Investors poured a net $129 billion into foreign funds through November, reaching total assets of $1.68 trillion, according to the Investment Company Institute.
Domestic stock funds, by comparison, had a net outflow of $37 billion during the same period, with assets totaling $4.92 trillion through November.
Thanks to the weak U.S. dollar and booming economic growth abroad, foreign-focused funds have outperformed domestic stocks funds every year since 2002, according to Morningstar Inc.
On the other end, the Dodge & Cox Stock fund ended its winning streak in 2007, posting a total return of just 0.1%. From 2003 to 2006, the $63-billion fund gained 15.6% a year by focusing on big-name value stocks.
Dan Culloton, an analyst at Morningstar, said patient investors will see positive long-term results.
“We think those who stay the course here will be rewarded,” he said.