Is the rest of the world beating the US?
For more than a decade US stocks beat almost everything else, and most investors now hold little outside the US. Whether that is changing decides whether international diversification is helping or hurting, and the answer differs a lot by country.
Updated Oct 9, 2026
US ahead
Over the past year stocks outside the US have trailed the S&P 500 by 2 points, and over five years they have trailed it by 25. 4 of the 12 markets shown beat the US over the year, led by South Korea.
Markets against the US
Sorted by the past year against the S&P 500, in US dollars. Select a row for its chart. Select a column to sort.
| Market | vs US | YTD | vs S&P, YTD | vs S&P, 1Y | vs S&P, 5Y | Past year vs S&P |
|---|---|---|---|---|---|---|
| South Korea EWY | 86Ahead | +82% | +68 pts | +82 pts | +23 pts | |
| Taiwan EWT | 96Ahead | +80% | +66 pts | +51 pts | +3 pts | |
| Brazil EWZ | 95Ahead | +37% | +23 pts | +26 pts | −27 pts | |
| Japan EWJ | 82Ahead | +21% | +7 pts | +3 pts | −22 pts | |
| Developed markets VEA | 68Even | +13% | −2 pts | 0 pts | −23 pts | |
| Canada EWC | 47Even | +9% | −5 pts | 0 pts | −10 pts | |
| All non-US stocks VXUS | 65Even | +12% | −2 pts | −2 pts | −25 pts | |
| Emerging markets VWO | 60Behind | +11% | −3 pts | −6 pts | −33 pts | |
| United Kingdom EWU | 35Behind | +6% | −8 pts | −6 pts | −20 pts | |
| Europe VGK | 41Behind | +3% | −11 pts | −8 pts | −27 pts | |
| India INDA | 6Behind | −15% | −29 pts | −24 pts | −48 pts | |
| China MCHI | 20Behind | −13% | −27 pts | −31 pts | −56 pts |
How to read this page
How it’s measured. Broad and single-country funds measured against the S&P 500 over one year, in US dollars. Scores compare each market’s one-year lead with its own history since 2016.
Sources. Daily prices from Financial Modeling Prep.
Returns are in US dollars, so a weaker dollar lifts foreign returns and a stronger one cuts them. Prices exclude dividends, which are higher outside the US.
In our research, leadership by a single region or theme has reversed over long stretches. This describes where returns have come from.
This page is information, not investment advice. About our data and methods ›