AIVI vs FEOE

AIVIBWisdomTree International AI Enhanced Value Fund

FEOEAFirst Eagle Overseas Equity ETF

In short

AIVI Stock picking handed to a machine: Voya's proprietary quantitative AI model sifts developed-market value names outside the US and Canada into a roughly 130-stock portfolio, inside a WisdomTree fund running since 2006.

FEOE First Eagle has run this overseas value playbook as a mutual fund since 1993; the ETF version landed in December 2024. Active picking of non-US companies the team judges underpriced, with MSCI EAFE as the yardstick, for 0.50% a year.

Stated mandate

AIVI The Fund seeks income and capital appreciation through primarily equity investments in developed-market companies outside the United States and Canada that exhibit value characteristics identified by Voya's proprietary quantitative AI model.

FEOE The Fund seeks long-term capital growth by investing mainly in equities issued by companies outside the United States.

Why people hold it

• AIVI Costs 0.58% a year, under the typical fund in its international value peer group.
• The AI label isn't decoration. Voya's proprietary quantitative model picks the stocks, and WisdomTree writes that into the fund's stated objective.wisdomtree.com
• Narrow, legible mandate: developed markets outside the US and Canada, value characteristics, roughly 130 names. The portfolio matches what the objective promises.
• Income sits in the objective alongside capital appreciation, and the fund distributes quarterly.

• FEOE 0.50% a year, below the median for active international value ETFs and a hair under JPMorgan's JIVE at 0.55%.
• The house style isn't new. First Eagle's Overseas mutual fund has run this value discipline since 1993; the ETF is the equity-focused expression of it.firsteagle.comfirsteagle.com 2
• MSCI EAFE is the yardstick, not the blueprint. Managers buy non-US companies they judge underpriced, so the portfolio can look nothing like the index.firsteagle.com
• The firm's gold streak carries over: its first shareholder report lists gold-related names such as Wheaton Precious Metals among the fund's contributors.firsteagle.com

Worth knowing

• AIVI Thinly traded. Limit orders and a look at the spread matter more here than with a household-name international fund.
• Cheaper than the peer median, not cheapest on the shelf: AVIV charges 0.25% and AVDV 0.36% in the same international value group.
• Active, not indexed. There's no published rulebook to audit the holdings against, so what you own rests on the model's judgment.

• FEOE Launched December 2024, so the ETF's own live record is short, however long the strategy has run in other wrappers.
• Stock picking costs more than the systematic route to the same corner: AVIV charges 0.25% and AVDV 0.36%.
• Value hunting abroad means stretches out of step with EAFE, and gold-related holdings have historically swung harder than broad equities.firsteagle.com

Full AIVI profile⁠

Full FEOE profile⁠