Core Insights - The article discusses the impact of tariffs on market performance and highlights the potential of international equities for diversification and upside opportunities [1] - It emphasizes the advantages of active management over passive index-tracking ETFs, particularly in adapting to geopolitical changes [2] - A bottom-up active investment strategy is presented as a means to identify specific opportunities in international markets, rather than relying solely on broad market indices [3] Active Management Advantages - Active management offers flexibility that passive ETFs lack, allowing for adjustments in response to geopolitical or policy changes [2] - The ability to adapt allocations based on market conditions is a significant benefit of active management [2] Bottom-Up Active Approach - A bottom-up strategy involves thorough scrutiny of individual stocks rather than merely tracking market indices [3] - This approach is particularly beneficial in identifying high-conviction investment opportunities in uncertain international markets [3] T. Rowe Price Global Equity ETF (TGLB) - TGLB employs a bottom-up active investment strategy with a competitive fee of 46 basis points, focusing on global and emerging markets equities [4] - The fund combines bottom-up fundamental research with top-down macro data to identify strong investment opportunities [4] - TGLB has achieved a return of 2.4% over the last three months, indicating potential for outperforming passive alternatives [5]