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Client Conversations: US and International Markets Have Moved in Cycles

US equity outperformance versus international equity outperformance has historically been cyclical.

Client Conversations gives financial advisors an easy way to communicate with clients on topics influencing financial markets; it highlights common investor behaviors and offers ways to address the challenges investors face. Share this article with your clients, and remember to follow your firm's policies that govern sharing content with clients and prospects.

Client Conversations gives financial advisors an easy way to communicate with clients on topics influencing financial markets; it highlights common investor behaviors and offers ways to address the challenges investors face. Share this article with your clients, and remember to follow your firm's policies that govern sharing content with clients and prospects.



While we hope US stocks continue to perform well, history suggests that international stocks may soon have their day in the sun. Since 1970, the outperformance cycle for US versus international stocks has lasted an average of 7.4 years. We’re currently 8.1 years into the current cycle of US outperformance, which suggests the tides may be getting ready to turn.

 

US Equity vs. International Equity 5-Year Rolling Returns (1/1/1970-3/31/2019)

 

Source: The chart shows the values of the S&P 500 Index’s returns minus the MSCI World ex USA Index’s returns. When the line is above 0, domestic stocks outperformed international stocks. When the line is below 0, international stocks outperformed domestic stocks. 

Data Source: Morningstar; Calculations: Hartford Funds, 4/19. Performance data quoted represents past performance and does not guarantee future results. The performance shown above is index performance and is not representative of any Hartford fund’s performance. Indices are unmanaged and not available for direct investment. 

US equity is represented by S&P 500 Index; International equity is represented by the MSCI World ex USA Index. Please see below for representative index definitions. For illustrative purposes only. 

Talk to your financial advisor today about the allocation to international equities that’s right for you.

Hartford Funds Global and International Equity Funds*

Hartford International Equity Fund (HDVIX)

I-Share Morningstar Rating
(as of 5/31/2019)
Overall
infoIcon:
Overall, 4 stars, 3-Year, 3 stars, 5-Year, 4 stars, and 10-Year, 4 stars, rated against 610, 610, 485 and 359 products, respectively. Morningstar RatingTM is calculated for products with at least a 3-year history, based on a risk-adjusted return measure (excluding any applicable sale charges) and accounts for variations in a product's monthly performance. 5 stars are assigned to the top 10%; 4 stars to the next 22.5%, 3 stars to the next 35%, 2 stars to the next 22.5% and 1 star to the bottom 10%. ETFs and mutual funds are considered a single population. The Overall Rating is derived from a weighted average of the performance figures associated with its 3-, 5-, and 10-year (if applicable) Morningstar Rating metrics. For more information about these ratings, including their methodology, please go to global.morningstar.com/managerdisclosures. Ratings for other share classes may vary and are subject to change monthly. Past performance is no guarantee of future performance.
©2019 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.
infoIcon:
email
610 Products | Foreign Large Blend Category
Based on Risk-Adjusted Returns

Hartford Schroders International Multi-Cap Value Fund (SIDNX)

I-Share Morningstar Rating
(as of 5/31/2019)
Overall
infoIcon:
Overall, 4 stars, 3-Year, 3 stars, 5-Year, 4 stars, and 10-Year, 5 stars, rated against 288, 288, 236 and 160 products, respectively. Morningstar RatingTM is calculated for products with at least a 3-year history, based on a risk-adjusted return measure (excluding any applicable sale charges) and accounts for variations in a product's monthly performance. 5 stars are assigned to the top 10%; 4 stars to the next 22.5%, 3 stars to the next 35%, 2 stars to the next 22.5% and 1 star to the bottom 10%. ETFs and mutual funds are considered a single population. The Overall Rating is derived from a weighted average of the performance figures associated with its 3-, 5-, and 10-year (if applicable) Morningstar Rating metrics. For more information about these ratings, including their methodology, please go to global.morningstar.com/managerdisclosures. Ratings for other share classes may vary and are subject to change monthly. Past performance is no guarantee of future performance.
©2019 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.
infoIcon:
email
288 Products | Foreign Large Value Category
Based on Risk-Adjusted Returns

Hartford Schroders International Stock Fund (SCIEX)

I-Share Morningstar Rating
(as of 5/31/2019)
Overall
infoIcon:
Overall, 4 stars, 3-Year, 4 stars, 5-Year, 4 stars, and 10-Year, 4 stars, rated against 610, 610, 485 and 359 products, respectively. Morningstar RatingTM is calculated for products with at least a 3-year history, based on a risk-adjusted return measure (excluding any applicable sale charges) and accounts for variations in a product's monthly performance. 5 stars are assigned to the top 10%; 4 stars to the next 22.5%, 3 stars to the next 35%, 2 stars to the next 22.5% and 1 star to the bottom 10%. ETFs and mutual funds are considered a single population. The Overall Rating is derived from a weighted average of the performance figures associated with its 3-, 5-, and 10-year (if applicable) Morningstar Rating metrics. For more information about these ratings, including their methodology, please go to global.morningstar.com/managerdisclosures. Ratings for other share classes may vary and are subject to change monthly. Past performance is no guarantee of future performance.
©2019 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.
infoIcon:
email
610 Products | Foreign Large Blend Category
Based on Risk-Adjusted Returns
Morningstar Rating
(as of 5/31/2019)
Overall infoIcon infoIcon Overall, 5 stars and 3-Year, 5 stars, rated against 610 and 610 products, respectively. Morningstar RatingTM is calculated for products with at least a 3-year history, based on a risk-adjusted return measure (excluding any applicable sale charges) and accounts for variations in a product's monthly performance. 5 stars are assigned to the top 10%; 4 stars to the next 22.5%, 3 stars to the next 35%, 2 stars to the next 22.5% and 1 star to the bottom 10%. ETFs and mutual funds are considered a single population. The Overall Rating is derived from a weighted average of the performance figures associated with its 3-, 5-, and 10-year (if applicable) Morningstar Rating metrics. For more information about these ratings, including their methodology, please go to global.morningstar.com/managerdisclosures . Ratings for other share classes may vary and are subject to change monthly. Past performance is no guarantee of future performance.
©2019 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.
: starrating
610 Products | Foreign Large Blend Category
Based on Risk-Adjusted Returns




* View the full list of Hartford Funds

S&P 500 Index is a market capitalization-weighted price index composed of 500 widely held common stocks.

MSCI World ex USA Index captures large and mid cap representation across developed market countries, excluding the US.

Important Risks: Investing involves risk, including the possible loss of principal. • Foreign investments may be more volatile and less liquid than U.S. investments and are subject to the risk of currency fluctuations and adverse political and economic developments. These risks may be greater for investments in emerging markets.

CCWP014   211778    LAT001456    4/19/2021