The Eventide International ETF is an actively managed ETF that uses the large-cap and mid-cap universe of non-US international equity markets as its benchmark. It does not replicate that benchmark mechanically, instead reflecting the manager's screening and qualitative judgment.

It suits long-term investors who want regional diversification in foreign equities, who want business practices and values considered alongside financial factors, and who can accept active selection rather than index replication.

The ETF is actively managed by Eventide Investments.

While the fund references the market scope of its benchmark index, it does not replicate the index holdings. The manager uses its own business evaluation framework to review ethical issues and value creation for stakeholders, and builds the portfolio through qualitative analysis and systematic diversification management.

• Stock selection that combines values criteria with qualitative screening
• Holdings that differ from the index
• An actively managed approach to international equity diversification

Assets under management (AUM) stand at $30.0M, and the total expense ratio is 0.59% per year.

Because the fund's holdings differ from those of its benchmark, its performance may diverge from the movement of the international equity market as a whole. For a recently listed product, trading conditions and the gap between market price and net asset value should be checked individually before placing an order.

The performance of international stocks can vary with a combination of regional economic conditions, currencies, interest rates, and corporate earnings expectations. Because the ESIM ETF holds a different set of securities than the index, its performance can differ from the benchmark even when the overall market moves in the same direction, and the results of its values screening are also one source of volatility.

Fund flows into international equity ETFs are influenced by demand to reduce concentration in US stocks, regional currency conditions, and shifts in risk appetite. Since this fund applies active values screening, its selection criteria differ from those of investors looking for a simple index product, and it is important to check trading conditions and distribution policy before trading.

Combining international equity diversification with values criteria is a strength, but investors must accept relative performance differences that come from holdings that diverge from the index and from active management.

Among the ETFs in the comparison table, the FNDF ETF offers a basic approach to international equities, and the GSIE ETF is an alternative with a different management style for international equity exposure. The IGF ETF focuses on global infrastructure, while the GUNR ETF and GNR ETF focus on natural resources companies, so their industry exposure and economic sensitivity differ from those of the ESIM ETF. It is therefore reasonable to compare them by asking whether this product fits the goal of applying values criteria across international equities, or whether you instead want sector concentration or lower-cost index exposure.

When evaluating this product, do not look only at the diversification benefit of international stocks. Also check whether it replicates an index, its values screening criteria, its country and currency exposure, and trading conditions at the time of the order. In particular, you need to confirm whether holdings that differ from the benchmark match your long-term expectations.

International equity investing is exposed to changes in each country's regulations, economy, and currency. On top of that, the ESIM ETF may adopt holdings that differ from its benchmark based on active values screening, so investors must accept differences from market returns and swings in relative performance that result from stock selection.

The Eventide International ETF is an actively managed option for investors who want to diversify into international equities while emphasizing companies' business practices. Investors who put cost and index tracking first should also review the characteristics of the products in the comparison table, and it is appropriate to decide only after confirming that the values criteria and trading conditions fit their own principles.