International and global closed-end funds

“Global” funds usually include the United States; “international” funds usually exclude it; regional and single-country funds do what their names say — but all of that is convention, not rule. This site classifies funds first by name and then checks the latest reported country allocation, so a “U.S.” fund that holds 45% non-U.S. assets is flagged as international.

Country allocation is not currency exposure. A fund can hold foreign companies through U.S.-listed ADRs, hedge its currency risk, or hold dollar-denominated emerging-market debt. Where a fund discloses a hedging policy it is noted; where it does not, we do not infer one.

Single-country and frontier-market CEFs are often the only listed vehicles for their markets, and their discounts can be exceptionally wide and volatile.