Caching question with loadMovie()

Hi. I’m using Flash MX 2004, and using the loadMovie() function to draw an external .swf file into a blank movieclip. My question is how the browser (let’s assume Internet Explorer) caches this information.

I know that after a Flash movie is loaded within an HTML page, the browser caches it, so that on the next load the movie appears nearly instantly from the cache. However, does it also cache the movie loaded using loadMovie(), or does it always redownload that external movie regardless?

Any insight on this is appreciated! :}