For much of the past decade, investors who placed their bets outside the United States were largely disappointed. International stock markets lagged far behind Wall Street, reinforcing a strong home bias among U.S. investors. That trend, however, has begun to reverse, and market professionals now believe the shift could have staying power.

The long stretch of underperformance for overseas equities started to fade toward the end of 2024 and has carried into 2026. As global economic conditions evolve and concerns grow about the heavy concentration of U.S. markets in a handful of technology giants, many investors are reconsidering portfolios that have been overwhelmingly tilted toward domestic stocks.

According to Tim Seymour, chief investment officer at Seymour Asset Management and portfolio manager for the Amplify CWP International Enhanced Dividend Income ETF, the renewed interest is not simply a reaction to short-term gains. Speaking on CNBC’s “ETF Edge,” he argued that this change reflects a broader reassessment of global opportunities rather than a speculative trade.

Over the last ten years, non-U.S. equities significantly trailed American markets. Seymour pointed out that a widely followed global benchmark, the iShares MSCI ACWI ETF, lagged U.S. performance by roughly 60%. This disparity encouraged massive capital flows into American equities, particularly large-cap technology companies, while international investing fell out of favor.

Yet that very imbalance may now work in favor of global markets. International stocks account for about 30 to 40 percent of global market capitalization, but Seymour estimates that U.S. investors typically allocate only 12 to 15 percent of their portfolios to overseas equities, and often even less.

The turning point came in November 2024, when international markets began outperforming the U.S. Since then, they have outpaced American equities by around 15 percent. Although this does not erase a decade of weaker returns, it signals a meaningful shift driven by improving global growth.

For U.S. investors seeking exposure abroad, the iShares MSCI Emerging Markets ETF has been a popular choice, delivering a 42 percent return over the past year with more than $26 billion in assets. The broader iShares MSCI ACWI ETF has also risen about 20 percent, surpassing the S&P 500 by roughly five percentage points. Seymour suggested that while emerging markets offer higher potential returns, most investors should prioritize developed markets, recommending a roughly 70-30 allocation split.

Currency movements have also played a role. A weaker U.S. dollar has boosted returns for American investors holding foreign assets. At the same time, rising metal prices have drawn global attention as investors search for inflation hedges and alternative stores of value.

Jon Maier, chief ETF strategist at J.P. Morgan Asset Management, echoed this sentiment, noting that many portfolios are gradually shifting away from their previous U.S.-centric focus toward a more diversified global stance.

Beyond currencies, improving corporate fundamentals have strengthened the case for international investing. Japan stands out as a key example, where long-running governance reforms and a greater emphasis on shareholder value are beginning to translate into stronger performance.

Europe is also showing signs of renewed momentum, supported by lower interest rates, fiscal spending, and regulatory changes. Seymour argued that deregulation in Europe could have an even greater impact than in the U.S., particularly in sectors such as banking, utilities, and industrials. He added that many European banks now appear attractively valued and offer compelling dividend yields.

Emerging regions have been among the strongest performers this year, especially in Latin America, where demand for gold and copper has lifted markets. Countries like Chile and Peru have benefited from rising commodity prices, while Brazil has gained from both resource strength and shifting political expectations. The iShares MSCI Brazil ETF has climbed nearly 49 percent over the past year, while the iShares MSCI Peru and Global Exposure ETF has surged by almost 118 percent.

Commodity markets experienced a setback after recent political developments surrounding U.S. Federal Reserve leadership, briefly driving down gold, silver, and platinum prices. Despite this pullback, all three metals remain far above year-ago levels, underscoring the longer-term bullish trend.

Looking ahead, strategists believe global trade realignments under the current U.S. administration could continue to support international markets. Countries are actively renegotiating agreements and repositioning their economic relationships, creating opportunities beyond American borders.

Technology is another area where investors are rebalancing their exposure. South Korea, for instance, has become increasingly important due to its dominance in memory chips through companies such as Samsung and SK Hynix, which together represent nearly half of the country’s benchmark index. The iShares MSCI South Korea ETF has more than doubled over the past year, reflecting the strength of this sector.

Major semiconductor players like ASML and Taiwan Semiconductor Manufacturing Company are also based outside the United States, highlighting that innovation and growth are not confined to Silicon Valley.

Overall, the revival of international equities reflects a broader reassessment among investors after years of neglect. As valuations adjust, earnings improve, and global economic dynamics evolve, capital is gradually flowing back across borders. As Seymour put it, these opportunities are truly global, not just American.