Fund Evaluator:
EP Emerging Markets A (EPASX)
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Fund Details
EP Emerging Markets A Overview
EP Emerging Markets A (EPASX) is an actively managed International Equity Diversified Emerging Mkts fund. Euro Pacific Asset Management launched the fund in 2010.
The investment seeks long term capital appreciation. The fund seeks to achieve its investment objective by investing at least 80% of its net assets in equity securities of companies that are tied economically to emerging market countries. The fund’s advisor considers emerging market countries to be those countries that are, at the time of investment, included in the MSCI Emerging Markets Index. The fund’s investments in equity securities may include common stock, preferred stocks, convertible stock and warrants.
About EP Emerging Markets A (EPASX)
There are 2 members of the management team with an average tenure of 4.00 years: Patrick Rien (2022), Luke Allen (2022). Management tenure is more important for actively managed funds than passive index funds.
The fund has 1 primary benchmark: MSCI EM NR USD index with a weighting of 100%. EP Emerging Markets A has 67 securities in its portfolio. The top 10 holdings constitute 35.1% 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.
EP Emerging Markets A is part of the Equity global asset class and is within the International Equity fund group. EP Emerging Markets A has 90.2% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 1.7%. There is 90.2% 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). EP Emerging Markets A has 6.7% of the portfolio in cash.
Assets Under Management
The fund has $99 million in total assets, which is below the $992 million average for the Diversified Emerging Mkts 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.
EPASX 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 EP Emerging Markets A expense ratio is high compared to funds in the Diversified Emerging Mkts category. EP Emerging Markets A has an expense ratio of 1.77%, which is 53% higher than its category average, making the fund expense ratio grade a F. 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. EP Emerging Markets A has a portfolio turnover rate of 11%, indicating that holds its assets around 0.1 years. By way of comparison, the average portfolio turnover is 68% for the Diversified Emerging Mkts category.
Recently, in the month of August 2026, EP Emerging Markets A returned 2.8%, which earned it a grade of D, as the Diversified Emerging Mkts category had an average return of 3.9%. 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.
EP Emerging Markets A has a trailing yield of 1.84%, which is above the 1.65% 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.
EP Emerging Markets A Grades
Year to date, the fund has returned 6.1%, 17.7 percentage points worse than the category, which translates into a grade of F. The fund has returned 10.9% over the past year (grade of F), 11.7% over the past three years (grade of F) and -0.0% per year over the past five years (grade of F) and 4.9% per year over the past 10 years (grade of F).
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EPASX Trailing NAV Total Returns Data as of 8/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| EPASX Return (NAV) | 2.8% | 0.6% | 10.9% | 11.7% | -0.0% | 4.9% |
| EPASX Grade | D | A | F | F | F | F |
| +/- Category | -1.1% | 1.7% | -26.6% | -10.0% | -6.8% | -4.0% |
| Diversified Emerging Mkts Avg | 3.9% | -1.2% | 37.5% | 21.7% | 6.8% | 8.9% |
| EPASX Tax Cost Ratio | na | na | 0.8% | 0.7% | 1.4% | 1.1% |
EPASX Annual NAV Total ReturnsData as of 8/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| EPASX Return (NAV) | 6.1% | 25.4% | 0.6% | 7.2% | -28.7% | 9.7% | 27.2% | 14.7% | -21.4% | 34.4% | 4.9% |
| EPASX Grade | F | F | F | F | F | A | B | F | F | D | D |
| +/- Category | -17.7% | -6.0% | -5.6% | -5.0% | -6.1% | 9.9% | 5.6% | -7.2% | -5.0% | -2.3% | -3.7% |
| Diversified Emerging Mkts Avg | 23.7% | 31.4% | 6.2% | 12.1% | -22.6% | -0.2% | 21.6% | 21.9% | -16.4% | 36.7% | 8.6% |
| Risk Measures | |
| Standard Deviation: | 11.7% |
| Total Risk Index: | 0.96 - Average |
| Category Risk Index: | 0.72 - Low |
| Category Risk Grade: | A (5% Rank) |
| Beta: | 0.69 |
| R-Squared: | 62% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Value |
| Bond Investment Style: | na |
| Yield: | 1.8% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $135 Mil |
| Fund Total Assets: | $ 100 Mil |
| Share Class Type: | A |
| Portfolio Turnover: | 11% |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 4.0 years | |||
| Average Tenure: 4.0 years | |||
| Managers (Year): Rien Patrick (2022), Allen Luke (2022) | |||
Portfolio Composition (as of 4/30/26)
| # of Holdings: | 67 |
| % in Top 10 Holdings: | 35.1% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 90.2% |
Portfolio Allocation |
|
| Domestic Stock: | 1.7% |
| Foreign Stock: | 90.2% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 1.4% |
| Cash: | 6.7% |
Purchase Information
| Fund Family: | Euro Pacific Asset Management |
| Phone Number: | 888-558-5851 |
| Website: | www.europacificfunds.com |
| Status: | Open |
| Inception Date: | December 1, 2010 |
| Min. Initial Purchase: | $2,500 |
| Min. Initial IRA Purchase: | $2,500 |
| True No-Load: | No |
| Front Load Maximum: | 4.50% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | 0.25% |
Expenses and Fees | |
| Expense Ratio (%): | 1.77% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.15% |
| Share Class: | EP Emerging Markets A |
| Min. Subsequent Purchase: | $ 250 |
| Min. Subsequent IRA Purchase: | $ 250 |
