FEOE vs JDVI

FEOEAFirst Eagle Overseas Equity ETF

JDVIDJohn Hancock Disciplined Value International Select ETF

In short

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.

JDVI A concentrated take on international value: roughly 40 developed- and emerging-market stocks picked bottom-up for quality and cheapness, priced at 0.69% net of a waiver through July 31, 2027 (0.98% gross).

Stated mandate

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

JDVI The fund seeks long-term capital growth through a diversified portfolio of developed- and emerging-market international stocks considered high quality and undervalued, selected through bottom-up fundamental research with disciplined valuation and risk control.

Why people hold it

• 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

• JDVI Roughly 40 names, not a sprawling index basket. Each holding has to earn its slot through bottom-up fundamental research on quality and valuation.
• The mandate covers developed and emerging markets in one wrapper, so the manager can hunt cheap quality in Tokyo or Taipei without a bolt-on EM fund.
• A contractual waiver cuts the 0.98% gross fee to 0.69% through July 31, 2027, so today's sticker is the lower number.

Worth knowing

• 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

• JDVI Cost sits above the category norm even after the waiver that trims 0.98% gross to 0.69% through July 31, 2027. Unwaived rivals AVIV (0.25%) and AVDV (0.36%) charge less.
• Concentration cuts both ways: with about 40 holdings, one name or one country moves this fund harder than it would a broad international index.
• Short history. Shares began trading in December 2023, so there is limited record of how the strategy behaves across a full market cycle.

Full FEOE profile⁠

Full JDVI profile⁠