Core Insights - The Vanguard FTSE All-World ex-US Small-Cap Index Fund ETF Shares (VSS) has experienced a significant rally, being up 14 of the past 16 weeks, indicating strong performance in the international small-cap sector [1]. Group 1: Performance Analysis - The VSS ETF has shown resilience and upward momentum, suggesting potential investment opportunities in international small-cap equities [1]. Group 2: Market Context - The article highlights the importance of thematic investing and macro drivers affecting asset classes, which may influence the performance of funds like VSS [1].