This ETF is offers broad exposure to equity markets outside of the U.S., including both developed and emerging markets. As such, VXUS may be useful as a core holding in a long-term portfolio, potentially functioning as one stop exposure for international equity allocations. It should be noted, however, that the split between developed and emerging markets may require some fine tuning based on individual risk tolerance and investment objectives. Moreover, VXUS is heavy on large cap companies; there is little in the way of mid cap or small cap exposure (VSS can be a nice complementary holding in this regard). For investors seeking ex-U.S. equity exposure, VXUS scores well in terms of both balance of holdings and cost efficiency; this fund has thousands of individual stocks from dozens of different countries, and is among the cheapest options on the market. VXUS is likely most appealing to long-term buy-and-holders, but could also potentially be useful as a short-term "risk on" play or as part of a long/short pairs trade. Other options for similar exposure include VEU and ACWX.