The Best Global Stock ETFs to Buy

Global stock funds provide Canadian investors with an efficient way to add a broad range of country exposures within a single investment. We screened for the funds our analysts believe have the best chance of outperforming.

Funds in this category must invest in securities domiciled anywhere across the globe, such that their average market capitalization is greater than the small/mid cap threshold, and they must invest more than 10% and less than 90% of their equity holdings in Canada or the United States. Funds that do not meet any of the requirements of other geographic equity categories and have no formal restrictions that limit where they can invest will be assigned to this category.

The 8 Best Global Equity ETFs to Buy in 2026

We screened for funds with

of Gold and 100% analyst coverage. All the ETFs on the list fall into the global equity and have at least C$100 million in assets. All data is as of June 26.

• JPMorgan Global Select Equity Active ETF JGLO
• iShares MSCI World Index ETF XWD
• Vanguard FTSE Global All Cap ex Canada Index ETF VXC
• iShares Core MSCI All Country World ex Canada Index ETF XAW
• iShares MSCI Min Vol Global Index ETF XMW
• Fidelity Global Innovators ETF FINN
• Vanguard All-Equity ETF Portfolio VEQT
• Fidelity Global Equity+ Fund FGEP

Morningstar expects these funds to outperform their peers over a full market cycle. But though they fall into the same category, they may practice different strategies and behave differently. Investors should do their homework to understand exactly what a particular fund invests in before buying.

Here’s a quick look at each of the best global equity ETFs. Be sure to review a fund’s complete report for more details.

JPMorgan Global Select Equity Active ETF

• Fund Size
  : C$156.1 million
• Index Fund: No
• MER: N/A
• Morningstar Rating
  : N/A

This C$156.1 million fund launched in July 2025.

JPMorgan Global Select is a compelling option in the large-cap blend Morningstar Category and merits High People and Process ratings.

The strategy is led by Helge Skibeli, a JP Morgan veteran of nearly four decades, supported by comanager Christian Pecher. Skibeli has held senior research leadership roles across Asian, US, and global equities, making fundamental research the backbone of his career. His long tenure and proven ability to integrate research insights are key strengths here.

Crucially, the portfolio managers are underpinned by JP Morgan’s deep fundamental analyst resource, one of the industry’s deepest and most experienced teams. Around 80 research analysts each cover 20–35 companies on average, bringing 21 years of industry experience. This analyst network is central to the strategy’s stock-picking edge.

The strategy employs a disciplined, bottom-up stock-picking process supported by this extensive global research platform. Analysts covering 2,500-plus companies classify stocks as premium, quality, standard, or challenged and assign five-year expected return targets to guide portfolio construction.

The managers focus on premium and quality names, maintaining a valuation-conscious, conviction-driven approach in a portfolio of 65-95 holdings, with modest flexibility at the country or sector level and typically high turnover (50%–100%). The portfolio favors financially healthy large- and mega-cap companies, with minimal small-cap exposure.

Under Skibeli’s management from December 2015 through Feb. 28, 2026, the strategy has delivered strong results. The C ACC Clean share class has returned an annualized 12.8%, outpacing both the global large-cap blend equity category average (9.3%) and the MSCI World Index (12.3% in USD). Returns have exhibited somewhat higher volatility, but this has generally been rewarded with superior risk-adjusted outcomes versus peers.

The year 2025 was a challenging one in relative terms, driven by weak stock selection. Notably, underweight positions in strong performers such as Alphabet and Broadcom detracted meaningfully, as did headwinds within the healthcare basket, particularly from Novo Nordisk and UnitedHealth.

Read Morningstar’s full report on the JPMorgan Global Select Equity Active ETF.

iShares MSCI World Index ETF

• Fund Size
  : C$1.7 billion
• Index Fund: Yes
• MER: 0.48
• Morningstar Rating
  : ★★★★★

This C$1.7 billion fund has gained 24.49% over the past 12 months, while the average fund in its category is up 20.13%. The BlackRock fund, launched in June 2009, has climbed 21.82% over the past three years and 14.13% over the past five.

iShares MSCI World Index ETF seeks to capture all but the smallest stocks in developed markets globally, but it could be cheaper.

This fund tracks the MSCI World Index, which targets large- and mid-cap stocks across developed markets. Market-cap weighting naturally reduces turnover and trading costs by channeling the market’s collective opinion of a stock’s relative value. This means that stocks that do well take up a greater share of the portfolio, which can sometimes concentrate the fund in expensive stocks or market segments that have done especially well.

Since its 2009 launch, the fund’s US equity allocation rose to over 70% of assets by the end of 2025 from under 50%. This shift reflects the exceptional performance and growth of US large-cap companies relative to the rest of the world. This is not unique to the fund, however, and most peers have also seen their US allocation swell. Market-cap weighting amplifies this effect, bringing large-cap US stocks into sharper focus here. The 10 largest stocks in this portfolio were US-based companies at the end of January 2026.

Excluding emerging-market and small-cap companies results in only modest differences relative to peers, since market-cap weighting already prioritizes the largest global stocks. Most sector weightings mirror the Morningstar Category norm, but the fund still tends to favor technology companies since that sector is home to some of the largest US stocks.

The fund outperformed the global large-stock blend category average by over 2.5 percentage points annualized and delivered stronger risk-adjusted performance for the trailing 10 years through December 2025. Much of this success stems from its emphasis on large-cap and US stocks, as both have dominated global returns for much of the past decade. Still, with roughly 30% invested in international equities, the fund does well when non-US markets outperform, like in 2025.

Read Morningstar’s full report on the iShares MSCI World Index ETF.

Vanguard FTSE Global All Cap ex Canada Index ETF

• Fund Size
  : C$3.4 billion
• Index Fund: Yes
• MER: 0.22
• Morningstar Rating
  : ★★★★★

Over the past 12 months, the Vanguard fund rose 27.58%, while the average fund in its category rose 20.13%. The fund, launched in June 2014, has climbed 22.48% over the past three years and 13.12% over the past five.

Vanguard FTSE Global All-Cap ex Canada Index ETF captures nearly all markets outside of Canada for a reasonable price.

The fund tracks the FTSE Global All-Cap ex Canada China A Inclusion Index. Its broad portfolio includes stocks of all sizes from developed and emerging markets outside of Canada. It weights its holdings by market cap, which captures the market’s consensus opinion of each stock’s relative value while mitigating turnover. Market-cap weighting can be tough to beat because the market tends to do a good job of pricing stocks over the long run. Occasionally, this overexposes the fund to expensive stocks, but this doesn’t undermine its long-term efficacy.

Broad diversification mitigates the impact of the worst performers on the fund’s overall performance. The target index holds more than 10,000 stocks, and the managers nearly replicate its portfolio through the use of four exchange-traded funds. Diversification benefits extend to the fund’s regional exposures. It captures nearly all of the global market cap outside of Canada, with US stocks collecting around 65% of the portfolio by the end of December 2025.

Stocks from emerging markets typically make up just over 10% of the portfolio. These markets can be more volatile, but their relatively small allocation shouldn’t heavily impact long-term fund performance or risk. The same can be said about small-cap stocks. Their inclusion improves the fund’s breadth but still accounts for a small percentage of the portfolio owing to market-cap weighting.

The fund has consistently beaten its peers. It beat the Canada global equity Morningstar Category average by 2.56 percentage points annualized from its June 2014 inception through December 2025. Its 0.22% management expense ratio was among the lowest decile of its peers and provides the fund a durable edge.

Read Morningstar’s full report on the Vanguard FTSE Global All Cap ex Canada Index ETF.

iShares Core MSCI All Country World ex Canada Index ETF

• Fund Size
  : C$4.4 billion
• Index Fund: Yes
• MER: 0.22
• Morningstar Rating
  : ★★★★★

The C$4.4 billion fund has gained 27.57% over the past 12 months, while the average fund in its category is up 20.13%. The BlackRock fund, launched in February 2015, has climbed 22.26% over the past three years and 13.44% over the past five.

IShares Core MSCI All Country World ex Canada Index ETF covers nearly the entire global equity market outside Canada at a fair price.

The fund tracks the MSCI ACWI ex Canada Investable Market Index. Its broad portfolio includes stocks of all sizes from developed and emerging markets outside of Canada. It weights its holdings by market capitalization, which captures the market’s consensus opinion of each stock’s relative value while mitigating turnover. Market-cap weighting can be tough to beat because the market tends to do a good job of pricing stocks over the long run. Occasionally, this overexposes the fund to expensive stocks, but this doesn’t undermine its long-term efficacy.

Broad diversification mitigates the impact of the worst performers on the fund’s overall performance. The target index contains almost 8,000 stocks, and the managers nearly fully replicate its holdings through the use of six exchange-traded funds. Diversification benefits extend to its regional exposures. It captures nearly all of the global market cap outside of Canada, with US stocks accounting for 64% of the portfolio by the end of December 2025.

Stocks from emerging markets typically make up just over 12% of the portfolio. These markets can be volatile, but their relatively small allocation shouldn’t heavily impact long-term fund performance or risk. The same can be said about small-cap stocks. Their inclusion improves the fund’s breadth but still accounts for a small percentage of the portfolio on account of market-cap weighting.

The fund has consistently beaten its peers. It beat the Canada global equity Morningstar Category average by 2.46 percentage points annualized from its February 2015 inception through December 2025. Its 0.22% management expense ratio was among the lowest of its peers and provides the fund a durable edge.

Read Morningstar’s full report on the iShares Core MSCI All Country World ex Canada Index ETF.

iShares MSCI Min Vol Global Index ETF

• Fund Size
  : C$168.4 million
• Index Fund: Yes
• MER: 0.48
• Morningstar Rating
  : ★★

This C$168.4 million fund has gained 6.18% over the past 12 months, while the average fund in its category is up 20.13%. The BlackRock fund, launched in July 2012, has climbed 11.38% over the past three years and 7.48% over the past five.

IShares MSCI Global Minimum Volatility ETF is a well-designed low-volatility strategy whose ability to weather drawdowns should continue to drive a strong risk/reward profile.

The MSCI ACWI Minimum Volatility Index, the benchmark that this fund fully replicates, follows a meticulous set of instructions. It uses an optimizer to carve out a defensive portfolio from the MSCI All Country World Index, a broad benchmark covering the large- and mid-cap global stock market. The optimizer considers stocks’ individual volatility and how their performance interrelates with other holdings. That holistic view favors steady operators, but it also sweeps in some turbulent stocks that dance to their own tune. Those free spirits can lower volatility further if they continue to zig when the rest of the portfolio zags.

Comprehensive portfolio constraints improve this strategy, even if they moderately diminish its defensive chops. The fund ties its stock-, sector-, and country-level allocations to the parent index. These constraints reduce concentration and ensure that sectors like consumer defensive and utilities—favorites among simpler low-volatility strategies—don’t overrun the portfolio. Controlling for risk factors like value and momentum prevents incidental style or factor bets. These guardrails may prevent the fund from building the most defensive portfolio possible, but they make sure that no unintended bets compromise the low-volatility focus. That’s a worthy trade-off.

The index has delivered on its goals so far. Its returns were 28% less volatile than the MSCI ACWI Index from its October 2011 inception through March 2026. Investors shouldn’t expect this strategy to keep pace when the market rallies or excel every single time it wobbles, but its risk/reward profile should measure up well over the long haul. Further, low fees allow the fund to capture nearly all of the index’s returns.

Read Morningstar’s full report on the iShares MSCI Min Vol Global Index ETF.

Fidelity Global Innovators ETF

• Fund Size
  : C$2.7 billion
• Index Fund: No
• MER: 1.08
• Morningstar Rating
  : ★★★★★

The C$2.7 billion fund has gained 60.96% over the past 12 months, while the average fund in its category is up 20.13%. The Fidelity International fund, launched in May 2023, has gained 45.89% over the past three years.

Fidelity Global Innovators, including its exchange-traded fund, earns an upgrade to its People Pillar rating to High from Above Average, reflecting portfolio manager Mark Schmehl’s many strengths.

Mark Schmehl has managed this strategy since its 2017 inception. He draws on decades of investment experience and broad sector knowledge developed since joining Fidelity in 1999. He also runs other successful funds, including Fidelity Canadian Growth Company and Fidelity Special Situations. His background and experience fuel the strategy’s requirement for fast thinking, high conviction, and familiarity with multiple areas of the market. Schmehl works closely with Fidelity’s massive team of experienced analysts.

Schmehl’s process is hard to replicate. It focuses on companies with weak fundamentals that are starting to improve, as well as firms at the forefront of innovation with high expectations. The fund usually favors the latter, driving a momentum bias, but Schmehl has shown skill in guiding the high-octane strategy with the necessary conviction. Risk management relies on his judgment and swift sell discipline, which has helped limit downside. He is comfortable with lofty valuations and will likely underperform the market when cheap stocks are in vogue.

Fidelity Global Innovators can invest globally, but US stocks have typically accounted for 80%-95% of assets, reflecting Schmehl’s awareness of the strategy’s Nasdaq Composite Index benchmark. Schmehl has shown flexibility, however, going beyond typical growth sectors to invest meaningfully in areas like energy and regions outside the US at times.

Performance has been outstanding under Schmehl. From December 2017 through September 2025, the fund’s F series returned 24.4% annualized, well ahead of the global equity Morningstar Category average of 9.0%, the Morningstar Global Markets Index’s 12.0%, and the Nasdaq Composite Index’s gain of 18.6%.

Investors should carefully weigh the potential for strong returns against the fund’s high volatility and active risk. Schmehl’s central role here makes key-person risk significant; under a different skipper, the strategy’s prospects could change materially.

Read Morningstar’s full report on the Fidelity Global Innovators ETF.

Vanguard All-Equity ETF Portfolio

• Fund Size
  : C$15.5 billion
• Index Fund: No
• MER: 0.25
• Morningstar Rating
  : ★★★★★

Over the past 12 months, the Vanguard fund rose 29.41%, while the average fund in its category rose 20.13%. The fund, launched in January 2019, has climbed 23.17% over the past three years and 13.61% over the past five.

Vanguard’s Allocation exchange-traded funds deliver a set of compelling global portfolios efficiently managed and effectively constructed. There aren’t a lot of moving parts, but prudent groups constantly seek out refinements, which keeps prospects bright.

The five risk options–Conservative Income, Conservative, Balanced, Growth, and All-Equity–target a 20%, 40%, 60%, 80%, and 100% equity weighting, respectively, with a 2% threshold for rebalancing. The ETFs hold seven (four for All-Equity) underlying index-tracking Vanguard ETFs. The mutual fund versions hold the allocation ETFs directly.

Vanguard’s equity index group handles trading and cash flow management for the series and underlying equity ETFs. The fixed-income group manages the underlying fixed-income ETFs. The diverse group of holdings vitally keeps costs low. Its mix of US-domiciled and Canada-domiciled ETFs includes Vanguard US Total Market ETF and Vanguard FTSE Canada All Cap ETF. Both earn Morningstar Medalist Ratings of Gold as of June 2025. Altogether, the series comes at a cost of 24 basis points across all five options, making fees its most attractive feature and largest strength over most peers.

Oversight for the allocation ETFs comes from both the investment strategy group and the strategic asset allocation committee. The former is a global team of 70 members that conducts investment research and proposes changes to a wide array of Vanguard funds. These proposals are approved or denied by the strategic asset allocation committee, a group of voters that includes various leaders at the firm.

One visible impact of these oversight groups is the persistent overweighting in Canadian equity, with a 30% target within the equity sleeve, higher than the 24% average for global balanced peers as of May 2025. The fixed-income component similarly targets a 60% Canadian allocation, compared with 55% for the average peer.

The series generally has performed well, albeit with more risk, owing to most risk options holding higher equity weightings in each of their Morningstar Categories. Four of the five registered top-quartile returns over the trailing five years ending June 2025 and beat their respective category indexes. The lone exception–Vanguard Conservative Income ETF–had less equity than many in its global fixed-income balanced category.

Read Morningstar’s full report on the Vanguard All-Equity ETF Portfolio.

Fidelity Global Equity+ Fund

• Fund Size
  : C$10.4 billion
• Index Fund: No
• MER: 1.16
• Morningstar Rating
  : N/A

This C$10.4 billion fund has gained 31.27% over the past 12 months, while the average fund in its category is up 20.13%. The Fidelity International fund launched in May 2024.

Fidelity Global Equity+ brings together three skilled managers, each with a distinct and complementary investment approach. The strategy earns a High People rating and an Above Average Process rating.

This multimanager strategy allocates equally to veteran managers with processes across the style spectrum, which should support steady returns over varied market environments. Hugo Lavallée uses a contrarian, core-oriented approach identical to Fidelity Greater Canada. He seeks resilient businesses with capable management teams and solid fundamentals undergoing temporary challenges. Mark Schmehl’s growth-oriented sleeve looks for companies undergoing big changes, following the same process as Fidelity Global Innovators. Daniel Dupont divides his sleeve into two parts. One uses the value-oriented approach from Fidelity Canadian Large Cap. The other, which accounts for about 10% of total portfolio assets, uses the same strategy as Fidelity Global Value Long Short, where he shorts overvalued stocks.

The strategy keeps at least 28% of portfolio assets in Canadian equities, which is a much higher stake than the Morningstar Global Markets category index. This tilt can boost returns when Canadian stocks lead but raises the risk of lagging when US and international markets outperform. The strategy’s capacity bears watching as rapid asset growth has made Fidelity Canadian Large Cap and Fidelity Greater Canada among the largest Canada-focused equity funds, which might limit the managers’ flexibility to trade smaller stocks.

Since its recent launch in October 2023, the strategy’s F series gained 24.2% annualized through November 2025, which beat the global equity Morningstar Category average by 3.0 percentage points but trailed the Morningstar Global Markets category index by 1.2 percentage points. Risk-adjusted returns (measured by Sharpe and Sortino ratios) followed the same pattern but lagged the index by a smaller margin owing to lower volatility. Schmehl’s stock-picking in artificial-intelligence-related names drove gains and kept performance competitive during the period. Dupont’s sleeve lowered volatility, though it and Lavallée’s sleeve both underperformed. Still, the strategy’s broad and balanced approach should reward patient investors over the long haul.

Read Morningstar’s full report on the Fidelity Global Equity+ Fund.