), Lisa Hobart (2023), John Law (2023), Brian Storey (2022), Ryan Myers (2023), Philip Evans (2020), Anuj Aggarwal (2022), Patrik Wibom (2023), Andrew Goins (2023), John Hoffmann (2026), Karl Schneider (2023), Michael Kass (2017). Management tenure is more important for actively managed funds than passive index funds.

The fund has 1 primary benchmark: FTSE AW Ex US TR USD index with a weighting of 100%. Destinations International Equity I has 1734 securities in its portfolio. The top 10 holdings constitute 18.4% 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.

Destinations International Equity I is part of the Equity global asset class and is within the International Equity fund group. Destinations International Equity I has 93.9% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 3.9%. There is 93.9% 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). Destinations International Equity I has 2.1% of the portfolio in cash.

Assets Under Management

The fund has $1 billion in total assets, which is below the $2 billion average for the Foreign Large Blend 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.

DIEFX 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 Destinations International Equity I expense ratio is high compared to funds in the Foreign Large Blend category. Destinations International Equity I has an expense ratio of 1.07%, which is 14% higher than its category average, making the fund expense ratio grade a D. 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. Destinations International Equity I has a portfolio turnover rate of 54%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 62% for the Foreign Large Blend category.

Recently, in the month of July 2026, Destinations International Equity I returned -0.6%, which earned it a grade of D, as the Foreign Large Blend category had an average return of 0.7%. 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.

Destinations International Equity I has a trailing yield of 1.51%, which is below the 2.17% 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.

Destinations International Equity I Grades

Year to date, the fund has returned 14.1%, 2.4 percentage points better than the category, which translates into a grade of A. The fund has returned 26.9% over the past year (grade of B), 15.9% over the past three years (grade of C) and 6.5% per year over the past five years (grade of F).

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