Free Market International Equity Fund
Actively managed U.S. stock fund
As of its 2026 Q2 report, Free Market International Equity Fund held 10 positions with $4.44B in net assets. Its ten largest holdings made up 100.4% of the fund. The FMNEX share class costs 0.85% a year. Over the 12 months to May 2026, FMNEX returned 36.2%, with dividends reinvested. In 2026 Q2 it added no new positions and exited none.
The Free Market International Equity Fund (for this section only, the Fund) seeks long-term capital appreciation.
The fund is a fund of funds that invests at least 80% of its assets in shares of other registered investment companies and ETFs focused on foreign equity markets, diversifying across international small-cap value, large-cap value, small-cap, large-cap, and emerging markets strategies. Because the fund's returns depend on the performance and expenses of the underlying investment companies it selects, duplication of advisory fees occurs in addition to the fund's own expenses. The adviser may periodically add, remove, or reweight underlying holdings without notice to shareholders.
What you own
| Company | Weight | Value | Shares | Reported price |
|---|---|---|---|---|
DFA International Small Cap Va | 39.79% | $1.77B | 51.2M | $34.52 |
DFA International Value Portfo | 17.48% | $776.01M | 28.1M | $27.57 |
INTERNATIONAL VALUE SERIES | 11.96% | $531.20M | 9.3M | $57.26 |
Dimensional International Smal | 9.90% | $439.71M | 11.9M | $36.89 |
iShares Core MSCI Emerging Mar | 5.70% | $253.06M | 3.0M | $83.47 |
DFA Emerging Markets Value Por | 5.25% | $232.88M | 5.1M | $45.33 |
iShares Core MSCI EAFE ETF | 4.95% | $219.78M | 2.2M | $98.02 |
DFA Emerging Markets Small Cap | 4.90% | $217.57M | 7.4M | $29.47 |
Mount Vernon Liquid Assets Portfolio, LLC | 0.32% | $14.06M | — | — |
Invesco Government & Agency Po | 0.12% | $5.24M | — | — |
Reported price is the fund's own reported value divided by its own reported shares at 2026-05-31 — not a live quote, and not what the fund paid.
All 10 holdings, with the share counts as filed, open with a free account.
What the fund is made of
Percentages are of fund net assets. Rounding, liabilities and short positions can make totals differ from 100%.
| Stocks | 100.56% |
| Cash & short-term | 3.48% |
| Other | 0.31% |
| Derivatives | 0.06% |
Look-through blends 7 underlying funds; 0.0% of NAV was not looked through and stays direct-classified.
How it has done
FMNEX share class · total returns with dividends reinvested
Volatility over the last 12 months: 14.25%. Past returns are a record, not a forecast.
Fees & fund details
Free Market International Equity Fund is an actively managed U.S. equity fund.
- Asset class
- Equity
- Region
- United States
- Management
- Actively managed
- Fund type
- Open-end fund
- Features
- Fund of funds
- Expense ratio, by class
- 0.85%· FMNEX 0.85%
- Portfolio turnover
- 5.00% a year · as of 2026 Q1
Turnover is how much of the portfolio was replaced in a year.
Classified from what the fund holds, not from its name · 2026 Q2. The summary is a paraphrase of the prospectus; the objective is verbatim.
What changed this quarter
Positions that entered or left the fund since its previous filing. Positions that were only resized are not listed.
0 new
0 exited
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