It is an active ETF that selects stocks from developed and emerging markets outside the US based on the manager's value-driven criteria and invests in them actively. It diversifies across international companies that meet the value criteria while incorporating a responsible-investment perspective.

It is well suited for investors who want exposure to international equities enhanced by value-based screening and a responsible-investment lens.

It is an active ETF managed by Invesco.

It actively selects stocks from developed and emerging markets outside the US based on the manager's value-driven criteria. It excludes companies that fail to meet the value criteria and diversifies across those that qualify, taking an active approach that reflects a responsible-investment perspective while providing exposure to growth in international equities.

• Value-based selection of international equities
• Incorporates a responsible-investment perspective

International equities trend according to global risk appetite, dollar strength, and country-level economic cycles, and because of the value-based selection and active management structure, holdings and performance can diverge partly from broad international indices. Given the overseas exposure, the fund is also affected by currency fluctuations.

Value-based international equities see inflows and outflows shift with global risk appetite, currency trends, and demand for responsible investing, and during periods when interest in value investing rises, funds can rotate into related product groups. Investors also need to recognize that performance varies with country-level economic and currency conditions.

Value-based selection and international diversification are strengths, while overseas risk, currency exposure, and manager dependence are the key considerations.

For exposure to international developed markets without a value-based screen, direct substitutes include EFA and VEA, and for a lower-fee option on international developed markets, products such as IEFA are also worth comparing. The three products shown in the table, FNDF, GSIE, and IGF, pursue fundamentally driven, factor-equity, and global infrastructure strategies, respectively, and take a different approach from value-based selection, making them primarily reference points. The distinguishing feature of this ETF is that it actively selects international stocks based on value-driven criteria.

Here are the points to review before investing in OAIM. Value-based selection and international diversification are appealing, but overseas risk, currency exposure, and manager dependence should be checked in advance. Comparing the fund with plain international index products is also advisable.

Country-level economic slowdowns, currency moves, and the portfolio managers' selection outcomes are the main drivers of long-term performance, and the value-based screen means the holdings can differ from those of a broad international index. During broad-based weakness in international equities, losses can occur.

It is a strong candidate for investors who want to add value-based selection and a responsible-investment perspective to their international equity exposure. For those seeking international exposure without value-based criteria, products such as EFA and VEA are options, while investors looking for value-based international selection should compare this fund alongside them before deciding.