Time to take out the trash – Why high ROE matters in the long run
December 4, 2025
Time and again, numbers show that high ROE stocks consistently outperform their lower-quality counterparts, even when speculative surges dominate for short periods.
Emerging Markets Small Cap
Objective
Added Value: MSCI Emerging Markets Small Cap Index (net) +3% per year over a full market cycle
Tracking Error: 4% – 8% per year over a full market cycle
Portfolio Turnover: 30% – 50% of names per year
The strategy’s objectives are targets only. The strategy’s added value or tracking error objectives may be based, in part, on the historical performance and the volatility of the strategy. Added value objectives are hypothetical and are neither a guarantee nor a prediction or projection of any future performance and are not to be relied upon as such. Actual performance may differ materially, including due to market or economic factors, portfolio management decisions or other reasons.
Quick Facts
Inception Date:
July 30, 2021
All data as at: Sep 30, 2025
Geographic Mix
India
22.47%
Taiwan
16.71%
Korea, Republic of
13.18%
China
12.41%
Brazil
5.45%
Poland
4.84%
Mexico
3.39%
Indonesia
2.93%
South Africa
2.45%
Philippines
2.12%
Turkey
2.07%
Canada
1.90%
United Kingdom
1.89%
Belgium
1.75%
Saudi Arabia
1.69%
Greece
1.34%
Thailand
1.16%
Malaysia
1.14%
Vietnam
1.11%
Sector Allocation
Industrials
20.63%
Consumer Discretionary
17.70%
Information Technology
15.31%
Materials
10.83%
Consumer Staples
9.38%
Health Care
9.19%
Financials
8.24%
Communication Services
4.38%
Real Estate
1.83%
Utilities
1.44%
Energy
0.69%
Cash
0.63%
Other
-0.25%
Contact Us
For additional information on the Global Alpha International Small Cap Strategy please contact:
Jean-Philippe Lemay
Managing Director,
Head of Institutional Sales,
Global
Tel: +1 (438) 944-9136
Email: [email protected]
Eric Hasenauer
Senior Vice President,
Co-Head of Institutional Sales,
USA
Tel: +(917) 945-0960
Email: [email protected]
John Ricketts
Senior Vice President,
Co-Head of Institutional Sales,
USA
Tel: +1 (203) 615-4847
Email: [email protected]
Carlos Stelin
Director,
Institutional Sales,
Europe
Tel: +44 (0)203 535 8107
Email: [email protected]
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July 31, 2025
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For additional information on Global Alpha Capital Management Ltd., please contact:
Jean-Philippe Lemay
Managing Director,
Head of Institutional Sales,
Global
Eric Hasenauer
Senior Vice President,
Co-Head of Institutional Sales,
USA
John Ricketts
Senior Vice President,
Co-Head of Institutional Sales,
USA
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Global Alpha Capital Management Ltd.
December 20th, 2021