EM
stock CVE

Do you only invest for a year at a time? The question was about portfolio composition (AKA long term investment).
EM is up ~7% annualized over the last 5 years (vs ~15% for the US) and ~6% annualized over the last 20 years (~12% for the US).
International Developed also outperformed EM over 5 and 20 year periods mentioned above.
Is it possible that EM outperforms in some years? Yes, of course. But everything in my previous comment is still true and that's reflected over the longer term performance. Also, you pay higher fees for owning an EM basket over the US / International Developed baskets.
Either way, you'll be just fine whether or not you own EM long term as part of your portfolio. I just feel it creates an unnecessary drag for investors who want global diversification.

Do you only invest for a year at a time? The question was about portfolio composition (AKA long term investment).
EM is up ~7% annualized over the last 5 years (vs ~15% for the US) and ~6% annualized over the last 20 years (~12% for the US).
International Developed also outperformed EM over 5 and 20 year periods mentioned above.
Is it possible that EM outperforms in some years? Yes, of course. But everything in my previous comment is still true and that's reflected over the longer term performance. Also, you pay higher fees for owning an EM basket over the US / International Developed baskets.
Either way, you'll be just fine whether or not you own EM long term as part of your portfolio. I just feel it creates an unnecessary drag for investors who want global diversification.