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A Surprisingly Healthy First Half for International-Stock Funds

A midyear review shows that investors found bright spots amid the turmoil.

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Given the steady stream of alarming headlines about the Greek crisis and the wild swings in Chinese stock markets, it may sound surprising that the first half of 2015 was not as tumultuous overall as the latter part of 2014 for stock markets outside the United States.

Late last year, energy prices were tumbling and the Russian ruble crashing along with them, while India continued to soar, capping a very strong year. Major currencies fell against the U.S. dollar. International-stock funds felt the pain; not one of the Morningstar Style Box category averages for international-stock funds topped even the worst-performing U.S. stock category. But a few funds, typically with hefty doses of India and minimal stakes in energy, managed to stand out.

Gregg Wolper has a position in the following securities mentioned above: DODFX. Find out about Morningstar’s editorial policies.