Fund Evaluator:

Hotchkis & Wiley International Value I Overview

Hotchkis & Wiley International Value I (HWNIX) is an actively managed International Equity Foreign Large Value fund. Hotchkis & Wiley launched the fund in 2015.

The investment seeks capital appreciation. The fund invests primarily in non-U.S. companies, which may include companies located or operating in developed or emerging markets. The Advisor determines where a company is located, and thus whether a company is located outside the U.S. or in an emerging market, by referring to: (i) its primary stock exchange listing; (ii) where it is registered, organized or incorporated; (iii) where its headquarters are located; (iv) where it derives at least 50% of its revenues or profits from goods produced or sold, investments made, or services performed; or (v) where at least 50% of its assets are located.

About Hotchkis & Wiley International Value I (HWNIX)

There are 3 members of the management team with an average tenure of 9.59 years: Scott Rosenthal (2015), Hunter Doble (2018), David Green (2015). 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 ex USA NR USD index with a weighting of 100%. Hotchkis & Wiley International Value I has 57 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.

Hotchkis & Wiley International Value I is part of the Equity global asset class and is within the International Equity fund group. Hotchkis & Wiley International Value I has 96.9% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 2.5%. There is 96.9% 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). Hotchkis & Wiley International Value I has 0.7% of the portfolio in cash.

Assets Under Management

The fund has $4 million in total assets, which is below 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.

HWNIX 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 Hotchkis & Wiley International Value I expense ratio is above average compared to funds in the Foreign Large Value category. Hotchkis & Wiley International Value I has an expense ratio of 0.70%, which is 33% 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. Hotchkis & Wiley International Value I has a portfolio turnover rate of 35%, 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, Hotchkis & Wiley International Value I returned 4.3%, 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.

Hotchkis & Wiley International Value I has a trailing yield of 2.12%, 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.

Hotchkis & Wiley International Value I Grades

Year to date, the fund has returned 17.7%, 2.8 percentage points better than the category, which translates into a grade of B. The fund has returned 33.5% over the past year (grade of B), 22.2% over the past three years (grade of A) and 16.4% per year over the past five years (grade of A) and 11.5% per year over the past 10 years (grade of A).

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