The shifts don’t stop there, however. In what is potentially an even bigger theme than the large to small or growth to value shifts, investors may be well served in being open to the idea that the next big shift could be from the United States to the rest of the world.
The iShares MSCI ACWI Ex-US Index Fund (ACWX) has broken the downtrend from the 2018 highs and is now outperforming the SPY. The fund has a Bullish ETF Rating and Bullish Money Flow. It is overbought in the near-term but odds favor a move back to the 2018 highs and possibly beyond.