If the recent trend continues, shareholders of international funds could see a little boost in performance from an unexpected source - the declining value of the dollar.

While the returns of international funds are driven primarily by the funds' investments, international funds that do not use currency hedges may see improved performance thanks to a weakening dollar in addition to appreciation in the value of their securities. When the dollar declines, investments in unhedged international funds increase in value because the investments are held in foreign currency rather than dollars.

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