Shares of SK Telecom (SKM - Get Report) are flat thus far in 2016, far underperforming U.S. players like AT&T (T - Get Report) and Verizon (VZ - Get Report) . Nevertheless, the South Korean wireless operator is preferable because it is far cheaper with a similarly juicy yield of almost five percent, said Josh Strauss, portfolio manager for the Appleseed Fund (APPLX - Get Report) . 'It's unbelievably cheap as compared to AT&T or Verizon on a price-to-book and price-to-earnings basis,' said Strauss. 'They have a lot of underlying assets including owning about 20 percent of one of the world's leading semiconductor players.' The Appleseed Fund is up 6.8 percent thus far in 2016, according to fund-tracker Morningstar.