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VG International Core Stock VWICX / VZICX

Opinions sought from owners or would-be owners (or others).

I want to add foreign exposure, but my other foreign funds are growthy, and big enough. And I want to avoid DODFX-like value traps.

An article on the new fund last year, with a little information on the managers.

https://www.prnewswire.com/news-releases/vanguard-adds-to-its-active-lineup-with-launch-of-internati...

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Re: VG International Core Stock VWICX / VZICX


I own this fund.  I purchased it on the strength of my faith in Wellington management; it diversifies my otherwise heavy bet on the international index as a core international holding.  

On the plus side, it has a good blend of developed and emerging markets equities, and isn’t too heavily skewed to value (or growth, but with Wellington, you’d suspect value).  The performance so far is middling or worse, but it has a very short track record.  I’ll keep adding for a few years and see what happens.

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Re: VG International Core Stock VWICX / VZICX

The Portfolio pages from VG (link) and M* (link).

There really isn't much to go on yet. The fund is just too new. On the face of it, it has some attractive features and could be promising. Not much one can do except watch and wait, or buy some and watch and wait.

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Re: VG International Core Stock VWICX / VZICX


@theorist wrote:

On the plus side, it has a good blend of developed and emerging markets equities, and isn’t too heavily skewed to value (or growth, but with Wellington, you’d suspect value).


Interestingly, the article linked below notes:

  • Kenneth L. Abrams, senior managing director and equity portfolio manager. A longtime portfolio manager for Vanguard Explorer™ Fund, Mr. Abrams has employed Wellington Management's Global Perspectives strategy for 12 years with a focus on mid-and small-cap companies. 

Explorer (VEXPX) is, of course, a growth fund.

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Re: VG International Core Stock VWICX / VZICX

After a lot of restructuring over the past couple of weeks, I finally ran Instant X-Ray to see how things looked. My foreign allocation turned out to be a lot lower than I thought. I’ll look at VZICX for foreign exposure. 

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Re: VG International Core Stock VWICX / VZICX

I noticed you’re also a VWILX fan, and so must be ok with growth tilts.  If you’re looking for even more international after adding the International Core Stock Fund, you might also check our PRGSX, the T Rowe Price global stock fund.  It is 50/50 US / ex-US and has a strong growth tilt, with a fairly diversified portfolio.  It has been very solid performer. 

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Re: VG International Core Stock VWICX / VZICX

Yeah, PRGSX results have been super. But I’d prefer to keep US and foreign exposures separate. (Not that easy, as even “US” and “foreign” funds all seem to cross over by 10% or more.)

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Re: VG International Core Stock VWICX / VZICX

 

This fund has a great subadvisor (Wellington) and a low expense ratio. I was considering VZICX but decided against it for now. I could not ascertain Kenneth Abrams' record when he was one of the managers at the Vanguard Explorer Fund*. Vanguard would not disclose this information. Also, managing a domestic mid-cap growth fund is different than managing an international large blend fund. A manager's performance in the first fund category may not lead to similar results in the second category. 

*This is one of Vanguard's actively managed funds that has too many subadvisors (five currently).

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Re: VG International Core Stock VWICX / VZICX

Interesting piece from VG on the Fund:

https://institutional.vanguard.com/VGApp/iip/site/institutional/researchcommentary/article/NewsInstI...

I’m somewhat concerned that Abrams’ role will be something like “Wellington collaboration coordinator”.

If Mr. Abrams has been managing a US small cap growth fund (VEXPX) for 12 years, why choose him for international?

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Re: VG International Core Stock VWICX / VZICX

FMIJX has been a good fund in the past with a hefty yield. I have not owned it for a few years.


@chang wrote:

Opinions sought from owners or would-be owners (or others).

I want to add foreign exposure, but my other foreign funds are growthy, and big enough. And I want to avoid DODFX-like value traps.

An article on the new fund last year, with a little information on the managers.

https://www.prnewswire.com/news-releases/vanguard-adds-to-its-active-lineup-with-launch-of-internati...


 

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Re: VG International Core Stock VWICX / VZICX


@chang wrote:

Interesting piece from VG on the Fund:

https://institutional.vanguard.com/VGApp/iip/site/institutional/researchcommentary/article/NewsInstI...

I’m somewhat concerned that Abrams’ role will be something like “Wellington collaboration coordinator”.

If Mr. Abrams has been managing a US small cap growth fund (VEXPX) for 12 years, why choose him for international?

Is anyone concerned about the overweight allocation to Japan?


 

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Re: VG International Core Stock VWICX / VZICX


@rhythmmethod wrote:

Is anyone concerned about the overweight allocation to Japan?

M* says the FLB Category avg weight to Japan is 21.67%, and the Index (MSCI ACWI Ex USA) avg weight to Japan is 16.98%.

https://www.morningstar.com/funds/xnas/vzicx/portfolio

So I’m not sure they’re “overweight” Japan...

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Re: VG International Core Stock VWICX / VZICX

I'm a current holder of FMIJX and I am having a hard time stomaching the recent drop. I held this fund as a more conservative "protection on the downside" fund that FMI has been known for. It's gotten annihilated this year, with little steam when equities rallied after the drop. I truly expected a different pattern out of this fund. Seeing that it typically lags during a rally I am failing to see the what role it plays now that it's gotten creamed along with everyone else. 

Been tempted to swap it out for another International/Global fund the last few weeks. Not opposed to ever holding it again but seems like little reason to hold it at this time

 

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Re: VG International Core Stock VWICX / VZICX


@chang wrote:

@rhythmmethod wrote:

Is anyone concerned about the overweight allocation to Japan?

M* says the FLB Category avg weight to Japan is 21.67%, and the Index (MSCI ACWI Ex USA) avg weight to Japan is 16.98%.

https://www.morningstar.com/funds/xnas/vzicx/portfolio

So I’m not sure they’re “overweight” Japan...


You’re correct. Just overweight by my skinny Japan dietary threshold.

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Re: VG International Core Stock VWICX / VZICX


@rhythmmethod wrote:
You’re correct. Just overweight by my skinny Japan dietary threshold.

What are your concerns about Japan exposure?

My workhorse Asia fund, MIAPX (MPACX), is 44% Japan per M*. Actually the category average is also 44% (“Diversified Pacific/Asia”).

This particular fund has a lot of mid-caps, and a lot of health care stocks. If the coronavirus vaccine pops out of a small Japanese healthcare lab....

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Japan

@rhythmmethod Just following up on Japan. Nikkei 225 chart for the last three months looks pretty good. I don’t see reasons to lighten up.

China ... yeah, maybe ... that deserves watching.

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Re: VG International Core Stock VWICX / VZICX


@chang wrote:

@rhythmmethod wrote:
You’re correct. Just overweight by my skinny Japan dietary threshold.

What are your concerns about Japan exposure?

My workhorse Asia fund, MIAPX (MPACX), is 44% Japan per M*. Actually the category average is also 44% (“Diversified Pacific/Asia”).

This particular fund has a lot of mid-caps, and a lot of health care stocks. If the coronavirus vaccine pops out of a small Japanese healthcare lab....

I think you are right @chang. My opinion was influenced one night by a five-girl band in Beijing and rice whiskey. They made me promise to stay out of Japanese stockings and I only remembered stocks...


 

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