Overseas Stock Fund

Invests in firms with a favorable combination of growth prospects and valuation. Several of the characteristics we look for: accelerating earnings and cash flow growth, reasonable valuation, and barriers to entry at industry and product level.

Investing internationally involves special risks including economic and political uncertainty and currency fluctuation.

Morningstar (Category)

Morningstar
(Overall Rating)1

Foreign Large Blend
  (672 funds)

Data as of 01/31/2021

Data as of 01/31/2021

Fund Manager Tenure2

Net Assets3
(USD)

14yrs
$19.4b

Data as of 01/31/2021

Data as of 01/31/2021

Price
(USD)

Daily Price Change

$12.54
$+0.09

Data as of 03/05/2021

Data as of 03/05/2021

Morningstar Ratings™ are based on risk-adjusted returns. Click on "Overall Rating" for the fund's 3-, 5-, and 10-year (if applicable) Morningstar Ratings™.

Raymond A.  Mills, Ph.D., CFA
Raymond A. Mills, Ph.D., CFA, Portfolio Manager

Raymond A. Mills is the portfolio manager of the International Core Equity Strategy in the International Equity Division. Ray also serves on the Investment Advisory Committees of other international equity, asset allocation, and global real estate strategies. He is a member of the International Equity Steering Committee and the Equity Brokerage and Trading Control Committee. Ray also is a vice president of T. Rowe Price Group, Inc., T. Rowe Price Trust Company, and T. Rowe Price International Ltd.

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Strategy

Investment Objective

The fund seeks long-term growth of capital through investments in the common stocks of non-U.S. companies.

Morningstar Equity Style

Large Blend

Data as of 01/31/2021

The Morningstar Style Box™, a proprietary Morningstar data point, is a 9-square grid that provides a graphical representation of the "investment style" of stocks and mutual funds. See disclaimer at bottom of page for more information.

Morningstar Rating

Period Rating Funds In Category (Foreign Large Blend)
Overall 672
3 Years 672
5 Years 582
10 Years 383

The Morningstar Rating™ for funds, or "star rating", is calculated for funds with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics.

Average Annual Total Returns (Investor Class)

1 YR
9.23%
Benchmark
7.82%
Value
1.41% 3.15%

Data as of 12/31/2020

3 YR
4.48%
Benchmark
4.28%
Value
0.20% 0.29%

Data as of 12/31/2020

5 YR
8.31%
Benchmark
7.45%
Value
0.86% 0.63%

Data as of 12/31/2020

10 YR
6.06%
Benchmark
5.51%
Value
0.55% 0.60%

Data as of 12/31/2020

Benchmark: MSCI EAFE Index Net

Fund Inception: 12/29/2006

Expense Ratio

Gross
0.80%
Net
0.80%

Current performance may be lower or higher than the quoted past performance, which cannot guarantee future results. Share price, principal value, and return will vary and you may have a gain or loss when you sell your shares. Average annual total return figures include changes in principal value, reinvested dividends, and capital gain distributions.

The gross expense ratio reflects the fund expenses as stated in the fee table of the fund's prospectus prior to the deduction of any waiver or reimbursement. The net expense ratio reflects fund expenses after the deduction of any waiver or reimbursement.  If a fund has an active contractual expense limitation, the expiration date is shown below the gross and net expense ratio values above.  Expense ratios are as of the most recent prospectus.

Current Year Performance (Investor Class)

Daily YTD
4.07%
Benchmark
0.66%
Value
3.41%

Data as of 03/05/2021

Monthly YTD
-0.50%
Benchmark
-1.07%
Value
0.57%

Data as of 01/31/2021

One Month
-0.50%
Benchmark
-1.07%
Value
0.57%

Data as of 01/31/2021

Three Months
20.77%
Benchmark
19.58%
Value
1.19%

Data as of 01/31/2021

Benchmark: MSCI EAFE Index Net

Fund Inception: 12/29/2006

Asset Allocation

Net Assets
(USD)
$19.4b

Data as of 01/31/2021

Largest Global ex-US Stock 96.93% $18.8b
Other View complete

Holdings

Total
Holdings
156

Data as of 12/31/2020

Largest Holding Nestle 3.10% Was (09/30/2020) 3.60%
Other View complete Full Holdings
Top 10 Holdings 19.62% View the latest Top 10 Holdings
12-Month Portfolio Turnover 15.6% Data as of 01/31/2021

Largest Contributor

Taiwan Semiconductor Manufacturing
2.11%

Largest Detractor

Unilever
2.08%

Data as of 12/31/2020

Purchase

IGO
0.66%
Was 0.37%

Sale

SAP
0.83%
Was 1.28%

Data as of 12/31/2020

Sectors

Total
Sectors
12

Data as of 01/31/2021

Benchmark: MSCI EAFE Index

Largest Sector Financials 17.05% Was (12/31/2020) 18.00%
Other View complete

Contributor

Information Technology
By 0.74%
Sector 0.06%
Selection 0.69%

Detractor

Consumer Discretionary
By -0.28%
Sector -0.02%
Selection -0.26%

Data as of 12/31/2020

Over

Information Technology
By 4.12%
Fund 13.34%
Benchmark 9.22%

Under

Industrials & Business Services
By -2.54%
Fund 12.74%
Benchmark 15.27%

Data as of 01/31/2021

MSCI index returns are shown with gross dividends reinvested.

Regions

Total
Regions
5

Data as of 01/31/2021

Benchmark: MSCI EAFE Index

Largest Region Europe 57.15% Was (12/31/2020) 57.85%
Other View complete Region Diversification

Contributor

Pacific ex Japan
By 0.75%
Region 0.07%
Selection 0.68%

Detractor

Developed Europe
By -0.51%
Region 0.02%
Selection -0.53%

Data as of 12/31/2020

Over

North America
By 5.07%
Fund 5.15%
Benchmark 0.09%

Under

Europe
By -4.90%
Fund 57.15%
Benchmark 62.05%

Data as of 01/31/2021

Countries

Total
Countries
26

Data as of 01/31/2021

Benchmark: MSCI EAFE Index

Largest Country Japan 22.31% Was (12/31/2020) 22.26%
Other View complete Country Diversification

Over

Canada
By 3.27%
Fund 3.27%
Benchmark 0.00%

Under

Australia
By -3.37%
Fund 3.77%
Benchmark 7.14%

Data as of 01/31/2021

Currency

Total
Currencies
15

Data as of 01/31/2021

Benchmark: MSCI EAFE Index

Largest Currency euro 27.74% Was (12/31/2020) 28.39%
Other View complete Currency Diversification

Over

U.S. dollar
By 5.82%
Fund 6.36%
Benchmark 0.54%

Under

euro
By -4.08%
Fund 27.74%
Benchmark 31.83%

Data as of 01/31/2021

Team (As of )

Raymond A.  Mills, Ph.D., CFA

Raymond A. Mills, Ph.D., CFA
Portfolio Manager

Raymond A. Mills is the portfolio manager of the International Core Equity Strategy in the International Equity Division. Ray also serves on the Investment Advisory Committees of other international equity, asset allocation, and global real estate strategies. He is a member of the International Equity Steering Committee and the Equity Brokerage and Trading Control Committee. Ray also is a vice president of T. Rowe Price Group, Inc., T. Rowe Price Trust Company, and T. Rowe Price International Ltd.

  • Fund manager
    since 2006
  • Years at
    T. Rowe Price 23
  • Years investment
    experience 23
Jason A.  White

Jason A. White
Portfolio Specialist

Jason A. White is a portfolio specialist in the Equity Division. He is a member of the International Equity Investment team, participates in investment strategy calls, and regularly travels with other investment professionals to visit companies around the world. Jason also is a vice president of T. Rowe Price Group, Inc., and T. Rowe Price International Ltd.

  • Years at
    T. Rowe Price 16
  • Years investment
    experience 19

For a complete list of the members of the fund's Investment Advisory Committee, please refer to the fund's prospectus.

How to Invest

View platform information
Share Class Min Initial Investment (USD) Min Subsequent Investment (USD) 12b-1 Fee Expense Ratio
Gross Net Limitation Type Limitation Expiration Date
Investor Class
Cusip 77956H757
$2,500 $100 0.00% 0.80% 0.80% N/A N/A
Advisor Class
Cusip 77956H443
$2,500 $100 0.25% 1.07% 1.07% N/A
N/A
I Class
Cusip 77956H435
$1,000,000* N/A 0.00% 0.66% 0.66% N/A
N/A

* Minimum initial investment $1,000,000. Minimum is generally waived for intermediaries, certain retirement plans, and certain institutional client accounts.

1

© 2021 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.

2

Number of years managing the fund.  In the case of co-portfolio management, the longer tenure is displayed.

3

Figure applies to all share classes.

Source: MSCI.  MSCI makes no express or implied warranties or representations and shall have no liability whatsoever with respect to any MSCI data contained herein.  The MSCI data may not be further redistributed or used as a basis for other indices or any securities or financial products.  This report is not approved, reviewed, or produced by MSCI.

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