Free Market International Eq Instl (FMNEX)

Fund Assets	4.55B
Expense Ratio	0.858%
Min. Investment	$0.00
Turnover	5.00%
Dividend (ttm)	0.73
Dividend Yield	4.16%
Dividend Growth	74.12%
Payout Frequency	Annual
Ex-Dividend Date	Dec 29, 2025

Previous Close	17.70
YTD Return	12.68%
1-Year Return	21.14%
5-Year Return	71.16%
52-Week Low	14.93
52-Week High	18.48
Beta (5Y)	0.72
Holdings	9
Inception Date	Dec 31, 2007

About FMNEX

The Free Market International Equity Fund Institutional Class is a mutual fund designed to provide long-term capital appreciation through diversified exposure to global equities, primarily outside the United States. Employing a fund-of-funds approach, it invests at least 80% of its net assets in shares of open-end investment companies and exchange-traded funds that focus on foreign equity markets, including both developed and emerging economies. This strategy emphasizes value investing, particularly among small- and mid-cap international companies, often targeting stocks priced favorably relative to fundamentals such as book value, cash flow, or earnings. The fund’s holdings are highly concentrated, with the top ten positions comprising nearly the entire portfolio, reflecting significant allocations to funds managed by Dimensional Fund Advisors and major ETFs like the iShares Core MSCI Emerging Markets ETF. It distinguishes itself with a relatively low expense ratio for its category and an approach that diversifies across regions and market capitalizations, while maintaining minimal exposure to U.S. equities. The fund is suitable for institutional investors seeking broad international diversification and exposure to value-oriented equity investments in non-U.S. markets.

• Fund Family: Matson Money
• Category: Foreign Small/Mid Value
• Performance Rating: Above Average
• Risk Rating: Average
• Stock Exchange: Nasdaq
• Ticker Symbol: FMNEX
• Share Class: Institutional Class
• Index: MSCI World ex USA NR USD

Performance

FMNEX had a total return of 21.14% in the past year, including dividends. Since the fund's inception, the average annual return has been 5.69%.

Top Holdings

Name	Symbol	Weight
DFA International Small Cap Value I	DISVX	40.05%
DFA International Value III	n/a	17.84%
International Value Series	n/a	12.82%
Dimensional International Small Cap ETF	DFIS	9.80%
iShares Core MSCI Emerging Markets ETF	IEMG	5.08%
iShares Core MSCI EAFE ETF	IEFA	4.97%
DFA Emerging Markets Value I	n/a	4.72%
DFA Emerging Markets Small Cap I	DEMSX	4.58%
Invesco Shrt-Trm Inv Gov&Agcy Instl	AGPXX	0.14%

Dividend History

Ex-Dividend	Amount	Pay Date
Dec 29, 2025	$0.7287	Dec 29, 2025
Dec 27, 2024	$0.41851	Dec 27, 2024
Dec 28, 2023	$0.27791	Dec 28, 2023
Dec 28, 2022	$0.34083	Dec 28, 2022
Dec 28, 2021	$0.14937	Dec 28, 2021
Dec 29, 2020	$0.30472	Dec 29, 2020

Data Sources: Tiingo, Twelve Data, and more

Historical data is provided by Tiingo. Delayed stock pricing data is provided by Twelve Data. Several fund data points are also provided by Finnhub.

Last checked:

Oct 16, 2026

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