This ETF offers exposure to mid cap equities in developed markets outside of the U.S., thereby delivering a way to access an asset class that is often overlooked by investors. Most international equity ETFs are dominated by large cap stocks, potentially resulting in both sector biases and diminished connection to local events. Mid and small caps can offer a unique risk/return profile, delivering increased sensitivity to local consumption and exposure that some consider to be more reflective of a national economy. As such, PDN can be appealing to those looking to construct a long-term portfolio with well-rounded exposure to international stocks, complementing large cap-heavy ETFs. This ETF could also be viewed as an alternative to EAFE ETFs such as VEA or EFA, offering exposure to the same region with a different methodology. PDN is linked to a RAFI-weighted index, utilizing a methodology that may have appeal compared to traditional market cap-weighting. This exposure comes with a heftier price tag than other options such as SCZ or MDD, but those who subscribe to the merits of RAFI weighting may believe that long-term outperformance will more than make up for any differential in fees.