There are GDP weighted MSCI indexes, look them up. I don’t know out of what hole did he dug up his data from, but even official MSCI backtests say that they suck.
And there’s no reason why they shouldn’t, country of stock’s HQ in quite a few cases has nothing to do with actual revenue exposure. For example, Nestlé has a lot more exposure to India than Switzerland, S&P has over 40% non US sales. ACWI (world+EM cap weighted) actually has a decent 35% EM revenue exposure already (link)
Now, an index weighted by GDP of actual revenue exposures (or better yet GDP growth) could be interesting but I haven’t seen anyone do it
There’s plenty of such factor etfs, search for ‘low volality’ or similar buzzwords. They tend to be fairly expensive compared to simple cap weighted index funds. Would not own either of them, they focus on the wrong kind of risk IMHO
The ones I found are all poorly diversified, usually along the lines of “The S&P 500 Low Volatility index tracks the 100 least volatile stocks in the S&P 500”.
The MSCI World Risk Weighted tracks the same stocks as MSCI World (Market Cap Weighted).
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