This is an actively managed ETF that holds large-cap companies in developed markets and select emerging markets outside the US, focusing on those trading below their intrinsic value. It does not replicate a specific index. Instead, the management team selects stocks based on its own valuation work.

It suits medium- to long-term investors who want to diversify across regions and styles by adding international large-cap value stocks to a US-centered portfolio.

The ETF is actively managed by Harris Associates.

The management team estimates each company's intrinsic value and concentrates the portfolio in international large caps whose market prices sit well below that estimate. Rather than mechanically replicating an index, it follows a value investing approach and adjusts weightings according to whether the undervaluation is closing.

• Actively managed value investing in international large caps
• A concentrated, selectively built portfolio that does not track an index

Assets under management (AUM) stand at $93.3M, and the total expense ratio (Expense Ratio) is 0.65% per year.

Unlike broad international ETFs that track an index, this fund can outperform or underperform depending on its stock selection.

International value stocks often move differently from US growth stocks, so relative performance varies with the market environment. Because of its active selection approach, returns can deviate from the benchmark.

When demand rises for diversification away from heavy US concentration, money tends to flow into international large-cap products. However, active international ETFs tend to have smaller asset bases than broad passive products.

Its strength lies in value-based selection of international large caps, while performance deviation from active management and a relatively small asset base are points to watch.

Products shown in the table such as FNDF and GSIE are low-cost, rules-based ETFs that diversify broadly across international equities, while products such as IGF, GUNR and GNR concentrate on infrastructure and natural resources themes. If you want broad international exposure instead of active selection, EFA and VEA, which track developed-market large-cap indexes, can be considered as direct substitutes and comparison points. If you want to focus on the international value style, EFV and similar funds are also worth reviewing.

Here are the points to check before investing in OAKI. As an active international value ETF, it differs from index-tracking products, so it is wise to review costs, performance deviation, multi-currency exchange rates, asset size and liquidity in advance.

Performance deviation from active selection and multi-currency exchange rate movements are the main variables. Given the nature of international large-cap value stocks, the fund may move opposite to US growth stocks depending on the market environment.

It offers a diversification tool for investors who want to add international large-cap value stocks to a US-centered portfolio. If broad, low-cost exposure is the priority, EFA and VEA are options; if value-style selection matters more, OAKI is the alternative.