Why do you often include Exchange Traded Funds (ETFs) in international investments?
Once we’ve selected where to invest each portfolio we pick the most appropriate investment vehicle. This may mean buying direct shares, investing in a fund or using exchange traded funds (ETFs).
For our international exposure we often use ETFs as they offer low costs and are available through the separately managed account (SMA) structure. The portfolios also may invest in international equities via Morningstar’s own international-focused managed fund.