Strategy overview
International Developed Markets
A Developed ex-US Equity Strategy with a European Tilt, Minimum-Volatility Overlay, Value Sleeve & Explicit Japan Position
01
Overview
Investor Profile
For investors seeking geographic and currency diversification away from US equities, at a below-market risk profile — a good fit for anyone looking to reduce concentration in a single market or currency.
Strategy
The strategy pairs a broad developed ex-US core with a European large-cap tilt, a minimum-volatility overlay, a value sleeve, and an explicit position in Japan — built to capture the diversification benefit of investing outside the US without taking on more risk than the category average.
02
composition
Developed ex-US Core
A broad developed ex-US core anchors the strategy.
30%
European Large Cap
A European large-cap tilt adds regional emphasis.
25%
International Minimum Volatility
Caps risk at or below the category average.
20%
International Value
A value sleeve diversifies the strategy's style exposure.
15%
Japan Equity
An explicit Japan position rounds out the geographic mix.
10%
03
key considerations
01 Currency Exposure
Every sleeve is currency-unhedged, so results are affected by moves in the euro, pound, yen, and Canadian dollar, not just local market performance.
02 Regional Risk
European holdings carry regional geopolitical and energy-policy exposure; the Japan sleeve carries regional China-Taiwan exposure.
03 Valuation Thesis Timing
The strategy's core premise — that international valuations are due to close the gap with the US — could take a long time to play out.
04 Tax Treatment
Foreign dividends are subject to withholding tax, most of which is recoverable via a foreign tax credit in a taxable account.
Investors should consider the strategy’s investment objectives, risks, and fees before investing. All investments involve risk, including possible loss of principal. Target asset class weights are subject to change over time based on market conditions and portfolio management discretion. Past performance is not indicative of future results. Certain holdings carry limited liquidity; redemptions may not be available on a daily basis for all asset classes. This information is for informational and illustrative purposes only and is not investment advice, a solicitation, or an offer to buy or sell any security.
Ask us for the fact sheet.
