IVIQX — IVA International Fund

Data updated: 2021-05-24

IVIQX — IVA International Fund. Money Market · $288.95M AUM · 0.95% expense ratio · 28.2% 1-yr return. Holdings, fees, performance and SEC filings.

IVIQX Fund Overview

IVIQX — IVA International Fund is a US mutual fund managed by IVA Fiduciary Trust, categorised as Money Market. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.

Type: US mutual fund
Manager: IVA Fiduciary Trust
Category: Money Market
Assets under management: $288.95M
1-year return: 28.2%
Ticker: IVIQX
SEC CIK: 0001437921
SEC series ID: S000023282
Share class ID: C000068090

IVIQX Investment Objective and Strategy

IVA International Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by IVA Fiduciary Trust.

Investment objective

The IVA International Fund (the International Fund) will seek long-term growth of capital by investing in a range of securities and asset classes from markets around the world.

Principal investment strategy

To achieve its investment objective, the International Fund primarily seeks investment opportunities in companies of any capitalization that International Value Advisers, LLC, the Funds investment adviser (the Adviser), believes have fundamental value, financial strength and stability. The International Fund may, however, invest in companies with fundamental value that do not have the other characteristics. The Adviser, under normal market conditions, will invest no less than 30%, although it intends to invest at least 65%, of the International Funds total assets in equity and debt securities issued by foreign companies and governments. The Adviser may invest the Funds assets in any region of the world. It may invest in companies based in emerging markets, typically in the Far East, Latin America and Eastern Europe, as well as in companies operating in developed countries, such as those of Australia, Canada, Japan and Western Europe.

The International Fund identifies investment opportunities through intensive research of individual companies and generally does not focus or rely on current stock market conditions and other macro factors when assessing potential investment opportunities. For these reasons, the International Fund may seek investments in the equity securities of companies in industries that are believed to be temporarily depressed. The International Fund determines an issuers economic ties to a particular country based on the location where such issuer is headquartered or incorporated, or the location from where the issuer derives at least 50% of its revenues or profits, if such location is other than the location where such issuer is headquartered or incorporated. Under normal circumstances, no one position in equity securities will exceed 5% of the total assets of the International Fund at the time of investment.

If the International Funds position in one of the below referenced securities exceeds 5% of the International Funds total assets after the time of investment, the International Fund may continue to hold such securities. As part of its principal investment strategies, the International Fund intends to invest in: (a) foreign and domestic common and preferred equity securities and American Depositary Receipts (ADRs); (b) foreign and domestic fixed income securities; and (c) precious metals, primarily through gold bullion and gold mining securities. The Fund may invest in fixed income securities of any credit quality, including those rated investment grade (rated in one of the four highest ratings categories by Moodys Investors Service (Moodys) or Standard & Poors Ratings Services (S&P)) and those considered high-yield and rated below investment grade (rated Ba or lower by Moodys or BB or lower by S&P, commonly referred to as junk bonds).

Under normal circumstances, the International Fund will invest in the following fixed income securities: notes, bills and debentures, bank debt obligations and structured notes; high-yield debt securities rated below investment grade, convertible securities, Rule 144A securities and structured notes (Rule 144A securities are restricted securities that can be resold to qualified institutional buyers but not to the general public); and securities issued by supranational organizations and sovereign debt securities. Any investments in unrated bonds will be evaluated by the Adviser to determine the comparative credit quality of the unrated debt. In selecting debt securities to achieve the International Funds investment objective, the Adviser will consider the likelihood of default and the potential for capital appreciation.

The International Fund may purchase precious metals in any form (bullion and coins or contract form). The Fund intends, however, to purchase only those forms of precious metals that are readily marketable and that can be stored in accordance with custody regulations applicable to mutual funds. The Adviser will consider selling a security when it determines that such security no longer offers fundamental value or financial strength and stability. As a result of the Advisers disciplined investment process, from time to time, and for extended periods of time, the International Fund may hold a substantial position in cash or money market instruments which may be used to take advantage of future investment opportunities, meet redemption requests, or make other anticipated cash payments without selling portfolio securities.

During periods of rising securities prices, a substantial cash position may result in cash drag, i.e., the opportunity cost of not being fully invested. The International Fund may invest a portion of its assets in derivative instruments. These include forward contracts and futures contracts. The International Fund may invest in derivatives primarily to seek to hedge exposure to certain markets and securities and/or for speculative ( i.e ., non-hedging) purposes. The International Fund may seek to hedge its exposure to foreign currencies, typically through the use of foreign currency derivatives, including currency forward contracts and may engage in currency transactions with counterparties to gain or reduce exposure to certain currencies or to generate income or gains.

IVIQX Performance

Total returns for IVIQX (as of 2026-10-01), from SEC filings.

Period	Total return
1 year	28.2%

IVIQX Risk Information

Risk metrics for IVIQX, derived from monthly returns in SEC filings.

1-year volatility (annualised): 10.8%

IVIQX Costs and Fees

IVIQX costs about $95 per $10,000 invested per year in fund expenses.

Net expense ratio: 0.95%
Gross expense ratio: 0.95%
Portfolio turnover: 28%
Brokerage commissions: 5.80 bps of average net assets (SEC N-CEN)

IVIQX Cashflows

Over the 12 months to 2021-03, IVA International Fund had net outflows of $1.85B, from monthly SEC N-PORT filings.

Month	Net flow
2021-03	−$266.24M
2021-02	−$141.60M
2021-01	−$186.62M
2020-12	−$101.27M
2020-11	−$36.39M
2020-10	−$99.18M

IVIQX Debt Constituents

No individual debt constituents are reported in IVA International Fund's latest SEC N-PORT filing.

IVIQX Prospectus and SEC Filings

Official IVA International Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.

Related Funds

Other Money Market funds tracked on ABC INVEST:

Data Sources

ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.