Fund Evaluator:

Touchstone Non-US Equity C Overview

Touchstone Non-US Equity C (TEQCX) is an actively managed International Equity Foreign Large Blend fund. Touchstone launched the fund in 2003.

The investment seeks long-term growth of capital. The fund invests, under normal circumstances, at least 80% of its assets in equity securities of non-U.S. companies. The fund’s 80% policy is a non-fundamental investment policy that can be changed by the fund upon 60 days’ prior written notice to shareholders. Equity securities include common stocks, preferred stocks, convertible securities, depositary receipts such as American Depositary Receipts (“ADRs”), Global Depositary Receipts (“GDRs”) and European Depositary Receipts (“EDRs”), and interests in other investment companies, including exchange-traded funds (“ETFs”) that invest in equity securities.

About Touchstone Non-US Equity C (TEQCX)

There are 2 members of the management team with an average tenure of 3.33 years: Michael Seo (2020), Matthew Josephs (2025). Management tenure is more important for actively managed funds than passive index funds.

The fund has 2 primary benchmarks: Bloomberg Gbl Wd ex US L-M NR USD index with a weighting of 100% and MSCI ACWI Ex USA NR USD index with a weighting of 100%. Touchstone Non-US Equity C has 52 securities in its portfolio. The top 10 holdings constitute 40.9% 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.

Touchstone Non-US Equity C is part of the Equity global asset class and is within the International Equity fund group. Touchstone Non-US Equity C has 93.7% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 4.8%. There is 93.7% 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). Touchstone Non-US Equity C has 1.5% of the portfolio in cash.

Assets Under Management

The fund has $10 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.

TEQCX 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 Touchstone Non-US Equity C expense ratio is high compared to funds in the Foreign Large Blend category. Touchstone Non-US Equity C has an expense ratio of 1.92%, which is 104% 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. Touchstone Non-US Equity C has a portfolio turnover rate of 24%, 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, Touchstone Non-US Equity C returned -1.6%, which earned it a grade of F, 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.

Touchstone Non-US Equity C has a trailing yield of 0.45%, 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.

Touchstone Non-US Equity C Grades

Year to date, the fund has returned 11.9%, 0.3 percentage points better than the category, which translates into a grade of C. The fund has returned 23.7% over the past year (grade of D), 17.8% over the past three years (grade of B) and 9.4% per year over the past five years (grade of B) and 10.5% per year over the past 10 years (grade of A).

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