Global Equities Priced in Gold: Weekly Analysis (Nov. 28, 2025)

This is my first post looking at global equities priced in gold. I plan on making this a weekly analysis just like my U.S. indices and crypto ETFs.

Why Track Broad International Markets?

I was debating whether to make my analysis focus on individual foreign countries or broad international markets. I decided to focus on broad international markets because most people probably just invest in the ETFs listed below instead of picking and choosing specific foreign countries.

The 401(k) Reality: Why We Focus on VXUS and VEA

My wife’s 401(k) only offers a mutual fund similar to VXUS for international exposure, so I figured this is what most people have as options as well.

Avoiding “Single-Country Risk” in a Gold-Based Portfolio

There is a benefit to look at specific countries priced in gold as well, but it requires a lot more knowledge and expertise about each country (politics, laws, etc.) that I don’t have. I also don’t have the time to learn and follow each countries’ news that effects the markets.

Focusing on broad market global equities is simpler for myself and for most investors.

The 4 Global Equity ETFs We Track

Vanguard Total International Stock ETF (VXUS)

Vanguard FTSE Developed Markets ETF (VEA)

Vanguard FTSE Emerging Markets ETF (VWO)

Vanguard FTSE All-World ex-US Small Cap ETF (VSS)

Weekly Market Recap: Internation vs. Gold

Winner of the Week: International Small Caps (VSS)

International Small Caps was the only asset class that was in the positive for the week with a real return of .60%.

Year-to-Date: International Stocks

International Developed Markets (VEA) have had the best returns this year followed by: Total International (VXUS), International Small Caps (VSS), and Emerging Markets (VWO).

All four international ETFs have outperformed the U.S. market this year, however they are all negative for the year as well.