International funds for risk diversification?

[katfish]

We are told its a good Idea to spread the risk around so buy an international
fund...So find me a fund that didn't follow the S@P 500 into a hole durning
our last bear , 2000-2002...My search turned up one small cap fund,I think it
was American Eagle, closed to new investers, and a closed end fund....

 

[brewer12345]

Its true, international equities have become more correlated with the US over time. But they still offer some diversification, not least of which is currency diversification.