It is an actively managed ETF that follows a country rotation strategy, investing in individual developed and emerging market country ETFs outside the US and actively adjusting country weights.

It suits investors who want international diversification and trust active management to select countries.

It is an actively managed ETF run by iShares.

Rather than tracking a specific benchmark, the fund actively allocates weights across individual country ETFs such as Japan, Canada, the UK, South Korea, and China, seeking to capture relative strength between countries. Trading may be more frequent than in a passive ETF.

• Active country allocation through a combination of individual country ETFs
• More frequent portfolio adjustments than passive index-tracking funds

Assets under management (AUM) are $13.6B, and the total expense ratio is 0.55% per year.

Funds such as VEA and IEFA shown in the table, which fall into the same international developed market category, are passive index trackers with relatively fixed country weights. This ETF differs in character because its weights shift frequently through active country rotation.

Its return profile depends on the relative performance gaps between individual countries, and its volatility may differ from that of passive international ETFs depending on the timing of country weight adjustments.

Fund flows are being shaped by demand for international diversification combined with active country selection, and the pattern of inflows may change as relative strength shifts between emerging and developed markets.

Its strength is the chance to generate excess returns through active country allocation, while its drawbacks are the judgment risk inherent in active management and the cost burden.

Passive international developed market ETFs shown in the table, such as VEA, IEFA, and VXUS, have country weights fixed by their indexes, whereas this ETF actively overweights the countries among them that it judges to be relatively promising. Actual underlying country ETFs include EWJ for Japan exposure, EWC for Canada, EWU for the UK, EWY for South Korea, and MCHI for China. Investors who want to select only specific countries can compare these individual country ETFs directly.

Here are the points to review before investing in CORO. Because it is an active strategy that adjusts country weights without tracking a specific index, you should check in advance the management team's country allocation judgment and the fund's cost structure.

If country allocation decisions diverge from market expectations, the fund may lag passive international ETFs, and its exposure to many countries' currencies means it also bears exchange rate volatility. The fee burden typical of active management should be considered as well.

It suits investors who want to add active management to international country selection. If cost and stability are the priority, passive international ETFs such as VEA and IEFA can serve as alternatives.