Touchstone International Equity ETF

Touchstone International Equity ETF (TLCI) is an actively managed fund that holds about 30 large non-US companies. Its sub-adviser, The London Company, picks the stocks, which include Taiwan Semiconductor, Safran and ASML. It looks quite different from broad international index funds such as EFA or VEA: no similar fund shares more than 12% of its holdings. Its 0.37% expense ratio, after a fee waiver, is the highest among the seven funds compared.

• The deepest fall in its price history was 7.6% (Aug 25, 2026 to Oct 1, 2026), not yet recovered.

No distribution history is available for this fund.

As of Jun 30, 2026, the fund held 30 securities; the ten largest made up 44.66% of assets, and 2.73% sat in cash and money-market holdings.

• Over the three months to Jun 30, 2026, investors added a net $2.5M (creations minus redemptions, per the N-PORT report).
• Monthly total returns reported for that quarter: +4.18%, +2.83%, +2.80%.

Touchstone International Equity ETF does not track an index. The fund's adviser hires a sub-adviser, The London Company, to pick stocks. At least 80% of assets normally go into large non-US companies, generally worth over $2 billion at purchase. Holdings can include depositary receipts (certificates representing foreign shares) and up to 10% in emerging markets. A company counts as non-US if its main shares trade abroad or it has significant business outside the US, so US-based Philip Morris International can qualify.

The London Company seeks financially strong firms earning high cash returns on tangible capital, run by shareholder-minded managers and trading below its estimate of their true value. It typically holds 25 to 40 stocks and targets an average holding period of about five years. Turnover, the share of holdings replaced over a year, was 13% according to the prospectus filed April 29, 2026. It sells when a stock hits its price target, the business weakens, insiders trade heavily, or a better idea appears.

With no index, there is no scheduled rebalancing; the manager sets position sizes. Stock-by-stock picking can leave some sectors with large weights. As of June 30, 2026, the fund held 30 companies, with 44.7% in the top 10, led by Taiwan Semiconductor (6.3%), Safran (5.0%) and InterContinental Hotels Group (4.5%).

• TLCI charges 0.37% a year, versus an average of 0.1% for the similar funds below (7th of 7, cheapest first).
• Of that, 0.63% is the management fee; the rest covers other fund expenses.
• The fee includes a 0.64% waiver from the adviser, which may end.
• Using the prospectus's standard example, $10,000 invested would cost about $38 in the first year and $1,178 over 10 years (assuming a 5% annual return).

It adds a small group of large companies, based mostly in the UK and Europe, that overlaps little with broad international index funds, so it may complement a US-heavy portfolio rather than anchor one.

TLCI could add non-US stocks that look different from an index fund. As of June 30, 2026, the UK made up 21% of assets, and the Netherlands, Switzerland and Ireland about 11% each. The fund launched March 3, 2025, so it missed the 2008, 2020 and 2022 downturns, and it has no full calendar year of results to judge. Its deepest drop in the available price history was 7.6%, from August 25 to October 1, 2026, and it had not recovered as of October 27, 2026. Someone who may need to sell shares in a bad year has little evidence of how it holds up. It is not built for income: its trailing yield was 0% as of October 27, 2026, and it is listed as paying once a year. It costs 0.37%, against a 0.10% average for similar funds. Past results don't predict the future, and a plan should look at the whole portfolio, not one fund.

Matched by closest holdings overlap from the latest N-PORT reports (no similar fund shares 20% or more of its holdings).