HLMSX Performance — Harding Loevner International Small Companies Portfolio, Investor Class
Data updated: 2026-09-28
HLMSX returned +7.71% year to date and +6.82% over one year to Jul 2026. Annualised returns are +5.27% over 3 years and −0.29% over 5 years. The fund trailed its International Mid-Cap Blend category average: $100 invested three years ago grew to $117, against $152 for the category, and to $107 over one year, against $120. Volatility over the past three years was 14.91% a year. In the 12 months to Jul 2026 the fund lost a net $104.1M, and assets reached $173.71M.
HLMSX Growth of $100
What $100 invested in Harding Loevner International Small Companies Portfolio grew to, compounded from monthly returns reported on SEC Form N-PORT, against the International Mid-Cap Blend category average over the same months.
| Period | HLMSX | Category average |
|---|---|---|
| 1 year (Aug 2025 – Jul 2026) | $107 | $120 |
| 3 years (Aug 2023 – Jul 2026) | $117 | $152 |
| 5 years (Aug 2021 – Jul 2026) | $99 | $143 |
| Since data start (Aug 2019 – Jul 2026) | $144 | $191 |
HLMSX Trailing Returns
Total returns to Jul 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +7.71% |
| 1 year | +6.82% |
| 3 years (annualised) | +5.27% |
| 5 years (annualised) | −0.29% |
HLMSX Annual Returns
Calendar-year total returns of Harding Loevner International Small Companies Portfolio, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–Jul) | +7.71% |
| 2025 | +14.85% |
| 2024 | −6.90% |
| 2023 | +11.75% |
| 2022 | −24.52% |
| 2021 | +12.85% |
| 2020 | +18.54% |
| 2019 (Aug–Dec) | +10.53% |
HLMSX Monthly Returns
Monthly total returns as reported on SEC Form N-PORT.
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | +2.7% | +1.7% | −7.3% | +7.2% | +3.4% | −2.0% | +2.5% | — | — | — | — | — |
| 2025 | +4.9% | −2.3% | −0.5% | +6.1% | +5.2% | +4.4% | −2.6% | +2.3% | −1.1% | −3.2% | −0.2% | +1.5% |
| 2024 | −4.6% | +1.7% | +2.5% | −4.5% | +4.4% | −3.4% | +4.3% | +2.2% | +2.0% | −5.7% | −1.8% | −3.5% |
| 2023 | +6.7% | −3.7% | +1.2% | +3.0% | −3.6% | +3.9% | +2.8% | −2.7% | −6.6% | −5.1% | +10.4% | +6.4% |
| 2022 | −9.4% | −2.7% | −2.5% | −8.5% | −1.4% | −8.1% | +6.4% | −3.6% | −8.9% | +3.5% | +11.1% | −1.3% |
| 2021 | +0.7% | −1.8% | +0.3% | +5.0% | +3.3% | −0.1% | +3.6% | +5.0% | −6.0% | +3.2% | −4.2% | +4.0% |
| 2020 | −3.3% | −8.3% | −16.8% | +11.2% | +10.4% | +1.1% | +4.8% | +6.0% | +1.0% | −1.7% | +9.0% | +7.6% |
| 2019 | — | — | — | — | — | — | — | −2.9% | +1.2% | +3.2% | +4.8% | +3.9% |
HLMSX Risk
Risk measures from monthly returns over Aug 2023 – Jul 2026.
- 3-year volatility (annualised): 14.91%
- 3-year Sharpe ratio: 0.05 (vs 4.5% risk-free rate)
- Best month: +10.40% (Nov 2023)
- Worst month: −7.34% (Mar 2026)
HLMSX Fund Flows
Monthly money in and out of Harding Loevner International Small Companies Portfolio, from SEC Form N-PORT.
- 12-month net flow: −$104.1M
- 12-month gross sales (incl. reinvestments): $33.1M
- Sales ÷ redemptions: 0.24×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| Jul 2026 | $617K | $1.8M | −$1.2M |
| Jun 2026 | $1.4M | $10.5M | −$9.1M |
| May 2026 | $669K | $11.2M | −$10.5M |
| Apr 2026 | $449K | $17.0M | −$16.5M |
| Mar 2026 | $1.1M | $13.6M | −$12.5M |
| Feb 2026 | $1.1M | $30.9M | −$29.8M |
| Jan 2026 | $1.8M | $7.2M | −$5.4M |
| Dec 2025 | $12.9M | $17.1M | −$4.3M |
| Nov 2025 | $1.5M | $12.8M | −$11.3M |
| Oct 2025 | $6.4M | $9.3M | −$2.9M |
| Sep 2025 | $2.1M | $2.4M | −$333K |
| Aug 2025 | $3.0M | $3.4M | −$369K |
HLMSX Assets Under Management
Net assets of Harding Loevner International Small Companies Portfolio by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-07-31 | $173.71M |
| 2026-04-30 | $187.80M |
| 2026-01-30 | $245.54M |
| 2025-10-31 | $267.14M |
| 2025-07-31 | $276.08M |
| 2025-04-30 | $301.39M |
| 2025-01-31 | $429.56M |
| 2024-10-31 | $454.42M |
| 2024-07-31 | $494.54M |
| 2024-04-30 | $509.25M |
| 2024-01-31 | $528.21M |
| 2023-10-31 | $468.87M |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.