The highest-rated non-U.S. ETFs to consider now

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A handful of non-U.S. exchange-traded funds ((ETFs)) are emerging as compelling plays for 2026, thanks to the macro trends outlined in Deutsche Bank’s note.

The note highlighted a broadening global earnings cycle, with growth no longer confined to U.S. mega-cap tech.

Germany emerges as a major outlier, with one of the largest fiscal pushes in Europe. Its defense and infrastructure spending is expected to deliver strong spillover effects to the broader euro area.

Emerging markets are positioned well for 2026. High real yields, prudent policy choices and resilient demand support the region.

In Asia, Deutsche Bank is far more cautious. The note flags pressure from large trade surpluses with the U.S., continued geopolitical tensions, and the uncertainty surrounding China’s “anti-involution” reforms. These factors limit the near-term visibility for parts of the region, even if some exporters continue to gain share.

Deutsche Bank's China's growth forecast assumes that the government will modestly lower their growth target for 2026 as we enter the next 5-year plan period. At the same time, Japan’s steady wage gains are helping to rebuild domestic consumption and moderate growth is expected from the region next year.

BELOW IS A CURATED LIST OF OUR TOP-RATED, NON-U.S. ETFS:

* Global X MSCI Greece ETF (GREC)—4.65
* iShares MSCI South Korea ETF (EWY [https://seekingalpha.com/symbol/EWY]) — 4.63
* Franklin FTSE South Korea ETF (FLKR [https://seekingalpha.com/symbol/FLKR]) — 4.62
* Macquarie Focused Emerging Markets Equity ETF (EMEQ [https://seekingalpha.com/symbol/EMEQ])—4.61
* Global X MSCI Colombia ETF (COLO [https://seekingalpha.com/symbol/COLO]) — 4.45
* iShares MSCI Spain ETF (EWP [https://seekingalpha.com/symbol/EWP]) — 4.44
* iShares MSCI Poland ETF (EPOL [https://seekingalpha.com/symbol/EPOL]) — 4.44
* iShares MSCI Peru ETF (EPU [https://seekingalpha.com/symbol/EPU]) — 4.44
* VanEck Vietnam ETF (VNM [https://seekingalpha.com/symbol/VNM]) — 4.43
* iShares MSCI Austria ETF (EWO [https://seekingalpha.com/symbol/EWO]) — 4.40
* WisdomTree Japan Hedged Equity Fund ETF (DXJ [https://seekingalpha.com/symbol/DXJ]) — 4.39
* WisdomTree Japan Opportunities Fund ETF (OPPJ [https://seekingalpha.com/symbol/OPPJ]) — 4.38
* iShares MSCI South Africa ETF (EZA [https://seekingalpha.com/symbol/EZA]) — 4.38
* iShares MSCI Israel ETF (EIS [https://seekingalpha.com/symbol/EIS]) — 4.37
* Cambria Global Value ETF (GVAL [https://seekingalpha.com/symbol/GVAL]) — 4.37
* iShares MSCI Europe Financials ETF (EUFN [https://seekingalpha.com/symbol/EUFN]) — 4.36
* VanEck Africa Index ETF (AFK [https://seekingalpha.com/symbol/AFK]) — 4.36
* Freedom 100 Emerging Markets ETF (FRDM [https://seekingalpha.com/symbol/FRDM]) — 4.36
* iShares MSCI Italy ETF (EWI [https://seekingalpha.com/symbol/EWI]) — 4.35
* JPMorgan International Value ETF (JIVE [https://seekingalpha.com/symbol/JIVE]) — 4.35

MORE RELATED STORIES

* EUFN: 2025 Outperformance Persists, But European Bank Tailwinds Are Lighter [https://seekingalpha.com/article/4846217-eufn-2025-outperformance-persists-but-european-bank-tailwinds-are-lighter]
* EWO: Valuations Still Look Cheap, But Probably Prudent To Book Profits Now [https://seekingalpha.com/article/4843577-ewo-valuations-still-look-cheap-but-probably-prudent-to-book-profits-now-downgrade-hold]
* FLKR: Solid Hold Following 2025 Rally [https://seekingalpha.com/article/4840852-flkr-solid-hold-following-2025-rally]
* European markets advance on Fed rate-cut hopes, Russia-Ukraine deal sentiment [https://seekingalpha.com/news/4525188-european-markets-advance-on-fed-rate-cut-hopes-russia-ukraine-deal-sentiment]
* China stocks lag broad Asia rebound, Fed rate cut hopes and Nvidia-China optimism boost sentiment [https://seekingalpha.com/news/4525174-china-stocks-lag-broad-asia-rebound-fed-rate-cut-hopes-and-nvidia-china-optimism-boost-sentiment]