VEA - VEA: International Equities Are Undervalued

• VEA has underperformed SPY since inception, but its portfolio is most likely undervalued.
• While the portfolio is heavily diversified and weighted returns on equity are not exciting, the fund is fundamentally inexpensive.
• While VEA might not necessarily rebound relative to SPY, it could do so if global investors were to take note, and close the valuation gap.
• VEA is a decent risk diversifier, and risk reducer, especially for U.S. investors concerned about local and current equity valuations.

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