VWO - VWO: Rising U.S. Yields And China Risks Warn Against Adding Exposure

• The Vanguard FTSE Emerging Markets ETF offers exposure to a broad basket of emerging market stocks with a low expense ratio.
• It is trading at increasingly attractive valuations, particularly relative to its developed market peers, with an underlying forward PE ratio of 11.9x and forward dividend yield of 3.3%.
• Despite the recent decline in valuations, the rise in U.S. bond yields has raised the opportunity cost of stocks globally, and I am not adding to my positions.
• Furthermore, Beijing's widening lockdowns risk undermining support for Xi Jinping, which could lead to reduced economic freedom, which could be bad news for minority shareholders.

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