How to diversify beyond IVV and VAS — VEU vs IVE/VGE vs individual markets?

I'm planning to build a long-term ETF portfolio with: 60% IVV (US exposure) 20% VAS (Australian exposure) For the remaining 20%, I'm a bit stuck. I'm considering: VEU – Broad international (ex-US), including emerging markets. Seems promising but I'm concerned about US-domiciled tax implications (W-8BEN, estate tax etc). IVE (ASX) – Developed markets only (e.g. JP, EU), but excludes emerging markets. Higher management fee though. VGE – Emerging markets only (China, India, etc.) but again, high fee and excludes developed markets like Japan and Europe. Or... building my own mix with country-specific ETFs (e.g. Japan and India) — this was also suggested by my financial adviser. What would you do for global diversification in this case? Stick to one global ETF (like VEU)? Or go the custom route with IVE + VGE or individual country ETFs?

RDS

Asked on 13 July 2025

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