After 15 years of U.S. outperformance, many investors are wondering whether global diversification is still worth it. In Episode 21 of Greenstream, we look past recent returns and dig into the long-run evidence of global stock market returns. You’ll learn about:
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Sources
1Chambers, David and Dimson, Elroy and Ilmanen, Antti S. and Rintamäki, Paul, Long-Run Asset Returns. Available at SSRN: https://ssrn.com/abstract=5022480
2UBS Investment Returns Yearbook 2025: https://www.ubs.com/global/en/investment-bank/insights-and-data/2025/global-investment-returns-yearbook-2025.html
3International Diversification—Still Not Crazy after All These Years. AQR, 2023: https://www.aqr.com/Insights/Research/Journal-Article/International-Diversification-Still-Not-Crazy-after-All-These-Years
4Japan in the News, But It’s Nothing New. Dimensional, 2024: https://www.dimensional.com/us-en/insights/japan-in-the-news-but-its-nothing-new
5A Tale of Two Decades: Lessons for Long-Term Investors. Dimensional, 2020: https://www.dimensional.com/us-en/insights/a-tale-of-two-decades
6Has Australia Really Had a 28-Year Expansion? Federal Reserve Bank of St. Louis, 2019: https://www.stlouisfed.org/on-the-economy/2019/september/australia-28-year-expansion
7Investor Risk: Behavioral Biases That Cost Investors Returns. Greenspring Advisors, 2025: https://youtu.be/jMxlCOdjkqg?si=CzWk2vQ6QEJUyW3P
8Global Diversification Still Requires International Securities. Dimensional, 2024: https://www.dimensional.com/us-en/insights/global-diversification-still-requires-international-securities
Information contained herein has been obtained from sources considered reliable, but its accuracy and completeness are not guaranteed. It is not intended as the primary basis for financial planning or investment decisions and should not be construed as advice meeting the particular investment needs of any investor. This material has been prepared for information purposes only and is not a solicitation or an offer to buy any security or instrument or to participate in any trading strategy. Past performance is no guarantee of future results.
