Non-U.S. mutual funds provide excellent choices for those looking to diversify their investment across a wide range of foreign countries, including both emerging and developed nations. Thus, investing in non-U.S. mutual funds may prove profitable and investors may find non-U.S. mutual funds more attractive than those with significant domestic exposure.

Below we share with you three top-ranked non-U.S. mutual funds. Each has earned a Zacks Mutual Fund Rank #1 (Strong Buy) and is expected to outperform peers in the future. 

Vanguard Emerging Markets Select Stock Fund (VMMSX - Free Report) seeks to offer capital growth for the long run. VMMSX invests a large chunk of its assets in equity securities of companies based in the emerging markets. The fund diversifies its portfolio by investing in companies with different market caps. Vanguard Emerging Markets Select Stock Fund has one-year annualized returns of 21.7%.

VMMSX has an expense ratio of 0.92% compared with the category average of 1.61%.

Nuveen International Growth A (NBQAX - Free Report) invests a major portion of its assets in foreign equity securities. The fund invests in equity securities of small-, mid- and large-cap companies. NBQAX seeks appreciation of capital for the long run. Nuveen International Growth A has one-year annualized returns of 28%.

Joe R. O'Flaherty is one of the fund managers of NBQAX since 2017.

Fidelity Series International Small Cap (FSTSX - Free Report) seeks growth of capital. FSTSX invests a huge part of its assets in non-U.S. securities. The fund invests primarily in securities of small-cap companies and allocates its investment in different countries and regions. Fidelity Series International Small Cap has one-year annualized returns of 29.2%.

As of January 2018, FSTSX held 252 issues with 2.11% of its assets invested in Azbil Corp.