Investors looking to diversify across a wide range of foreign countries, including both emerging and developed nations, can consider non-U.S. mutual funds. These are excellent choices for those who prefer funds that invest in companies based in foreign markets to those with significant domestic exposure.

Below we share with you three top-ranked non-U.S. mutual funds. Each has earned a Zacks Mutual Fund Rank #1 (Strong Buy) and is expected to outperform its peers in the future. 

Buffalo International Fund (BUFIX - Free Report)  invests a bulk of its assets in equity securities issued by recognized companies that are economically tied to different countries all over the world, excluding the United States. BUFIX may invest directly or indirectly in non-U.S. securities of developed as well as developing countries. The fund seeks capital growth over the long run. Buffalo International Fund has three-year annualized returns of 10.4%.

As of December 2018, BUFIX held 86 issues, with 2.89% of its assets invested in Kering SA. 

Fidelity International Capital Appreciation (FIVFX - Free Report) primarily invests in securities of foreign companies including those that operate in emerging markets. FIVFX seeks growth of capital for the long run. It measures the industry’s position as well as financial and market condition of each company before selecting investments. The fund focuses on acquiring securities of companies from different countries. Fidelity International Capital Appreciation fund has three-year annualized returns of 9.8%.

Sammy Simnegar has been the fund manager of FIVFX since 2008.

MFS International Growth I (MQGIX - Free Report) aims capital appreciation by investing primarily in securities of foreign companies, which also comprise emerging market equity securities. The fund invests in companies it believes will have above-average earnings growth potential. MQGIX has three-year annualized returns of 11.2%.

MQGIX has an expense ratio of 0.90% compared with the category average of 1.13%.