When you travel abroad, you can choose a budget hotel or splurge on a five-star resort. Each option has its trade-offs. Investing overseas isn’t so different: Do you go with a low-cost index fund or pay up for an active manager?

This week, I’m focusing on Vanguard’s international stock index funds—the budget-friendly way to get global diversification. Vanguard doesn’t just offer one “all-in” option. Its lineup lets you zero in on small caps, emerging markets, dividends, ESG and more. The question is: Which of these funds are worth owning?

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