Think your ‘global’ investments are diversified? Think again

10X Investments, thinks about diversification a lot. In fact, it’s one of the pillars of it’sretirement investment philosophy. These days, you might think your investments are diversified, and you might be right.

You also might be wrong, potentially disastrously so. , thinks about diversification a lot. In fact, it’s one of the pillars of it’s .

If you own a global equity fund that tracks the MSCI World Index, or for that matter most funds marketed as ‘international diversification’, you might assume your money is spread across the world’s major economies. After all, it feels like that diversification would be baked into the premise of a ‘global’ fund. But the reality stands in stark contrast to that assumption.

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Exactly how is worth understanding, especially if your nest egg retirement capital is invested offshore in yourliving annuity. As of late January 2026, the MSCI World Index is approximately 75% US equities. Three-quarters of your ‘global’ portfolio is concentrated in a single country.

Exactly how is worth understanding, especially if your nest egg retirement capital is invested offshore in your . But it wasn’t always like this. In 2010, US equities made up just under 50% of the same index.

The shift happened gradually, almost invisibly, as US markets outperformed the rest of the world for 15 years straight. Did you know you can get afree comparison reportfrom 10X, so you can see if your investments could be doing more for you? Market-cap weighted indices have a mechanical reality where the winners get bigger.

As US equities outperformed, their weighting in global indices grew. Investors who bought ‘diversified global exposure’ a decade ago now hold something quite different: a concentrated bet on the continuation of American exceptionalism. 10X is not criticising US companies.

American businesses have been remarkably innovative, and their capital allocation has generally been superior. The question isn’t whether US companies are good. The question is: should they trade at a permanent premium to the rest of the world? And what happens if that premium narrows?

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