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Frequent Contributor

FMIJX/FMIYX drops from 5* to 3*

FMI is a good shop on most counts, and its funds have, most of the time, outperformed their categories. But just a heads up, to those who watch or own diversified foreign funds. FMIJX/FMIYX was a top 5* fund for a number of years, but dropped recently to 3*. Current M* performance figures are here.

Just having a rough year, that's all. I own some - not adding, not selling. Ironically, the fund should be benefitting from a strong dollar because it fully hedges currency movements.

OAKIX/OAYIX, on the other hand, is having an excellent year, after a miserable 2018. Perhaps because OAKIX is more Value, while FMIJX is Blend.

Move FMIYX -> OAKIX?

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Explorer ○○

Re: FMIJX/FMIYX drops from 5* to 3*

Part of the issue is that M* treats FMIJX and FMIYX as separate funds, even though they have the same portfolio.  Only the ER is different.  FMIJX has 4 stars.  FMIYX now has only 3.  But they are the same fund.  M* counts only the last 3 years of performance for FMIYX since FMI created this separate share class - with the lower ER - 3 years ago.  So FMIYX does not get the benefit of the superior performance in the earlier years.  This anomaly is misleading to many investors.

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