Investors looking to diversify their choices across foreign countries, both emerging and developed economies, could think of investing in related mutual funds. Thus, investing in non-U.S. mutual funds may prove profitable and attractive than 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 peers in the future. 

T. Rowe Price Latin America (PRLAX - Free Report) seeks capital growth for the long run. The fund invests a large chunk of its assets in common stocks of companies located mainly in the Latin America region. PRLAX invests in companies with different market caps. T. Rowe Price Latin America has three-year annualized returns of 12.9%.

PRLAX has an expense ratio of 1.29% compared with the category average of 1.59%.

Fidelity Canada (FICDX - Free Report) seeks capital growth over the long run. The fund invests the majority of its assets in Canadian companies and in companies that are economically based in Canada. FICDX invests mostly in common stocks. Fidelity Canada has three-year annualized returns of 5.1%.

Ryan Oldham is the fund manager of FICDX since 2018.

Vanguard Developed Markets Index Fund Investor (VDVIX - Free Report) seeks to track the FTSE Developed All Cap ex US Index performance. This index consists of large number of small-, mid- and large-cap companies. Vanguard Developed Markets Index Fund Investor has returned 4.2% over the past three years.

As of October 2018, VDVIX held 3959 issues, with 1.40% of its assets invested in Nestle SA.