I know this fund is pretty conservative and will lag a bit in a bull market but this is pretty bad. This fund is up only about 6% YTD. I own another foreign mutual fund (JAOSX) which is up about 50%. That's a pretty huge difference. When the market is up this fund is often times in the red. When the market is down this fund is usually still down albeit by a little less. I'm thinking about jumping ship......