Fund Evaluator:
Wasatch International Opps Inv (WAIOX)
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Best Performing in Foreign Small/Mid Growth Over the Last Year
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Fund Details
Wasatch International Opps Inv Overview
Wasatch International Opps Inv (WAIOX) is an actively managed International Equity Foreign Small/Mid Growth fund. Wasatch launched the fund in 2005.
The investment seeks long-term growth of capital. The fund invests primarily in foreign micro cap companies. It will invest its assets primarily in the equity securities of foreign micro-capitalization companies. The fund may invest a significant amount of its total assets at the time of purchase in securities issued by companies domiciled in emerging markets and frontier markets. It may invest a large percentage of its assets in a few sectors. These sectors were information technology, industrials, financials, health care, and communication services.
About Wasatch International Opps Inv (WAIOX)
There are 4 members of the management team with an average tenure of 0.41 years: Mark Madsen (2026), Justin Weaver (2026), Chris Leikhim (2026), Kai Pan (2026). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: MSCI ACWI Ex USA NR USD index with a weighting of 100% and MSCI ACWI Ex USA Small NR USD index with a weighting of 100%. Wasatch International Opps Inv has 54 securities in its portfolio. The top 10 holdings constitute 33.7% 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.
Wasatch International Opps Inv is part of the Equity global asset class and is within the International Equity fund group. Wasatch International Opps Inv has 99.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0%. There is 99.0% 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). Wasatch International Opps Inv has 1.0% of the portfolio in cash.
Assets Under Management
The fund has $24 million in total assets, which is below the $327 million average for the Foreign Small/Mid Growth 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.
WAIOX 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 Wasatch International Opps Inv expense ratio is high compared to funds in the Foreign Small/Mid Growth category. Wasatch International Opps Inv has an expense ratio of 1.95%, which is 59% 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. Wasatch International Opps Inv has a portfolio turnover rate of 25%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 64% for the Foreign Small/Mid Growth category.
Recently, in the month of June 2026, Wasatch International Opps Inv returned -1.5%, which earned it a grade of B, as the Foreign Small/Mid Growth category had an average return of -2.7%. 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.
Wasatch International Opps Inv has a trailing yield of 0.00%, which is below the 1.42% 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.
Wasatch International Opps Inv Grades
Year to date, the fund has returned 7.3%, 1.6 percentage points worse than the category, which translates into a grade of C. The fund has returned -6.8% over the past year (grade of F), 4.6% over the past three years (grade of F) and -6.7% per year over the past five years (grade of F) and 4.0% per year over the past 10 years (grade of F).
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WAIOX Trailing NAV Total Returns Data as of 6/30/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| WAIOX Return (NAV) | -1.5% | 16.4% | -6.8% | 4.6% | -6.7% | 4.0% |
| WAIOX Grade | B | A | F | F | F | F |
| +/- Category | 1.1% | 6.1% | -17.5% | -7.1% | -7.7% | -3.3% |
| Foreign Small/Mid Growth Avg | -2.7% | 10.2% | 10.8% | 11.8% | 0.9% | 7.3% |
| WAIOX Tax Cost Ratio | na | na | 9.8% | 3.4% | 2.6% | 1.7% |
WAIOX Annual NAV Total ReturnsData as of 6/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| WAIOX Return (NAV) | 7.3% | 1.8% | -4.5% | 10.6% | -36.6% | -1.4% | 41.7% | 32.2% | -14.7% | 27.6% | 4.3% |
| WAIOX Grade | C | F | D | D | F | F | A | A | B | F | A |
| +/- Category | -1.6% | -19.0% | -5.4% | -2.8% | -8.0% | -11.3% | 16.4% | 4.4% | 1.5% | -7.7% | 5.0% |
| Foreign Small/Mid Growth Avg | 8.8% | 20.8% | 0.9% | 13.4% | -28.6% | 9.9% | 25.4% | 27.8% | -16.2% | 35.3% | -0.7% |
| Risk Measures | |
| Standard Deviation: | 17.0% |
| Total Risk Index: | 1.40 - High |
| Category Risk Index: | 1.03 - Above Average |
| Category Risk Grade: | D (65% Rank) |
| Beta: | 1.00 |
| R-Squared: | 66% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Small-Cap Growth |
| Bond Investment Style: | na |
| Yield: | 0.0% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $28 Mil |
| Fund Total Assets: | $ 25 Mil |
| Share Class Type: | Inv |
| Portfolio Turnover: | 25% |
Management Team
| Number of Managers: 4 | |||
| Longest Tenure: 0.4 years | |||
| Average Tenure: 0.4 years | |||
| Managers (Year): Madsen Mark (2026), Weaver Justin (2026), Leikhim Chris (2026), Pan Kai (2026) | |||
Portfolio Composition (as of 3/31/26)
| # of Holdings: | 54 |
| % in Top 10 Holdings: | 33.7% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 99.0% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 99.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 1.0% |
Purchase Information
| Fund Family: | Wasatch |
| Phone Number: | 800-551-1700 |
| Website: | www.wasatchfunds.com |
| Status: | Open |
| Inception Date: | January 27, 2005 |
| Min. Initial Purchase: | $2,000 |
| Min. Initial IRA Purchase: | $2,000 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 2.00% |
| 12b-1 Fee: | na |
Expenses and Fees | |
| Expense Ratio (%): | 1.95% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.22% |
| Share Class: | Wasatch International Opps Inv |
| Min. Subsequent Purchase: | $ 100 |
| Min. Subsequent IRA Purchase: | $ 100 |
