- ISIN
- US4122951076
- CUSIP
- 412295107
- Issuer
- Harding Loevner
- Inception Date
- May 10, 1994
- Category
- Foreign Large Cap Equities
- Min. Investment
- $100,000
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Large-Cap
- Asset Class Style
- Blend
Share Price Chart
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Performance
HLMIX Performance Chart
Harding Loevner International Equity Portfolio (HLMIX) is up 15.4% since the beginning of the year. HLMIX is currently trading at $31 per share. Investors who bought $1,000 worth of HLMIX shares 5 years ago would now be looking at an investment worth $1,412.
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Returns By Period
Harding Loevner International Equity Portfolio (HLMIX) has returned 15.35% so far this year and 32.23% over the past 12 months. Over the last ten years, HLMIX has returned 9.90% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.
Harding Loevner International Equity Portfolio
- 1D
- 1.39%
- 1M
- 3.19%
- YTD
- 15.35%
- 6M
- 16.04%
- 1Y
- 32.23%
- 3Y*
- 15.11%
- 5Y*
- 7.15%
- 10Y*
- 9.90%
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
HLMIX Monthly Returns History
Based on dividend-adjusted daily data since Jun 20, 1996, HLMIX's average daily return is +0.03%, while the average monthly return is +0.66%. At this rate, an investment would double in approximately 8.8 years.
Historically, 59% of months were positive and 41% were negative. The best month was Nov 2022 with a return of +15.7%, while the worst month was Oct 2008 at -23.1%. The longest winning streak lasted 12 consecutive months, and the longest losing streak was 6 months.
On a daily basis, HLMIX closed higher 52% of trading days. The best single day was Oct 13, 2008 with a return of +12.1%, while the worst single day was Oct 15, 2008 at -10.1%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 7.66% | 3.76% | -8.01% | 7.17% | 3.74% | 0.97% | 15.35% | ||||||
| 2025 | 3.06% | 2.97% | -0.35% | 3.09% | 3.67% | 2.02% | -0.85% | 3.07% | 4.36% | 1.26% | 0.03% | 2.46% | 27.63% |
| 2024 | -3.35% | 3.03% | 2.05% | -2.88% | 4.53% | -1.53% | 2.01% | 4.57% | 2.60% | -5.20% | -1.43% | -2.61% | 1.18% |
| 2023 | 8.71% | -3.69% | 2.94% | 1.86% | -3.35% | 4.67% | 1.96% | -6.18% | -3.42% | -3.20% | 9.76% | 5.59% | 15.10% |
| 2022 | -5.72% | -5.29% | -0.30% | -7.73% | 0.12% | -7.80% | 6.27% | -6.44% | -7.76% | 2.44% | 15.69% | -3.17% | -20.21% |
| 2021 | -0.74% | 1.10% | 0.49% | 2.23% | 3.14% | -0.03% | 1.59% | 1.21% | -5.05% | 4.07% | -3.88% | 4.52% | 8.49% |
Benchmark Metrics
Harding Loevner International Equity Portfolio has an annualized alpha of 1.15%, beta of 0.71, and R2 of 0.57 versus S&P 500 Index. Calculated based on daily prices since June 20, 1996.
- This fund participated in 92.88% of S&P 500 Index downside but only 85.69% of its upside - more exposed to losses than it benefited from rallies.
- Alpha
- 1.15%
- Beta
- 0.71
- R²
- 0.57
- Upside Capture
- 85.69%
- Downside Capture
- 92.88%
Expense Ratio
HLMIX has an expense ratio of 0.79%, placing it in the medium range.
Return for Risk
Risk / Return Rank
HLMIX ranks 57 for risk / return — on par with similar mutual funds. You're getting a typical balance of risk and reward. Not a standout, but not a red flag either — a reasonable choice if other factors align with your goals.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Harding Loevner International Equity Portfolio (HLMIX) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| HLMIX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | 0.00 | ||
| Sortino ratioReturn per unit of downside risk | +0.04 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.37 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.96 | 2.78 | +0.17 |
| Martin ratioReturn relative to average drawdown | 11.24 | 12.44 | -1.20 |
Dividends
Dividend History
Harding Loevner International Equity Portfolio provided a 12.95% dividend yield over the last twelve months, with an annual payout of $4.06 per share. The fund has been increasing its distributions for 3 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $4.06 | $4.06 | $1.75 | $0.98 | $0.59 | $0.75 | $0.21 | $0.38 | $0.29 | $0.37 | $0.18 | $0.17 |
Dividend yield | 12.95% | 14.94% | 7.14% | 3.79% | 2.51% | 2.48% | 0.75% | 1.59% | 1.50% | 1.64% | 0.98% | 1.02% |
Monthly Dividends
The table displays the monthly dividend distributions for Harding Loevner International Equity Portfolio. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | ||||||
| 2025 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $4.06 | $4.06 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $1.75 | $1.75 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.98 | $0.98 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.59 | $0.59 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.75 | $0.75 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Harding Loevner International Equity Portfolio. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Harding Loevner International Equity Portfolio was 58.03%, occurring on Nov 20, 2008. Recovery took 1084 trading sessions.
The current Harding Loevner International Equity Portfolio drawdown is 0.29%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Financial crisis2007–2009 | -58.03%Nov 2008 | 11mo 13d | 4y 3mo | 5y 3moDec 2007 - Mar 2013 |
2003 bear market2003 | -50.06%Mar 2003 | 3y 2mo | 2y 9mo | 6y 1dJan 2000 - Jan 2006 |
Bear market2022 | -32.76%Sep 2022 | 1y 19d | 2y | 3y 19dSep 2021 - Sep 2024 |
COVID crash2020 | -30.48%Mar 2020 | 2mo 2d | 4mo | 6mo 2dJan 2020 - Jul 2020 |
1998 bear market1998 | -25.96%Oct 1998 | 2mo 16d | 6mo 16d | 9mo 2dJul 1998 - Apr 1999 |
Drawdown Indicators
| HLMIX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -58.03% | -56.78% | -1.25% |
Max Drawdown (1Y)Largest decline over 1 year | -10.44% | -9.10% | -1.34% |
Max Drawdown (3Y)Largest decline over 3 years | -13.98% | -18.90% | +4.92% |
Max Drawdown (5Y)Largest decline over 5 years | -32.76% | -25.43% | -7.33% |
Max Drawdown (10Y)Largest decline over 10 years | -32.76% | -33.92% | +1.16% |
Current DrawdownCurrent decline from peak | -0.29% | -1.80% | +1.51% |
Average DrawdownAverage peak-to-trough decline | -12.68% | -10.71% | -1.97% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.74% | 2.03% | +0.71% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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