Core Insights - International equities have provided significant returns amid U.S. market uncertainties, suggesting continued engagement with global markets is beneficial [1][4] - U.S. equities, particularly large-cap tech companies, are performing well due to strong demand for AI and semiconductors, supported by recent interest rate cuts from the Federal Reserve [3] Group 1: International Equities - International equities face challenges such as ongoing tariff negotiations and potential supply chain disruptions due to geopolitical uncertainties [2] - Despite these headwinds, it is premature to withdraw from international equities; diversification with U.S. exposure is recommended for stronger returns [4] Group 2: Active Management Strategies - Active management, such as that employed by the BNY Mellon Concentrated International ETF (BKCI), can be advantageous in navigating changing geopolitical conditions [5] - BKCI focuses on fundamental analysis when selecting stocks, resulting in a well-distributed sector allocation, with a tilt towards information technology, healthcare, consumer discretionary, and industrials as of October 31, 2025 [6] - The ETF typically holds 25 to 30 companies, allowing for easier monitoring and management compared to broader equity strategies [7]