The idea, of course, is to look for moneymaking opportunities around the world since international markets don't

International funds invest exclusively outside the U.S. Global funds can invest anywhere, including the U.S.

necessarily move in tandem with the U.S. stock market. One way to achieve instant international exposure is by investing in mutual funds. But be aware that the names can be deceptive.

If you carefully put together a diverse portfolio, you already have stocks or mutual funds that invest in U.S. stocks. You don't want to duplicate your holdings with a fund you picked for its overseas investments. And some global funds are actually weighted heavily with domestic stocks. So the best way to invest overseas is to buy international funds because they only contain foreign stocks. 

This shouldn't be an iron-clad rule: If you decide to invest in an exceptional global fund, just adjust your domestic holdings for the fact that the fund invests in the United States.