The Daily Screen: The Best Europe Funds

Thanks to the sagging euro and a hearty appetite for phone stocks, Europe funds are getting their bell rung these days.

A tumbling euro -- the currency of the unified European nations that has been consistently testing its lows -- hurts U.S. fund investors. Whether the European stocks these investors own go up or down, when Europe funds convert their shares to dollars, they're worth less than when they started due to the euro's falling value vs. the dollar.

To make matters worse, these funds typically focus on big-cap growth stocks in the technology and telecommunications sectors, which are both under water this year. Nokia(NOK Quote), Ericsson(ERICY Quote) and Vodafone Airtouch(VOD Quote), three big telecom/wireless holdings among Europe funds, are down 19.8%, 20.8% and 27.3%, respectively, so far this year, according to Baseline. ...