Fund Evaluator:

Mondrian Emerging Markets Value Equity Overview

Mondrian Emerging Markets Value Equity (MPEMX) is an actively managed International Equity Diversified Emerging Mkts fund. Mondrian launched the fund in 2007.

The investment seeks long-term total return. Under normal circumstances, the fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in the equity securities of emerging markets issuers. It may purchase securities of non-U.S. issuers directly or indirectly in the form of American, European or Global depositary receipts or other securities representing underlying shares of non-U.S. issuers.

About Mondrian Emerging Markets Value Equity (MPEMX)

There are 3 members of the management team with an average tenure of 12.98 years: Dan Kelly (2025), Andrew Miller (2007), Ginny Chong (2007). 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%. Mondrian Emerging Markets Value Equity has 65 securities in its portfolio. The top 10 holdings constitute 43.6% 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.

Mondrian Emerging Markets Value Equity is part of the Equity global asset class and is within the International Equity fund group. Mondrian Emerging Markets Value Equity has 99.2% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0%. There is 99.2% 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). Mondrian Emerging Markets Value Equity has 0.8% of the portfolio in cash.

Assets Under Management

The fund has $23 million in total assets, which is below the $967 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.

MPEMX 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 Mondrian Emerging Markets Value Equity expense ratio is high compared to funds in the Diversified Emerging Mkts category. Mondrian Emerging Markets Value Equity has an expense ratio of 0.92%, which is 20% 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. Mondrian Emerging Markets Value Equity has a portfolio turnover rate of 44%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 68% for the Diversified Emerging Mkts category.

Recently, in the month of July 2026, Mondrian Emerging Markets Value Equity returned 1.2%, which earned it a grade of A, as the Diversified Emerging Mkts category had an average return of -4.9%. 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.

Mondrian Emerging Markets Value Equity has a trailing yield of 3.51%, which is above the 1.72% 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.

Mondrian Emerging Markets Value Equity Grades

Year to date, the fund has returned 12.2%, 6.8 percentage points worse than the category, which translates into a grade of F. The fund has returned 29.6% over the past year (grade of D), 17.2% over the past three years (grade of C) and 7.9% per year over the past five years (grade of B) and 7.5% per year over the past 10 years (grade of D).

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