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ICE1Z - MainStay ICAP International I

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MainStay ICAP International I (ICE1Z)
Expense Ratio: 0.95%
Expected Lifetime Fees: $28,436.39


The MainStay ICAP International I fund (ICE1Z) is a Foreign Large Value fund started on 12/31/1997 and has $917.30 million in assets under management. The current manager has been running MainStay ICAP International I since 1/24/1998. The fund is rated by Morningstar. This fund does not charge 12b-1 fees.

MarketRiders Prefers The Following ETF

iShares MSCI EAFE Value Index (EFV)
Expense Ratio: 0.40%
Expected Lifetime Fees: $12,680.81


The iShares MSCI EAFE Value Index (EFV) is an Exchange Traded Fund. It is a "basket" of securities that index the Foreign Large Value investment strategy and is an alternative to a Foreign Large Value mutual fund. Fees are very low compared to a comparable mutual fund like MainStay ICAP International I because computers automatically manage the stocks.




The Following Foreign Large Value Funds Have Lower Fees Than MainStay ICAP International I (ICE1Z). Why are these metrics important?
Mutual Fund Name Ticker Symbol Turnover Assets (M) Annual Fees
AllianceBern Intl Val I AIVIX 52.0% 801 0.86%
Allianz NFJ International Value Instl ANJIX 48.0% 2,000 0.88%
American Beacon International Equity Fund Class Y ABEYX 33.0% 1,200 0.82%
American Beacon Intl Equity AMR AAIAX 33.0% 1,200 0.46%
American Beacon Intl Equity Instl AAIEX 33.0% 1,200 0.71%
American Beacon Intl Equity Instl AAITZ 33.0% 1,200 0.71%
DFA International Core Equity I DFIEX 3.0% 5,300 0.40%
DFA International Value I DFIVX 9.0% 4,800 0.45%
DFA International Value III DFVIX 9.0% 1,100 0.26%
DFA International Value R2 DFIPX 9.0% 4,800 0.71%
DFA Tax-Managed International Value DTMIX 16.0% 1,700 0.55%
Federated Intl Strategic Val Div Instl IVFIX 38.0% 142 0.80%
Goldman Sachs Intl Eq Div & Prem I GIDHX 51.0% 343 0.90%
Goldman Sachs Structured Intl Equity I GCIIX 101.0% 966 0.85%
Goldman Sachs Structured Intl T/M Eq I GHTMX 88.0% 134 0.86%
Lord Abbett Intl Dividend Inc I LAIDX 100.2% 1,300 0.77%
Oppenheimer International Value Y QIVYX 33.0% 595 0.85%
Schwab Fdmtl Intl Lg Co Idx SFNNX 35.0% 345 0.35%
T. Rowe Price Intl Gr & Inc TRIGX 26.3% 4,700 0.87%
Templeton Foreign Adv TFFAX 35.0% 4,900 0.92%
Templeton Instl Foreign Eq Ser Primary TFEQX 9.9% 5,200 0.80%
Vanguard International Value Inv VTRIX 39.0% 5,800 0.39%



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Why Are These Metrics Important?


Turnover
Turnover represents how much of a mutual fund's holdings are changed over the course of a year through buying and selling. Active mutual funds have an average turnover rate of about 85%, meaning that funds are turning over nearly all of their holdings every year. A high turnover means you could make lower returns because: 1) buying and selling stocks costs money through commissions and spreads and 2) the fund will distribute yearly capital gains which increases your taxes. Look for funds with turnover rates below 50%. For comparison, ETF turnover rates average around 10% or lower.

Assets
Generally, smaller funds do better than larger ones. The more assets in a mutual fund, the lower the chance that it will beat its index. Managers outperform an index by choosing stocks that are undervalued. In order to find these undervalued stocks, the manager has to know more than his competitors to develop an "edge." There are only a finite number of stocks a mutual fund manager can reasonably analyze and actively track to gain such a competitive edge. When the fund has more assets, the manager must analyze large companies because he needs to take larger positions. Large companies are more efficiently priced in the market and it becomes increasingly difficult to get an edge.

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