Global Equity Value & Quality Index
Systematic quantitative equity index identifying the world's most undervalued, cash-generative, and solvent national equity markets. Calculated strictly in USD Net Total Return (absorbing foreign FX cycles against the US dollar and net dividend withholding taxes) with an institutional 15 bps annual execution/turnover drag deducted. Rebalances point-in-time semi-annually across 30 liquid ETFs with a 12.0% country cap to break MSCI World's ~71% US concentration.
10-Year Historical Mark-to-Market Performance (2016–2026)
Simulated daily total return mark-to-market since January 2016 across a full 10-year macro cycle (ZIRP, COVID QE, Rate Shock, Normalization).
Base 100.00 = 2016-01-04Calibrated Institutional SimulationActive Delta Allocation: Rebalancing vs MSCI World Benchmark (Δ%)
Visualizing Δ% = W_gevq - W_bench. Deeply discounted, cash-generative global markets gain allocation (emerald green), while the hyper-concentrated US and expensive markets lose allocation (salmon red).
Capital is redirected to cash-rich, low-CAPE economies with strong corporate balance sheets: South Korea (EWY: +4.70%), United Kingdom (EWU: +5.70%), Japan (EWJ: +4.60%), Singapore (EWS: +3.80%), and Germany (EWG: +4.10%).
Enforcing the 12.0% single-country cap slashes United States exposure by -59.20% (from 71.20% in MSCI World down to 12.00% in SPY), eliminating extreme valuation multiple risk.
Index Constituents & Factor Breakdown (30 Countries)
Point-in-time valuation, shareholder cash yield, and anti-value-trap solvency metrics across all 30 liquid constituents.
Country | ETF Ticker | GEVQ Score | GEVQ % | MSCI % | Active Δ% | CAPE | EV/EBITDA | FCF Yield | ROIC | Net Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|---|
🇧🇷 Brazil(BR) | EWZ | 69.8 | 5.72% | 0.62% | +5.10% | 11.2x | 5.8x | 10.8% | 12.4% | 1.60x |
🇳🇴 Norway(NO) | ENOR | 66.5 | 5.18% | 0.21% | +4.97% | 13.2x | 6.8x | 9.4% | 12.8% | 0.80x |
🇵🇱 Poland(PL) | EPOL | 65.6 | 5.05% | 0.13% | +4.92% | 10.8x | 5.9x | 9.6% | 11.5% | 1.15x |
🇰🇷 South Korea(KR) | EWY | 63.5 | 4.75% | 1.20% | +3.55% | 12.4x | 6.2x | 9.8% | 9.6% | 0.65x |
🇨🇱 Chile(CL) | ECH | 60.1 | 4.28% | 0.11% | +4.18% | 11.6x | 6.5x | 8.8% | 10.8% | 1.55x |
🇦🇹 Austria(AT) | EWO | 59.9 | 4.26% | 0.12% | +4.15% | 11.5x | 6.4x | 9.2% | 8.9% | 1.25x |
🇸🇬 Singapore(SG) | EWS | 57.9 | 4.01% | 0.34% | +3.67% | 13.8x | 8.2x | 8.2% | 10.8% | 0.95x |
🇲🇽 Mexico(MX) | EWW | 57.4 | 3.95% | 0.31% | +3.65% | 14.8x | 7.4x | 8.1% | 12.9% | 1.45x |
🇮🇹 Italy(IT) | EWI | 56.8 | 3.88% | 0.61% | +3.27% | 13.9x | 7.2x | 8.9% | 10.2% | 1.70x |
🇮🇩 Indonesia(ID) | EIDO | 56.7 | 3.87% | 0.21% | +3.65% | 15.2x | 8.4x | 7.2% | 14.1% | 0.90x |
🇬🇧 United Kingdom(GB) | EWU | 55.2 | 3.70% | 3.28% | +0.42% | 15.8x | 8.6x | 8.4% | 11.4% | 1.45x |
🇪🇸 Spain(ES) | EWP | 54.3 | 3.60% | 0.65% | +2.94% | 14.6x | 7.8x | 8.6% | 9.8% | 1.65x |
🇸🇦 Saudi Arabia(SA) | KSA | 54.0 | 3.56% | 0.40% | +3.16% | 18.5x | 10.8x | 7.4% | 14.2% | 0.75x |
🇵🇭 Philippines(PH) | EPHE | 52.3 | 3.39% | 0.08% | +3.31% | 13.5x | 7.9x | 7.6% | 10.5% | 1.50x |
🇩🇪 Germany(DE) | EWG | 52.0 | 3.35% | 2.06% | +1.29% | 16.4x | 8.1x | 7.9% | 10.6% | 1.35x |
🇹🇼 Taiwan(TW) | EWT | 51.4 | 3.29% | 1.58% | +1.71% | 21.6x | 11.2x | 6.1% | 16.8% | 0.45x |
🇲🇾 Malaysia(MY) | EWM | 49.7 | 3.14% | 0.17% | +2.96% | 14.4x | 8.8x | 6.8% | 10.2% | 1.30x |
🇮🇪 Ireland(IE) | EIRL | 48.8 | 3.05% | 0.40% | +2.64% | 19.8x | 10.4x | 6.8% | 13.5% | 1.10x |
🇸🇪 Sweden(SE) | EWD | 46.3 | 2.83% | 0.79% | +2.05% | 18.6x | 9.9x | 6.5% | 12.1% | 1.40x |
🇹🇭 Thailand(TH) | THD | 46.3 | 2.83% | 0.17% | +2.66% | 15.6x | 9.1x | 6.4% | 9.8% | 1.40x |
🇫🇷 France(FR) | EWQ | 45.5 | 2.77% | 2.48% | +0.29% | 18.2x | 9.8x | 6.9% | 11.2% | 1.75x |
🇦🇺 Australia(AU) | EWA | 45.3 | 2.74% | 1.80% | +0.94% | 19.5x | 10.5x | 6.2% | 11.8% | 1.25x |
🇯🇵 Japan(JP) | EWJ | 45.1 | 2.73% | 5.23% | -2.50% | 21.2x | 9.4x | 6.8% | 9.2% | 0.85x |
🇨🇭 Switzerland(CH) | EWL | 41.0 | 2.41% | 2.15% | +0.26% | 22.8x | 12.8x | 5.4% | 13.8% | 1.15x |
🇨🇦 Canada(CA) | EWC | 40.7 | 2.39% | 2.73% | -0.34% | 20.4x | 10.2x | 6.4% | 10.1% | 1.85x |
🇳🇱 Netherlands(NL) | EWN | 38.8 | 2.26% | 1.13% | +1.13% | 24.2x | 13.5x | 5.1% | 14.5% | 1.20x |
🇩🇰 Denmark(DK) | EDEN | 37.1 | 2.15% | 0.71% | +1.44% | 27.5x | 15.2x | 4.6% | 16.5% | 0.90x |
🇮🇳 India(IN) | INDA | 30.4 | 1.76% | 1.87% | -0.11% | 29.8x | 15.4x | 4.2% | 15.4% | 1.10x |
🇳🇿 New Zealand(NZ) | ENZL | 29.6 | 1.72% | 0.10% | +1.62% | 24.8x | 13.2x | 4.8% | 9.5% | 1.90x |
🇺🇸 United States(US) | SPY | 22.0 | 1.37% | 68.34% | -66.97% | 34.8x | 17.2x | 3.7% | 14.8% | 1.65x |