Fund Evaluator:
E*TRADE No Fee International Index (ETISX)
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Best Performing in Foreign Large Blend Over the Last Year
| 35.2% | AB International Strat Eqs Z (STEZX) |
| 32.9% | NYLI WMC International Research Eq Cl I (MYIIX) |
| 31.4% | Nationwide Bailard Intl Eqs M (NWHLX) |
| 31.2% | Goldman Sachs Intl Eq Insghts Inv (GCITX) |
| 31.2% | Vanguard International Core Stock Adm (VZICX) |
Fund Details
E*TRADE No Fee International Index Overview
E*TRADE No Fee International Index (ETISX) is a passively managed International Equity Foreign Large Blend fund. Morgan Stanley launched the fund in 2025.
The investment seeks to track, as closely as possible, before fees and expenses, if any, the performance of the Solactive GBS Developed Markets ex United States Large & Mid Cap USD Index NTR. Under normal circumstances, the fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in securities included in the underlying index. The index is part of the Solactive Global Benchmark Series which includes benchmark indices for developed and emerging market countries.
About E*TRADE No Fee International Index (ETISX)
There are 2 members of the management team with an average tenure of 1.30 years: Gordon Wotherspoon (2025), Jennifer Mihara (2025). Management tenure is more important for actively managed funds than passive index funds.
The fund has 1 primary benchmark: Solactive GBS DM ex US L&M Cap TR USD index with a weighting of 100%. E*TRADE No Fee International Index has 978 securities in its portfolio. The top 10 holdings constitute 12.4% 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.
E*TRADE No Fee International Index is part of the Equity global asset class and is within the International Equity fund group. E*TRADE No Fee International Index has 97.4% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 1.2%. There is 97.4% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.4% (0.4% domestic bond, 0.0% foreign bond and 0.0% convertible bond). E*TRADE No Fee International Index has 0.9% of the portfolio in cash.
Assets Under Management
The fund has $66 million 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.
ETISX 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 E*TRADE No Fee International Index expense ratio is low compared to funds in the Foreign Large Blend category. E*TRADE No Fee International Index has an expense ratio of 0.00%, which is 100% lower than its category average, making the fund expense ratio grade a A. 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. E*TRADE No Fee International Index has a portfolio turnover rate of 6%, indicating that holds its assets around 0.2 years. By way of comparison, the average portfolio turnover is 62% for the Foreign Large Blend category.
Recently, in the month of July 2026, E*TRADE No Fee International Index returned 1.8%, which earned it a grade of B, 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.
E*TRADE No Fee International Index has a trailing yield of 1.76%, 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.
E*TRADE No Fee International Index Grades
Year to date, the fund has returned 11.6%, 0.1 percentage points worse than the category, which translates into a grade of C. The fund has returned 25.7% over the past year (grade of C).
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ETISX 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 |
|
| ETISX Return (NAV) | 1.8% | 4.1% | 25.7% | na | na | na |
| ETISX Grade | B | C | C | na | na | na |
| +/- Category | 1.1% | -0.4% | 1.5% | na | na | na |
| Foreign Large Blend Avg | 0.7% | 4.4% | 24.2% | 15.9% | 8.4% | 9.1% |
| ETISX Tax Cost Ratio | na | na | 0.8% | na | na | na |
ETISX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| ETISX Return (NAV) | 11.6% | na | na | na | na | na | na | na | na | na | na |
| ETISX Grade | C | na | na | na | na | na | na | na | na | na | na |
| +/- Category | -0.1% | na | na | na | na | na | na | na | na | na | na |
| Foreign Large Blend Avg | 11.6% | 30.5% | 4.9% | 16.2% | -16.4% | 10.2% | 11.8% | 22.9% | -15.2% | 26.4% | 1.0% |
| Risk Measures | |
| Standard Deviation: | na |
| Total Risk Index: | na |
| Category Risk Index: | na |
| Category Risk Grade: | |
| Beta: | na |
| R-Squared: | na |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Blend |
| Bond Investment Style: | na |
| Yield: | 1.8% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $66 Mil |
| Fund Total Assets: | $ 67 Mil |
| Share Class Type: | Other |
| Portfolio Turnover: | 6% |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 1.3 years | |||
| Average Tenure: 1.3 years | |||
| Managers (Year): Wotherspoon Gordon (2025), Mihara Jennifer (2025) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 978 |
| % in Top 10 Holdings: | 12.4% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 97.4% |
Portfolio Allocation |
|
| Domestic Stock: | 1.2% |
| Foreign Stock: | 97.4% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.4% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.1% |
| Cash: | 0.9% |
Purchase Information
| Fund Family: | Morgan Stanley |
| Phone Number: | 800-869-6397 |
| Website: |
| Status: | Open |
| Inception Date: | April 11, 2025 |
| Min. Initial Purchase: | $ 0 |
| 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 (%): | 0.00% ( Rating : Low ) |
| Category Average Expense Ratio (%): | 0.94% |
| Share Class: | E*TRADE No Fee International Index |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
