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CAUSEWAY INTERNATIONAL VALUE FUND
mutual fund
CIVVX
Payout Change
Pending
Price as of:
$19.95
+0.0
+0.0%
primary theme
International Large-Cap Value Equity
share class
CIVVX (Mutual Fund)
CAUSEWAY INTERNATIONAL VALUE FUND
Payout Change
Pending
Price as of:
$19.95
+0.0
+0.0%
primary theme
International Large-Cap Value Equity
share class
CIVVX (Mutual Fund)
CAUSEWAY INTERNATIONAL VALUE FUND
Payout Change
Pending
Price as of:
$19.95
+0.0
+0.0%
primary theme
International Large-Cap Value Equity
share class
Name
As of 12/19/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
Vitals
YTD Return
2.7%
1 yr return
4.0%
3 Yr Avg Return
7.3%
5 Yr Avg Return
6.5%
Net Assets
$10.9 B
Holdings in Top 10
30.8%
52 WEEK LOW AND HIGH
$20.0
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 1.15%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 60.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$5,000
IRA
$5,000
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 12/19/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
CIVVX - Profile
Distributions
- YTD Total Return 2.7%
- 3 Yr Annualized Total Return 7.3%
- 5 Yr Annualized Total Return 6.5%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 1.73%
- Dividend Yield 1.6%
- Dividend Distribution Frequency None
Fund Details
-
Legal NameCAUSEWAY INTERNATIONAL VALUE FUND
-
Fund Family NameCAUSEWAY CAPITAL MANAGEMENT TRUST
-
Inception DateOct 26, 2001
-
Shares Outstanding20872246
-
Share ClassInvestor
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerHarry Hartford
Fund Description
The Fund invests primarily in common stocks of companies in developed countries outside the U.S. Normally, the Fund invests at least 80% of its total assets in stocks of companies in a number of foreign countries and invests the majority of its total assets in companies that pay dividends or repurchase their shares. The Fund may invest up to 15% of its total assets in companies in emerging (less developed) markets.
The Investment Adviser determines a company’s country by referring to: the stock exchange where its securities are principally traded; where it is registered, organized or incorporated; where its headquarters are located; its MSCI country classification; where it derives at least 50% of its revenues or profits from goods produced or sold, investments made, or services performed; or where at least 50% of its assets are located. These categories are designed to identify investments that are tied economically to, and subject to the risks of, investing outside the U.S. The Fund considers a country to be an emerging market if the country is included in the MSCI Emerging Markets Index.
When investing the Fund’s assets, the Investment Adviser follows a value style, performing fundamental research supplemented by quantitative analysis. Beginning with a universe of all publicly listed companies throughout the non-U.S. developed and emerging markets, the Investment Adviser applies market capitalization and liquidity thresholds to reduce investment candidates to approximately 2,000 equity securities. The Investment Adviser uses quantitative valuation screens to further narrow the potential investment candidates. The Investment Adviser then performs fundamental research, which generally includes company-specific research, company visits, and interviews of suppliers, customers, competitors, industry analysts, and experts. The Investment Adviser also applies a proprietary quantitative risk model to adjust return forecasts based on risk assessments. This process results in risk-adjusted return forecasts for a closely followed group of potential investment candidates. Using a value style means that the Investment Adviser buys stocks that it believes have lower prices than their true worth. For example, stocks may be “undervalued” because the issuing companies are in industries that are currently out of favor with investors. However, even in those industries, certain companies may have high rates of growth of earnings and be financially sound.
The Investment Adviser considers whether a company has each of the following value characteristics in purchasing or selling securities for the Fund:
| • | Low price-to-earnings ratio (stock price divided by earnings per share) relative to the sector |
| • | High yield (percentage rate of return paid on a stock in dividends and share repurchases) relative to the market |
| • | Low price-to-book value ratio (stock price divided by book value per share) relative to the market |
| • | Low price-to-cash flow ratio (stock price divided by net income plus non-cash charges per share) relative to the market |
| • | Financial strength |
Generally, price-to-earnings ratio and yield are the most important factors.
The Fund may invest in companies of any market capitalization, and is not required to invest a minimum amount and is not limited to investing a maximum amount in companies in any particular country.
CIVVX - Performance
Return Ranking - Trailing
| Period | CIVVX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 2.7% | -13.9% | 14.6% | 52.16% |
| 1 Yr | 4.0% | -11.9% | 18.3% | 37.21% |
| 3 Yr | 7.3%* | -4.4% | 78.6% | 10.70% |
| 5 Yr | 6.5%* | -0.6% | 44.0% | 13.17% |
| 10 Yr | 4.9%* | -0.3% | 22.8% | 21.86% |
* Annualized
Return Ranking - Calendar
| Period | CIVVX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 22.8% | 1.0% | 26.9% | 1.96% |
| 2022 | -8.4% | -27.8% | 166.1% | 17.38% |
| 2021 | 7.1% | -66.6% | 64.4% | 59.00% |
| 2020 | 4.0% | -17.0% | 17.3% | 17.42% |
| 2019 | 14.7% | 4.4% | 31.6% | 46.95% |
Total Return Ranking - Trailing
| Period | CIVVX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 2.7% | -13.9% | 14.6% | 52.16% |
| 1 Yr | 4.0% | -11.9% | 18.3% | 37.21% |
| 3 Yr | 7.3%* | -4.4% | 78.6% | 10.70% |
| 5 Yr | 6.5%* | -0.6% | 44.0% | 13.17% |
| 10 Yr | 4.9%* | -0.3% | 22.8% | 21.86% |
* Annualized
Total Return Ranking - Calendar
| Period | CIVVX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 24.8% | 5.4% | 31.0% | 1.96% |
| 2022 | -7.0% | -19.9% | 344.3% | 27.87% |
| 2021 | 8.8% | -0.2% | 75.3% | 84.33% |
| 2020 | 5.1% | -11.8% | 18.9% | 21.95% |
| 2019 | 19.8% | 11.2% | 32.1% | 35.13% |
NAV & Total Return History
CIVVX - Holdings
Concentration Analysis
| CIVVX | Category Low | Category High | CIVVX % Rank | |
|---|---|---|---|---|
| Net Assets | 10.9 B | 3.42 M | 46.7 B | 3.58% |
| Number of Holdings | 70 | 2 | 2513 | 68.08% |
| Net Assets in Top 10 | 3.57 B | 628 K | 14.6 B | 2.61% |
| Weighting of Top 10 | 30.76% | 6.2% | 100.0% | 23.86% |
Top 10 Holdings
- ROLLS-ROYCE HOLDINGS PLC COMMON STOCK 4.46%
- ALSTOM COMMON STOCK 3.55%
- SAMSUNG ELECTRONICS CO LTD COMMON STOCK 3.28%
- BARCLAYS PLC COMMON STOCK 3.25%
- KERING COMMON STOCK 3.21%
- RECKITT BENCKISER GROUP PLC COMMON STOCK 2.85%
- AKZO NOBEL N.V. COMMON STOCK 2.69%
- ROCHE HOLDING AG-GENUSSCHEIN COMMON STOCK 2.52%
- PRUDENTIAL PLC COMMON STOCK 2.51%
- RENESAS ELECTRONICS CORP COMMON STOCK 2.44%
Asset Allocation
| Weighting | Return Low | Return High | CIVVX % Rank | |
|---|---|---|---|---|
| Stocks | 97.60% | 6.62% | 104.54% | 50.81% |
| Cash | 2.40% | 0.00% | 13.78% | 39.09% |
| Preferred Stocks | 0.00% | 0.00% | 3.92% | 99.35% |
| Convertible Bonds | 0.00% | 0.00% | 0.15% | 99.02% |
| Bonds | 0.00% | 0.00% | 100.21% | 99.02% |
| Other | 0.00% | -1.10% | 29.32% | 92.18% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | CIVVX % Rank | |
|---|---|---|---|---|
| Financial Services | 20.05% | 0.00% | 42.76% | 49.67% |
| Healthcare | 16.44% | 0.00% | 23.28% | 9.87% |
| Industrials | 16.14% | 1.03% | 36.79% | 29.28% |
| Consumer Cyclical | 10.53% | 0.00% | 27.46% | 42.11% |
| Consumer Defense | 9.23% | 0.00% | 31.84% | 35.20% |
| Technology | 9.06% | 0.00% | 24.16% | 27.63% |
| Energy | 8.75% | 0.00% | 26.59% | 33.55% |
| Utilities | 5.53% | 0.00% | 27.46% | 19.41% |
| Communication Services | 2.14% | 0.29% | 22.75% | 97.37% |
| Basic Materials | 2.11% | 0.00% | 30.76% | 96.38% |
| Real Estate | 0.00% | 0.00% | 17.06% | 100.00% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | CIVVX % Rank | |
|---|---|---|---|---|
| Non US | 95.27% | 0.00% | 99.66% | 26.71% |
| US | 2.33% | 0.00% | 100.40% | 67.75% |
CIVVX - Expenses
Operational Fees
| CIVVX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 1.15% | 0.01% | 5.99% | 36.81% |
| Management Fee | 0.80% | 0.00% | 1.25% | 85.95% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | N/A | 0.03% | 0.47% | 29.94% |
Sales Fees
| CIVVX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 3.50% | 5.75% | N/A |
| Deferred Load | N/A | 1.00% | 1.00% | N/A |
Trading Fees
| CIVVX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 0.25% | 2.00% | 75.00% |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
| CIVVX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 60.00% | 2.00% | 158.16% | 65.43% |
CIVVX - Distributions
Dividend Yield Analysis
| CIVVX | Category Low | Category High | CIVVX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 1.58% | 0.00% | 13.19% | 93.46% |
Dividend Distribution Analysis
| CIVVX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | None | Quarterly | Quarterly | Quarterly |
Net Income Ratio Analysis
| CIVVX | Category Low | Category High | CIVVX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 1.73% | 0.18% | 7.85% | 78.41% |
Capital Gain Distribution Analysis
| CIVVX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Semi-Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Dec 20, 2023 | $0.316 | OrdinaryDividend |
| Dec 22, 2022 | $0.243 | OrdinaryDividend |
| Dec 21, 2021 | $0.276 | OrdinaryDividend |
| Dec 17, 2020 | $0.179 | OrdinaryDividend |
| Dec 19, 2019 | $0.457 | OrdinaryDividend |
| Dec 19, 2019 | $0.050 | CapitalGainShortTerm |
| Dec 19, 2019 | $0.178 | CapitalGainLongTerm |
| Dec 20, 2018 | $0.108 | CapitalGainLongTerm |
| Dec 20, 2018 | $0.339 | OrdinaryDividend |
| Dec 21, 2017 | $0.297 | OrdinaryDividend |
| Dec 22, 2016 | $0.233 | OrdinaryDividend |
| Dec 23, 2015 | $0.238 | OrdinaryDividend |
| Dec 18, 2014 | $0.340 | OrdinaryDividend |
| Dec 18, 2013 | $0.132 | OrdinaryDividend |
| Dec 19, 2012 | $0.250 | OrdinaryDividend |
| Dec 20, 2011 | $0.354 | OrdinaryDividend |
| Dec 07, 2010 | $0.162 | OrdinaryDividend |
| Dec 15, 2009 | $0.167 | OrdinaryDividend |
| Dec 12, 2008 | $0.455 | CapitalGainLongTerm |
| Dec 12, 2008 | $0.480 | OrdinaryDividend |
| Dec 20, 2007 | $0.661 | CapitalGainShortTerm |
| Dec 20, 2007 | $3.344 | CapitalGainLongTerm |
| Dec 20, 2007 | $0.405 | OrdinaryDividend |
| Dec 28, 2006 | $0.022 | CapitalGainShortTerm |
| Dec 28, 2006 | $0.865 | CapitalGainLongTerm |
| Dec 28, 2006 | $0.186 | OrdinaryDividend |
| Dec 15, 2005 | $0.196 | CapitalGainShortTerm |
| Dec 15, 2005 | $0.383 | CapitalGainLongTerm |
| Dec 15, 2005 | $0.337 | OrdinaryDividend |
| Dec 16, 2004 | $0.138 | CapitalGainShortTerm |
| Dec 16, 2004 | $0.309 | CapitalGainLongTerm |
| Dec 16, 2004 | $0.238 | OrdinaryDividend |
| Dec 17, 2003 | $0.034 | CapitalGainShortTerm |
| Dec 17, 2003 | $0.055 | CapitalGainLongTerm |
| Dec 17, 2003 | $0.162 | OrdinaryDividend |
| Dec 18, 2002 | $0.041 | CapitalGainShortTerm |
| Dec 18, 2002 | $0.065 | OrdinaryDividend |
| Dec 27, 2001 | $0.006 | OrdinaryDividend |
CIVVX - Fund Manager Analysis
Managers
Harry Hartford
Start Date
Tenure
Tenure Rank
Oct 26, 2001
20.61
20.6%
Harry Hartford is the President of Causeway Capital Management. Mr. Hartford has served as portfolio manager and President since 2001. He is responsible for investment research in global basic materials and banks. From 1996 to 2001, Mr. Hartford was a Managing Director for the Hotchkis and Wiley division of MLIM, and co-head of the International and Global Value Team. Mr. Hartford has been in the investment community since 1984.
Sarah Ketterer
Start Date
Tenure
Tenure Rank
Oct 26, 2001
20.61
20.6%
Ms. Ketterer is the chief executive officer of Causeway, portfolio manager for the firm's fundamental and absolute returns strategies, and is responsible for investment research across all sectors. Ms. Ketterer is a member of Causeway's operating committee. She co-founded the firm in June 2001.
Jonathan Eng
Start Date
Tenure
Tenure Rank
Jan 30, 2006
16.34
16.3%
Mr. Eng is a director and fundamental portfolio manager of Causeway and has been with the firm since July 2001. He is responsible for investment research in the global consumer discretionary, industrials and materials sectors. He has been a portfolio manager since February 2002. PRIOR EXPERIENCE From 1997 to July 2001, Mr. Eng was an equity research associate for the Hotchkis and Wiley division of Merrill Lynch Investment Managers. In 1996, Mr. Eng worked as a summer research associate for Hotchkis and Wiley, performing U.K. and European equity research.
Conor Muldoon
Start Date
Tenure
Tenure Rank
Dec 31, 2010
11.42
11.4%
Mr. Muldoon is a director and fundamental portfolio manager of Causeway and is responsible for investment research in the global financials and materials sectors. He joined the firm in August 2003 and has been a portfolio manager since September 2010. PRIOR EXPERIENCE From 1995 to June 2003, Mr. Muldoon was an investment consultant for Fidelity Investments where he served as a liaison between institutional clients and investment managers within Fidelity.
Alessandro Valentini
Start Date
Tenure
Tenure Rank
Dec 31, 2013
8.42
8.4%
Alessandro Valentini is a Director and fundamental portfolio manager of Causeway and is responsible for research in the global health care and financial sectors. Mr. Valentini joined the firm in July 2006 as a Research Associate and became a Portfolio Manager in 2013. During the summer of 2005, Mr. Valentini worked as a research analyst at Thornburg Investment Management. From 2000 to 2004, Mr. Valentini worked as a financial analyst at Goldman Sachs in the European Equities Research-Sales division in New York.
Ellen Lee
Start Date
Tenure
Tenure Rank
Jan 28, 2015
7.34
7.3%
Ms. Lee is a director and fundamental portfolio manager at Causeway. She joined the firm in August 2007 and has been a portfolio manager since January 2015. During the summer of 2006, Ms. Lee interned at Tiger Asia. From 2001 to 2004, Ms. Lee was an associate in the mergers and acquisitions division of Credit Suisse First Boston in Seoul. From 1999 to 2000, she was an analyst in the mergers and acquisitions division of Credit Suisse First Boston in Hong Kong.
Steven Nguyen
Start Date
Tenure
Tenure Rank
Jan 25, 2019
3.35
3.4%
Steven Nguyen is a Director and Fundamental Portfolio Manager of Causeway and is responsible for investment research in the global energy, utilities and health care sectors. He joined the firm in April 2012. From 2006 to 2012, Mr. Nguyen was a Senior Credit Analyst at Bradford & Marzec covering high yield and investment grade companies in the telecommunication services, cable, media, gaming, insurance, and REIT industries. From 2003 to 2006, Mr. Nguyen was a Credit Analyst/Portfolio Manager in the corporate bond department of Allegiance Capital.
Brian Cho
Start Date
Tenure
Tenure Rank
Jan 28, 2021
1.34
1.3%
Mr. Cho is a fundamental portfolio manager at Causeway. He joined the firm in September 2013 and has been a portfolio member since January 2021. His current responsibilities include coverage of companies in the technology and communication services sectors. From 2011 to 2013, Mr. Cho was a vice president at BofA-ML Equity Research, covering the IT hardware and supply chain sector. From 2007 to 2011, he worked as an associate at Goldman Sachs Equity Research covering the same sector. From 2006 to 2007, he worked as an analyst at Morgan Stanley Equity Research covering the internet and interactive software sector. Prior to that, he worked as an analyst at PA Consulting Group in the financial services practice. Mr. Cho earned a BSc in management science from Massachusetts Institute of Technology.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.25 | 29.68 | 7.74 | 0.54 |
