Geography
Where in the world the portfolio sits — country exposure derived from the exchange each holding lists on, not the issuer's headquarters. Multi-listed names are bucketed by their eToro listing. A core exposure lens alongside the sector view.
Country exposure
The portfolio by country. Listing-based, so a US-listed ADR of a foreign company counts as US — it reflects where the shares trade, not where the business is headquartered.
- United States54%
- $Cash18%
- Germany10%
- France6%
- United Kingdom5%
- Netherlands5%
- Spain1%
How it compares to the MSCI World
Knowing where the money sits is only half the picture — the real question is how that differs from simply owning the whole developed world. Measured against the MSCI World, the shape is a deliberate one, not an accident of stock-picking.
Against the MSCI World, the portfolio is markedly overweight Europe (+15 pts) and a touch under index weight in the US. It holds none of the index's Japan and Asia-Pacific ex-Japan. And it keeps 18% in cash, where the index is fully invested.
And 18% in cash — the index is always fully invested, so that is an active under-investment on top of the regional tilts.
Regional weights compared on an ex-cash basis (the portfolio's invested weight renormalized to 100%, since the index holds no cash). “pts” is the active tilt in percentage points. MSCI World weights are a maintained reference from the MSCI World Index factsheet, as of Jun 2025.
Not financial advice.
The portfolio below is shown for transparency, not as a recommendation. Past performance is not indicative of future results. Investing involves risk, including the possible loss of principal. Always do your own research and consider seeking independent advice.