Core Insights - The iShares MSCI World ETF (URTH) and the iShares MSCI ACWI ex US ETF (ACWX) differ in cost and composition, with ACWX being more expensive but yielding higher dividends, while URTH is heavily weighted towards U.S. technology stocks [2][3] Cost & Size Comparison - URTH has an expense ratio of 0.24% and AUM of $6.74 billion, while ACWX has a higher expense ratio of 0.32% and AUM of $7.87 billion [4] - The 1-year return for URTH is 23.08%, compared to ACWX's 35.9%, and the dividend yield for URTH is 1.5% versus ACWX's 2.83% [4] Performance & Risk Comparison - Over the past five years, URTH experienced a maximum drawdown of -26.06%, while ACWX had a deeper drawdown of -30.06% [6] - The growth of $1,000 over five years is $1,644 for URTH and $1,251 for ACWX, indicating better long-term growth for URTH despite ACWX's recent outperformance [6][9] Portfolio Composition - ACWX holds 1,751 non-U.S. companies, with a sector emphasis on financial services (25%), technology (15%), and industrials (15%), featuring top positions like Taiwan Semiconductor Manufacturing and Tencent Holdings [7] - URTH covers 1,319 developed market stocks, heavily weighted towards U.S. technology, with major holdings including Nvidia, Apple, and Microsoft, resulting in a sector allocation of 26% technology and 17% financial services [8][9] Investment Implications - Both ETFs provide international diversification but cater to different investor preferences: URTH for those seeking U.S.-centric exposure and ACWX for those wanting to avoid U.S. equity dominance [11]

Core Viewpoint - The iShares MSCI ACWI ex U.S. ETF provides a cost-effective way for investors to gain exposure to a diverse range of international equities, excluding the U.S., and is well-positioned to capture growth opportunities in both developed and emerging markets [1][2]. Group 1: Fund Structure and Strategy - The fund is structured as an ETF with a competitive expense ratio, making it suitable for both institutional and individual investors seeking international diversification [2]. - The investment strategy aims to track the performance of the MSCI ACWI ex U.S. Index, offering exposure to developed and emerging markets outside the U.S. [3]. Group 2: Performance Metrics - As of January 21, 2026, shares were priced at $69.74, reflecting a 30.1% increase over the past year, with a one-year alpha of 15.0 percentage points compared to the S&P 500 [3]. - Premier Path Wealth Partners, LLC increased its holding in the ETF to $18.16 million, marking a $4.74 million increase from the previous period [4]. Group 3: Holdings and Sector Allocation - The fund's top holdings include significant non-U.S. stocks such as Taiwan Semiconductor (TSMC), Tencent Holdings, and ASML, which are crucial for the global economy [6]. - Despite a notable presence in technology, the fund has a heavier investment in the financial and industrial sectors, contributing to its diversification and potential returns [7].

Core Insights - Valuation and economic concerns regarding the United States are increasing, leading to a focus on international investment options in 2025 that are outperforming the S&P 500 [1] Group 1 - International ETFs are gaining attention as they show better performance compared to the S&P 500 amid rising concerns in the U.S. market [1]

Core Insights - The international equity proposition has gained traction as the MSCI EAFE Index has significantly outperformed the S&P 500, prompting advisors and investors to consider allocating more to ex-US markets [1] - The ALPS O'Shares International Developed Quality Dividend ETF (OEFA) is highlighted as a viable option for diversifying US-heavy portfolios, showing performance comparable to the S&P 500 over the past year [2] Group 1: Market Dynamics - A small number of US companies dominate the value of US stocks, leading to an all-time high in concentration risk [3] - While current tech companies are profitable, there are concerns that some may falter for various reasons, indicating potential vulnerabilities in the market [3] Group 2: OEFA Advantages - OEFA offers a different sector profile compared to US-focused funds, which is significant given the current dominance of domestic communication services and technology stocks [4] - The ETF's reduced reliance on growth sectors may benefit investors if the market shifts towards value sectors, with industrial, consumer cyclical, and healthcare stocks making up over 61% of its holdings [5] Group 3: International Exposure - International stocks tend to have a higher concentration in sectors outside of technology and communications services, suggesting that future growth may be concentrated outside the US [6] - OEFA provides exposure to eight GICS sectors and includes stocks from 15 countries, enhancing breadth in international investment [6]

Core Viewpoint - The case for international diversification has strengthened in 2025 as several non-U.S. stock markets significantly outperformed the S&P 500, suggesting potential opportunities for U.S. investors seeking diversification and lower price-to-earnings multiples [2][4]. Group 1: International ETFs Performance - The iShares MSCI South Korea ETF has gained nearly 8% in early 2026, adding to its impressive 104% increase over the past year, driven by major companies like Samsung and SK Hynix [5][9]. - The South Korean ETF is heavily influenced by Samsung, which has risen 157%, and SK Hynix, which has surged 286%, together making up over 45% of the ETF [6][9]. - The ETF's price-to-earnings (P/E) ratio is relatively low at 19.1 times, indicating potential value despite its strong momentum [8][9]. Group 2: Other International ETFs - The iShares MSCI Japan ETF has also performed well, rising 31% and trading at a P/E of 18.9 times, suggesting it may be another option for investors looking for international exposure [9]. Group 3: Market Outlook - Goldman Sachs Research anticipates a potential 11% gain for global stocks in the upcoming year, indicating a positive outlook for international markets [4].

Core Viewpoint - The article discusses the identification of 10 undervalued cyclical stocks for investment, emphasizing the potential for growth in the consumer cyclical sector and the importance of hedge fund interest in these stocks [1][5][6]. Market and Economic Outlook - Alan McKnight from Regions Wealth Management indicates that the consumer sector remains strong, with earnings performing well, suggesting a healthy market and economy [2]. - Richard Bernstein highlights that 2026 may present different investment opportunities, recommending dividend-paying stocks and international diversification due to the outperformance of international markets compared to the US market in 2025 [2][3]. Stock Selection Methodology - The list of 10 undervalued cyclical stocks was curated using the Finviz stock screener, Seeking Alpha, and Insider Monkey's Q3 2025 database, focusing on consumer cyclical stocks with a forward P/E ratio under 15 [5]. - Stocks were ranked based on the number of hedge fund holders, as research indicates that mimicking top hedge fund picks can lead to market outperformance [6]. Individual Stock Analysis - **Trip.com Group Limited (NASDAQ:TCOM)** - Forward P/E Ratio: 11.77, with 37 hedge fund holders - The stock has gained over 22% in the past 6 months, with Wall Street projecting a 16% upside [7]. - Recently partnered with Galaxy Asia Car Rental to enhance visibility in Malaysia, a market experiencing triple-digit growth year-over-year [8][9]. - The partnership aims to integrate global planning with local execution, capitalizing on rising regional demand [9][10]. - **PulteGroup, Inc. (NYSE:PHM)** - Forward P/E Ratio: 10.84, with 42 hedge fund holders - Wall Street has mixed opinions, with RBC Capital maintaining a Hold rating and lowering the price target from $112 to $111, while Citizens maintains a Buy rating with a $145 price target [11][12]. - RBC Capital expresses caution regarding the housing sector due to affordability challenges, while Citizens highlights the company's focus on move-up and adult buyers, which may mitigate the impact of mortgage rate volatility [12][13]. - PulteGroup generates approximately two-thirds of its annual sales from these buyer segments, providing a competitive edge [13][14].

Core Viewpoint - Domestic financial markets in 2025 experienced uneven performance, with volatility driven by foreign trade policy uncertainty and inflation concerns, leading investors to seek safer investment options [1] Group 1: Market Conditions - Some market sectors and asset classes saw reasonable gains, but volatility remained a constant factor due to uncertainty over foreign trade policies and inflation concerns [1] - Ongoing worries about a potential AI bubble are affecting investor sentiment, particularly among seasoned investors [1] Group 2: International Market Interest - Investors are increasingly looking at international markets, specifically international equities and low-cost ETFs, as a means to diversify away from the crowded and unpredictable U.S. market [2] - International markets, while influenced by U.S. stock performance, do not have a direct 1:1 relationship, providing built-in protection against risks associated with a concentrated U.S. market [2] Group 3: Concentration Risks in U.S. Markets - A few tech giants dominate the domestic markets, with the top 10 U.S. stocks accounting for over one-third of total market value, creating a top-heavy market that poses significant risks [3] - If leading stocks experience downturns, such as from an AI bubble burst, many investors could face substantial losses [3] Group 4: Global Market Valuation - International stocks represent about 75% of global GDP but only account for approximately half of the global stock market capitalization, indicating that the U.S. market is significantly overvalued [4] - The "home bias" among U.S.-based investors may become problematic, making the shift to international markets a prudent strategy to mitigate risk [4] Group 5: Recommended Investments - Analysts at Morningstar have identified seven international equity funds and ETFs that are rated as "buy," all being gold-rated Morningstar Medalists with low-cost primary share classes and at least $100 million in assets [5]

Core Insights - The Vanguard FTSE Developed Markets ETF (VEA) and the SPDR Portfolio Developed World ex-US ETF (SPDW) provide low-cost exposure to developed markets outside the U.S., making them suitable for international diversification [2][10] - VEA is significantly larger than SPDW, with $260 billion in assets under management (AUM) compared to SPDW's $33.5 billion, and offers a slightly higher yield [4][11] Cost and Size Comparison - Both ETFs have an identical expense ratio of 0.03% [4] - VEA has a 1-year total return of 35.9%, while SPDW has a return of 35.2% as of December 30, 2025 [4] - VEA's dividend yield is not available, while SPDW offers a yield of 2.3% [4] Performance and Risk Analysis - Over the past five years, VEA has a maximum drawdown of -29.71%, while SPDW's is -30.23% [6] - The growth of $1,000 invested over five years would result in $1,308 for VEA and $1,302 for SPDW [6] - Cumulative growth for VEA is 55.2%, compared to SPDW's 53.4% [12] Portfolio Composition - VEA includes 3,864 stocks, while SPDW has 2,390 holdings, indicating broader diversification in VEA [7][8] - VEA's largest sector weights are in financial services, industrials, and technology, with top holdings including ASML Holding, Samsung Electronics, and AstraZeneca [7] - SPDW also has similar top holdings but is more tilted towards Swiss multinationals like Roche and Novartis [8] Investment Implications - Both ETFs serve as effective tools for portfolio diversification and hedging against U.S. economic downturns [10] - The primary distinction lies in their portfolio sizes and compositions, with VEA focusing more on large-cap stocks [11]

Core Insights - The article compares two international ETFs, SPDR Portfolio Developed World ex-US ETF (SPDW) and iShares Core MSCI EAFE ETF (IEFA), highlighting their differences in cost, size, and yield [1][2]. Cost and Size Comparison - SPDW has a lower expense ratio of 0.03% compared to IEFA's 0.07% [3]. - As of December 12, 2025, SPDW's one-year return is 26.6%, while IEFA's is 16.0% [3]. - SPDW has a dividend yield of 2.6%, slightly lower than IEFA's 2.9% [3]. - Assets under management (AUM) for SPDW is $33.3 billion, significantly smaller than IEFA's $163.0 billion [3]. Performance and Risk Metrics - Over five years, SPDW's maximum drawdown is -30.20%, while IEFA's is -30.41% [5]. - The growth of $1,000 invested over five years is $1,335 for SPDW and $1,330 for IEFA [5]. Sector Allocation and Holdings - IEFA includes 2,600 developed-market stocks, with major sectors being financial services (23%), industrials (20%), and healthcare (10%) [6]. - SPDW has a similar sector allocation, with top sectors being financial services (23%), industrials (19%), and technology (11%) [7]. - The largest holdings for both ETFs include ASML, AstraZeneca, and Roche, with SPDW also holding Samsung [7]. Investment Implications - Both ETFs provide pathways for international exposure, with IEFA being larger in terms of holdings and assets but with a higher expense ratio [8]. - SPDW offers broader international exposure by including Canadian companies, which constitute 11% of its geographical weighting [9]. - For investors prioritizing low cost and broad international exposure, SPDW is highlighted as a favorable option compared to IEFA [10].

Core Insights - SWAN Capital LLC increased its stake in the Vanguard International Dividend Appreciation ETF by acquiring an additional 35,964 shares, valued at approximately $3.19 million, bringing the total stake to $8.02 million at the end of the third quarter [1][2]. Investment Activity - The acquisition of shares occurred during the third quarter, with the previous stake valued at $4.83 million [2]. - Following the purchase, VIGI represented 3.25% of SWAN Capital's reportable assets, which totaled $246.64 million as of September 30, 2025 [7]. ETF Overview - The Vanguard International Dividend Appreciation ETF (VIGI) focuses on non-U.S. companies committed to increasing dividends over time, with a market capitalization of $9.22 billion as of November 15, 2025 [5]. - As of November 14, 2025, VIGI's price was $90.51, with a trailing twelve-month dividend yield of 1.87% and a one-year total return of 12.24% [4][7]. Performance Metrics - VIGI's performance slightly underperformed the S&P 500 by 0.48 percentage points over the past year [7]. - The ETF's expense ratio is ultra-low at 0.1%, allowing most gains to benefit investors directly [9]. Portfolio Composition - The ETF is structured to replicate its benchmark index, holding a diversified basket of international equities [5][8]. - Its top five holdings include two financial firms, a drugmaker, a food and beverage company, and an enterprise software business [10]. Dividend Distribution - The quarterly dividends from VIGI may vary, as many international companies do not follow the typical quarterly payout schedule familiar to U.S. investors [11].