{"id":9473,"date":"2025-01-21T00:38:19","date_gmt":"2025-01-20T23:38:19","guid":{"rendered":"https:\/\/www.forexsrovnavac.cz\/mag\/?p=9473"},"modified":"2025-01-21T00:46:21","modified_gmt":"2025-01-20T23:46:21","slug":"svetova-etf-bez-spolecnosti-z-usa-ktere-to-jsou","status":"publish","type":"post","link":"https:\/\/www.forexsrovnavac.cz\/mag\/svetova-etf-bez-spolecnosti-z-usa-ktere-to-jsou\/","title":{"rendered":"Sv\u011btov\u00e1 ETF bez spole\u010dnost\u00ed z USA: kter\u00e9 to jsou?"},"content":{"rendered":"<p>Americk\u00e9 akcie dominovaly glob\u00e1ln\u00edm trh\u016fm v posledn\u00edm desetilet\u00ed, co\u017e vedlo k bezprecedentn\u00edmu r\u016fstu valuac\u00ed na tamn\u00edm trhu. S&amp;P 500 se aktu\u00e1ln\u011b obchoduje za 26,4n\u00e1sobek ro\u010dn\u00edch zisk\u016f, zat\u00edmco NASDAQ dokonce za 35,7n\u00e1sobek. Tato <strong>vysok\u00e1 ocen\u011bn\u00ed<\/strong> nut\u00ed investory hledat alternativn\u00ed p\u0159\u00edle\u017eitosti na glob\u00e1ln\u00edch trz\u00edch.<\/p>\n<p>Zaj\u00edmavou alternativou jsou sv\u011btov\u00e9 akciov\u00e9 trhy mimo USA, kter\u00e9 se obchoduj\u00ed za podstatn\u011b ni\u017e\u0161\u00ed valuace &#8211; pr\u016fm\u011brn\u011b za 14,8n\u00e1sobek zisk\u016f. Tento v\u00fdrazn\u00fd rozd\u00edl v ocen\u011bn\u00ed mezi americk\u00fdmi a neamerick\u00fdmi trhy p\u0159edstavuje potenci\u00e1ln\u00ed p\u0159\u00edle\u017eitost pro dlouhodob\u00e9 investory hledaj\u00edc\u00ed <strong>geografickou diverzifikaci<\/strong>.<\/p>\n<p>P\u0159esto\u017ee v\u00fdkonnost trh\u016f mimo USA v posledn\u00edch letech zaost\u00e1vala za americk\u00fdm trhem, historick\u00e1 data ukazuj\u00ed, \u017ee dominance jednotliv\u00fdch region\u016f se v \u010dase m\u011bn\u00ed. Mezi lety 1991-2010 se americk\u00e9 akcie jen z\u0159\u00eddka umis\u0165ovaly na prvn\u00edch p\u0159\u00ed\u010dk\u00e1ch v\u00fdkonnosti, co\u017e nazna\u010duje, \u017ee <strong>sou\u010dasn\u00e1 dominance USA nemus\u00ed b\u00fdt trval\u00e1<\/strong>.<\/p>\n<h2 class=\"text-xl font-bold text-text-200 mt-1 -mb-0.5\">Co jsou ETF bez expozice na USA<\/h2>\n<p><a href=\"https:\/\/www.forexsrovnavac.cz\/mag\/co-jsou-to-etf-vyhody-a-nevyhody-investovani-do-etf\/\">ETF<\/a> bez expozice na USA jsou burzovn\u011b obchodovan\u00e9 fondy, kter\u00e9 c\u00edlen\u011b vylu\u010duj\u00ed americk\u00e9 spole\u010dnosti ze sv\u00e9ho portfolia a zam\u011b\u0159uj\u00ed se na sledov\u00e1n\u00ed v\u00fdkonnosti sv\u011btov\u00fdch akciov\u00fdch trh\u016f mimo Spojen\u00e9 st\u00e1ty. Tyto fondy typicky replikuj\u00ed specializovan\u00e9 indexy pokr\u00fdvaj\u00edc\u00ed vysp\u011bl\u00e9 i rozv\u00edjej\u00edc\u00ed se trhy mimo USA.<\/p>\n<p>Pro evropsk\u00e9 investory je p\u0159\u00edjemn\u00e9, \u017ee tyto fondy jsou <strong>b\u011b\u017en\u011b k dispozici v eurech<\/strong>, co\u017e eliminuje nutnost m\u011bnov\u00fdch konverz\u00ed p\u0159i n\u00e1kupu. V\u011bt\u0161ina fond\u016f tak\u00e9 nab\u00edz\u00ed akumula\u010dn\u00ed t\u0159\u00eddu, kde se dividendy automaticky reinvestuj\u00ed &#8211; to je praktick\u00e9 zejm\u00e9na pro dlouhodob\u00e9 investory, kte\u0159\u00ed necht\u011bj\u00ed \u0159e\u0161it pravideln\u00e9 reinvestov\u00e1n\u00ed mal\u00fdch \u010d\u00e1stek.<\/p>\n<p><strong>Jak poznat ETF bez USA expozice<\/strong><\/p>\n<ul>\n<li>Ticker \u010dasto obsahuje ozna\u010den\u00ed &#8222;ex-US&#8220; nebo podobn\u00fd identifik\u00e1tor<\/li>\n<li>V n\u00e1zvu fondu specifikace &#8222;World ex USA&#8220; nebo &#8222;Developed Markets ex US&#8220;<\/li>\n<li>V dokumentaci fondu (KIID) jasn\u011b definovan\u00e9 geografick\u00e9 zam\u011b\u0159en\u00ed<\/li>\n<li>Detailn\u00ed slo\u017een\u00ed portfolia dostupn\u00e9 na webu poskytovatele<\/li>\n<\/ul>\n<p>N\u00e1kladovost t\u011bchto fond\u016f je p\u0159ekvapiv\u011b n\u00edzk\u00e1, s <a href=\"https:\/\/www.forexsrovnavac.cz\/mag\/celkove-naklady-a-poplatky-za-drzeni-etf-ukazatel-nakladovosti-ter\/\">TER<\/a> \u010dasto jen kolem 0,15 a\u017e 0,20 procenta ro\u010dn\u011b, co\u017e je vzhledem k \u0161\u00ed\u0159i pokryt\u00ed velmi konkurenceschopn\u00e9. D\u00edky aktivn\u00edm market maker\u016fm maj\u00ed fondy dobrou likviditu, tak\u017ee i v\u011bt\u0161\u00ed obchody lze prov\u00e9st bez v\u00fdrazn\u00e9ho vlivu na cenu.<\/p>\n<div id=\"attachment_9479\" style=\"width: 843px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/www.forexsrovnavac.cz\/mag\/wp-content\/uploads\/2025\/01\/usa-trhy-akcie-vs-zbytek-sveta.png\"><img alt=\"\" loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-9479\" class=\"wp-image-9479 size-full\" title=\"Porovn\u00e1v\u00e1 americk\u00e9ho akciov\u00e9ho trhu a zbytku sv\u011bta\" src=\"https:\/\/www.forexsrovnavac.cz\/mag\/wp-content\/uploads\/2025\/01\/usa-trhy-akcie-vs-zbytek-sveta.png\" alt=\"\" width=\"843\" height=\"668\" srcset=\"https:\/\/www.forexsrovnavac.cz\/mag\/wp-content\/uploads\/2025\/01\/usa-trhy-akcie-vs-zbytek-sveta.png 843w, https:\/\/www.forexsrovnavac.cz\/mag\/wp-content\/uploads\/2025\/01\/usa-trhy-akcie-vs-zbytek-sveta-150x119.png 150w, https:\/\/www.forexsrovnavac.cz\/mag\/wp-content\/uploads\/2025\/01\/usa-trhy-akcie-vs-zbytek-sveta-768x609.png 768w, https:\/\/www.forexsrovnavac.cz\/mag\/wp-content\/uploads\/2025\/01\/usa-trhy-akcie-vs-zbytek-sveta-50x40.png 50w, https:\/\/www.forexsrovnavac.cz\/mag\/wp-content\/uploads\/2025\/01\/usa-trhy-akcie-vs-zbytek-sveta-40x32.png 40w, https:\/\/www.forexsrovnavac.cz\/mag\/wp-content\/uploads\/2025\/01\/usa-trhy-akcie-vs-zbytek-sveta-101x80.png 101w, https:\/\/www.forexsrovnavac.cz\/mag\/wp-content\/uploads\/2025\/01\/usa-trhy-akcie-vs-zbytek-sveta-170x135.png 170w\" sizes=\"auto, (max-width: 843px) 100vw, 843px\" \/><\/a><p id=\"caption-attachment-9479\" class=\"wp-caption-text\">Porovn\u00e1v\u00e1 n\u011bkter\u00fdch metrik americk\u00e9ho akciov\u00e9ho trhu a zbytku sv\u011bta<\/p><\/div>\n<h2>Nejv\u00fdznamn\u011bj\u0161\u00ed sv\u011btov\u00e9 ETF bez USA<\/h2>\n<p>Na sv\u011btov\u00fdch trz\u00edch najdeme n\u011bkolik v\u00fdznamn\u00fdch ETF fond\u016f, kter\u00e9 se zam\u011b\u0159uj\u00ed na investice mimo USA. Tyto fondy m\u016f\u017eeme rozd\u011blit do n\u011bkolika hlavn\u00edch kategori\u00ed podle geografick\u00e9ho zam\u011b\u0159en\u00ed.<\/p>\n<p>Na evropsk\u00e9m trhu pat\u0159\u00ed mezi nejobl\u00edben\u011bj\u0161\u00ed fondy ty, kter\u00e9 sleduj\u00ed index STOXX Europe 600. Tento index pokr\u00fdv\u00e1 600 nejv\u011bt\u0161\u00edch evropsk\u00fdch spole\u010dnost\u00ed nap\u0159\u00ed\u010d 17 zem\u011bmi a nab\u00edz\u00ed tak \u0161irokou diverzifikaci. Pro konzervativn\u011bj\u0161\u00ed investory je zaj\u00edmavou alternativou Euro STOXX 50 ETF, kter\u00fd se soust\u0159ed\u00ed na 50 nejv\u011bt\u0161\u00edch spole\u010dnost\u00ed euroz\u00f3ny, v\u010detn\u011b firem jako <a href=\"https:\/\/www.forexsrovnavac.cz\/cs\/nizozemske-akcie-kurzy\/asml\">ASML<\/a>, SAP nebo Novo Nordisk. Z dal\u0161\u00edch evropsk\u00fdch fond\u016f stoj\u00ed za zm\u00ednku ETF zam\u011b\u0159en\u00e9 na jednotliv\u00e9 zem\u011b, nap\u0159\u00edklad n\u011bmeck\u00fd DAX nebo francouzsk\u00fd CAC 40.<\/p>\n<p>V asijsk\u00e9m regionu dominuj\u00ed p\u0159edev\u0161\u00edm japonsk\u00e9 ETF fondy, kter\u00e9 tvo\u0159\u00ed p\u0159ibli\u017en\u011b 20 % portfolia sv\u011btov\u00fdch index\u016f mimo USA. Japonsk\u00fd trh je atraktivn\u00ed d\u00edky stabiln\u00edmu korpor\u00e1tn\u00edmu prost\u0159ed\u00ed a siln\u00e9 m\u011bn\u011b. \u010c\u00ednsk\u00e9 a hongkongsk\u00e9 ETF nab\u00edzej\u00ed expozici na druh\u00fd nejv\u011bt\u0161\u00ed akciov\u00fd trh sv\u011bta, je v\u0161ak t\u0159eba po\u010d\u00edtat s vy\u0161\u0161\u00ed volatilitou a politick\u00fdmi riziky. Region dopl\u0148uj\u00ed fondy zam\u011b\u0159en\u00e9 na Ji\u017en\u00ed Koreu, Tchaj-wan nebo rozvinut\u00e9 trhy jako Singapur.<\/p>\n<p>Zaj\u00edmavou, i kdy\u017e rizikov\u011bj\u0161\u00ed alternativu p\u0159edstavuj\u00ed ETF zam\u011b\u0159en\u00e9 na rozv\u00edjej\u00edc\u00ed se trhy. BRICS ETF nab\u00edzej\u00ed expozici na rychle rostouc\u00ed ekonomiky Braz\u00edlie, Ruska, Indie, \u010c\u00edny a Ji\u017en\u00ed Afriky. Latinsk\u00e1 Amerika l\u00e1k\u00e1 investory p\u0159edev\u0161\u00edm d\u00edky sv\u00e9mu siln\u00e9mu komoditn\u00edmu sektoru a rostouc\u00ed st\u0159edn\u00ed t\u0159\u00edd\u011b. Dal\u0161\u00ed zaj\u00edmav\u00e9 p\u0159\u00edle\u017eitosti nab\u00edzej\u00ed trhy jihov\u00fdchodn\u00ed Asie nebo vybran\u00e9 africk\u00e9 ekonomiky.<\/p>\n\n\t<div class=\"space-shortcode-wrap space-shortcode-4 relative\">\n\t\t<div class=\"space-shortcode-wrap-ins relative\">\n\n\t\t\t\t\t\t<div class=\"space-block-title relative\">\n\t\t\t\t<span>Koupit sv\u011btov\u00e1 ETF bez poplatk\u016f od 1000 K\u010d.<\/span>\n\t\t\t<\/div>\n\t\t\t\n\t\t\t<div class=\"space-organizations-3-archive-items box-100 relative\">\n\n\t\t\t\t\n\t\t\t\t<div class=\"space-organizations-3-archive-item box-100 relative\">\n\t\t\t\t\t<div class=\"space-organizations-3-archive-item-ins relative\">\n\t\t\t\t\t\t<div class=\"space-organizations-3-archive-item-logo box-25 relative\">\n\t\t\t\t\t\t\t<div class=\"space-organizations-3-archive-item-logo-ins box-100 text-center relative\">\n\n\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"180\" height=\"72\" src=\"https:\/\/www.forexsrovnavac.cz\/mag\/wp-content\/uploads\/2021\/05\/xtb.png\" class=\"attachment-mercury-9999-80 size-mercury-9999-80\" alt=\"XTB\" srcset=\"https:\/\/www.forexsrovnavac.cz\/mag\/wp-content\/uploads\/2021\/05\/xtb.png 180w, https:\/\/www.forexsrovnavac.cz\/mag\/wp-content\/uploads\/2021\/05\/xtb-150x60.png 150w, https:\/\/www.forexsrovnavac.cz\/mag\/wp-content\/uploads\/2021\/05\/xtb-100x40.png 100w, https:\/\/www.forexsrovnavac.cz\/mag\/wp-content\/uploads\/2021\/05\/xtb-80x32.png 80w\" sizes=\"auto, (max-width: 180px) 100vw, 180px\" \/>\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"space-organizations-3-archive-item-count absolute\">\n\t\t\t\t\t\t\t\t\t<span>1<\/span>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<div class=\"space-organizations-3-archive-item-terms box-25 relative\">\n\t\t\t\t\t\t\t<div class=\"space-organizations-3-archive-item-terms-ins box-100 text-center relative\">\n\t\t\t\t\t\t\tRe\u00e1ln\u00e9 akcie a ETF. N\u00edzk\u00e9 poplatky + \u010cesk\u00e1 z\u00e1kaznick\u00e1 podpora. V\u00edce ne\u017e 8600 instrument\u016f k obchodov\u00e1n\u00ed. Denn\u00ed webin\u00e1\u0159e a zpr\u00e1vy z trh\u016f pro klienty.\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<div class=\"space-organizations-3-archive-item-rating box-25 relative\">\n\t\t\t\t\t\t\t<div class=\"space-organizations-3-archive-item-rating-ins box-100 text-center relative\">\n\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"space-organizations-3-archive-item-rating-box relative\">\n\t\t\t\t\t\t\t\t\t\t<div class=\"star-rating\"><div class=\"star star-full\" aria-hidden=\"true\"><\/div><div class=\"star star-full\" aria-hidden=\"true\"><\/div><div class=\"star star-full\" aria-hidden=\"true\"><\/div><div class=\"star star-full\" aria-hidden=\"true\"><\/div><div class=\"star star-half\" aria-hidden=\"true\"><\/div><\/div>\t\t\t\t\t\t\t\t\t\t<span>4.8<\/span>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"space-organization-header-button-notice relative\" style=\"margin-top: 5px;\">\n\t\t\t\t\t\t\t\t\t\t<span class=\"tc-apply\">Hodnocen\u00ed u\u017eivatel\u016f<\/span>\n\t\t\t\t\t\t\t\t\t\t<div class=\"tc-desc\">\n\t\t\t\t\t\t\t\t\t\t\t&nbsp;\r\n\r\n \t\u27a1\ufe0f Trustpilot hodnocen\u00ed 4.0\/5 \u2b50 \u00a0(Pr\u016fm\u011br z celkov\u00e9ho po\u010dtu 1174 hodnocen\u00ed)\r\n \t\u27a1\ufe0f Google play hodnocen\u00ed 4,4\/5 \u2b50 (Pr\u016fm\u011br z celkov\u00e9ho po\u010dtu 57 000 hodnocen\u00ed)\r\n\r\n&nbsp;\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t<div class=\"space-organizations-archive-item-button-notice relative\" style=\"margin-top: 5px;\">\n\t\t\t\t\t\t\t\t\t75% CFDs \u00fa\u010dt\u016f je ztr\u00e1tov\u00fdch\t\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<div class=\"space-organizations-3-archive-item-button box-25 relative\">\n\t\t\t\t\t\t\t<div class=\"space-organizations-3-archive-item-button-ins box-100 text-center relative\">\n\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.forexsrovnavac.cz\/mag\/xt-cs\" title=\"Nav\u0161t\u00edvit XTB\" target=\"_blank\" rel=\"nofollow\"><i class=\"fas fa-check-circle\"><\/i> Nav\u0161t\u00edvit XTB<\/a>\n\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\n\t\t\t\t\n\t\t\t<\/div>\n\t\t\t\n\t\t<\/div>\n\t<\/div>\n\n\n<p>Zde je v\u00fdb\u011br <strong>nejv\u011bt\u0161\u00edch ETF pokr\u00fdvaj\u00edc\u00edch r\u016fzn\u00e9 regiony sv\u011bta<\/strong>, zam\u011b\u0159en\u00fdch na firmy mimo USA:<\/p>\n<stock-market-widget type=\"table-quotes\" template=\"basic\" assets=\"VFEA.DE,ACWX,EUE.MI,IMEU.MI,EMAS.L,IFFF.L,CSPXJZ.XC,VAPXL.XC,EEM,VFEM.L,INDA,ICGA.DE\" fields=\"logo_name,symbol,price,change_pct,exchange_name\" display_header=\"true\" display_chart=\"false\" search=\"false\" pagination=\"false\" scroll=\"false\" rows_per_page=\"5\" sort_direction=\"asc\" alignment=\"left\" realtime=\"true\" chart_range=\"1mo\" chart_interval=\"1d\" api=\"yahoo-finance\"><\/stock-market-widget>\n<p>Pro vyv\u00e1\u017een\u00e9 portfolio m\u016f\u017ee b\u00fdt rozumn\u00e9 kombinovat ETF z r\u016fzn\u00fdch region\u016f, \u010d\u00edm\u017e z\u00edsk\u00e1te skute\u010dn\u011b glob\u00e1ln\u00ed expozici mimo USA. D\u016fle\u017eit\u00e9 je v\u011bnovat pozornost likvidit\u011b fond\u016f, jejich velikosti a n\u00e1kladovosti, kter\u00e1 se m\u016f\u017ee mezi regiony v\u00fdrazn\u011b li\u0161it. Dal\u0161\u00ed ETF bez expozice na USA lze vyhledat nap\u0159\u00edklad na webu justetf.com <a href=\"https:\/\/www.justetf.com\/en\/how-to\/invest-worldwide.html\">zde<\/a>.<\/p>\n<h2>Pro\u010d ETF bez USA mohou byt vhodn\u00e1 pro dlouhodob\u00e9 investice?<\/h2>\n<p>Investice do ETF fond\u016f mimo USA mohou v sou\u010dasn\u00e9 dob\u011b p\u0159edstavovat zaj\u00edmavou p\u0159\u00edle\u017eitost, p\u0159edev\u0161\u00edm kv\u016fli v\u00fdrazn\u00e9mu rozd\u00edlu v ocen\u011bn\u00edch. Zat\u00edmco americk\u00fd S&amp;P 500 se obchoduje za v\u00edce ne\u017e 26x n\u00e1sobek zisk\u016f, akcie mimo USA lze koupit v pr\u016fm\u011bru za pouh\u00fd 14x n\u00e1sobek. Tento t\u00e9m\u011b\u0159 dvojn\u00e1sobn\u00fd rozd\u00edl v ocen\u011bn\u00ed je historicky neobvykl\u00fd a vytv\u00e1\u0159\u00ed potenci\u00e1l pro budouc\u00ed r\u016fst.<\/p>\n<p>Je pravda, \u017ee v\u00fdkonnost trh\u016f mimo USA v posledn\u00edch 15 letech zaost\u00e1vala &#8211; pr\u016fm\u011brn\u00fd ro\u010dn\u00ed v\u00fdnos 6,4 % oproti 14,5 % u S&amp;P 500 mluv\u00ed jasn\u011b. Tento trend byl ta\u017een\u00fd p\u0159edev\u0161\u00edm dominanc\u00ed <strong>americk\u00fdch technologick\u00fdch gigant\u016f<\/strong>. Paradoxn\u011b pr\u00e1v\u011b men\u0161\u00ed z\u00e1vislost na technologick\u00e9m sektoru m\u016f\u017ee b\u00fdt nyn\u00ed v\u00fdhodou, proto\u017ee sni\u017euje riziko koncentrace portfolia.<\/p>\n<p class=\"text-lg font-bold text-text-200 mt-1 -mb-1.5\"><strong>V\u00fdhody:<\/strong><\/p>\n<ul>\n<li>Ni\u017e\u0161\u00ed valuace<\/li>\n<li>V\u011bt\u0161\u00ed geografick\u00e1 diverzifikace<\/li>\n<li>Men\u0161\u00ed z\u00e1vislost na technologick\u00e9m sektoru<\/li>\n<\/ul>\n<p>Zaj\u00edmav\u00e9 je, \u017ee zat\u00edmco valuace americk\u00fdch akci\u00ed jsou na historick\u00fdch maximech, ocen\u011bn\u00ed trh\u016f mimo USA se pohybuje na dlouhodob\u00e9m pr\u016fm\u011bru. To vytv\u00e1\u0159\u00ed asymetrick\u00fd profil rizika a v\u00fdnosu &#8211; p\u0159i n\u00e1vratu valua\u010dn\u00edch rozd\u00edl\u016f k historick\u00e9mu pr\u016fm\u011bru by neamerick\u00e9 akcie m\u011bly potenci\u00e1l pro nadpr\u016fm\u011brn\u00e9 v\u00fdnosy.<\/p>\n<p>Investo\u0159i by v\u0161ak m\u011bli zv\u00e1\u017eit, \u017ee ni\u017e\u0161\u00ed zastoupen\u00ed technologick\u00fdch spole\u010dnost\u00ed m\u016f\u017ee b\u00fdt dvouse\u010dn\u00e9 &#8211; sice sni\u017euje riziko, ale tak\u00e9<strong> m\u016f\u017ee znamenat ni\u017e\u0161\u00ed r\u016fstov\u00fd potenci\u00e1l<\/strong>. Kl\u00ed\u010dov\u00e9 je proto vn\u00edmat ETF bez USA expozice p\u0159edev\u0161\u00edm jako dopln\u011bk portfolia, kter\u00fd m\u016f\u017ee pomoci s diverzifikac\u00ed, nikoli jako kompletn\u00ed n\u00e1hradu investic do americk\u00fdch akci\u00ed<\/p>\n<p><strong>Rizika:<\/strong><\/p>\n<ul>\n<li>Historicky ni\u017e\u0161\u00ed v\u00fdkonnost<\/li>\n<li>Ni\u017e\u0161\u00ed zastoupen\u00ed r\u016fstov\u00fdch technologick\u00fdch spole\u010dnost\u00ed<\/li>\n<li>Politick\u00e1 a regulatorn\u00ed rizika na r\u016fzn\u00fdch trz\u00edch<\/li>\n<\/ul>\n<p>Geografick\u00e1 diverzifikace p\u0159in\u00e1\u0161\u00ed tak\u00e9 ur\u010ditou ochranu proti specifick\u00fdm rizik\u016fm americk\u00e9ho trhu, a\u0165 u\u017e jde o mo\u017en\u00e9 regulatorn\u00ed zm\u011bny nebo potenci\u00e1ln\u00ed ochlazen\u00ed tamn\u00ed ekonomiky. Na druhou stranu je t\u0159eba po\u010d\u00edtat s m\u011bnov\u00fdm rizikem a \u010dasto ni\u017e\u0161\u00ed likviditou n\u011bkter\u00fdch zahrani\u010dn\u00edch trh\u016f. Politick\u00e1 nestabilita v n\u011bkter\u00fdch regionech m\u016f\u017ee tak\u00e9 p\u0159edstavovat riziko.<\/p>\n<h2>Z\u00e1v\u011br a shrnut\u00ed<\/h2>\n<p>Do budoucna lze o\u010dek\u00e1vat, \u017ee sou\u010dasn\u00e1 dominance americk\u00fdch akci\u00ed nemus\u00ed b\u00fdt trval\u00e1. Historie ukazuje, \u017ee vedouc\u00ed pozice na akciov\u00fdch trz\u00edch se v \u010dase st\u0159\u00eddaj\u00ed. Zat\u00edmco posledn\u00ed dek\u00e1du jasn\u011b v\u00e9vodily americk\u00e9 technologick\u00e9 spole\u010dnosti, p\u0159\u00ed\u0161t\u00ed obdob\u00ed m\u016f\u017ee pat\u0159it jin\u00fdm region\u016fm nebo sektor\u016fm. ETF bez expozice na USA tak mohou slou\u017eit jako <strong>d\u016fle\u017eit\u00fd n\u00e1stroj diverzifikace<\/strong> a potenci\u00e1ln\u00ed zdroj nadpr\u016fm\u011brn\u00fdch v\u00fdnos\u016f v p\u0159\u00edpad\u011b zm\u011bny tr\u017en\u00edch preferenc\u00ed.<\/p>\n<p>Je v\u0161ak d\u016fle\u017eit\u00e9 zd\u016fraznit, \u017ee nejde o n\u00e1hradu americk\u00fdch akci\u00ed, ale sp\u00ed\u0161e o jejich dopln\u011bk. Rozumn\u00fd p\u0159\u00edstup <strong>m\u016f\u017ee b\u00fdt postupn\u00e9 budov\u00e1n\u00ed pozic<\/strong> v t\u011bchto fondech, zejm\u00e9na v obdob\u00ed, kdy jsou valua\u010dn\u00ed rozd\u00edly tak v\u00fdrazn\u00e9 jako dnes. V dlouhodob\u00e9m horizontu by vyv\u00e1\u017een\u00e9 glob\u00e1ln\u00ed portfolio m\u011blo obsahovat jak americk\u00e9, tak neamerick\u00e9 akcie v pom\u011bru, kter\u00fd odpov\u00edd\u00e1 rizikov\u00e9mu profilu a investi\u010dn\u00edm c\u00edl\u016fm ka\u017ed\u00e9ho investora.<\/p>\n<style>\n\t\t#faqsu-faq-list {\n\t\t\tbackground: #F0F4F8;\n\t\t\tborder-radius: 5px;\n\t\t\tpadding: 15px;\n\t\t}\n\t\t#faqsu-faq-list .faqsu-faq-single {\n\t\t\tbackground: #fff;\n\t\t\tpadding: 15px 15px 20px;\n\t\t\tbox-shadow: 0px 0px 10px #d1d8dd, 0px 0px 40px #ffffff;\n\t\t\tborder-radius: 5px;\n\t\t\tmargin-bottom: 1rem;\n\t\t}\n\t\t#faqsu-faq-list .faqsu-faq-single:last-child {\n\t\t\tmargin-bottom: 0;\n\t\t}\n\t\t#faqsu-faq-list .faqsu-faq-question {\n\t\t\tborder-bottom: 1px solid #F0F4F8;\n\t\t\tpadding-bottom: 0.825rem;\n\t\t\tmargin-bottom: 0.825rem;\n\t\t\tposition: relative;\n\t\t\tpadding-right: 40px;\n\t\t}\n\t\t#faqsu-faq-list .faqsu-faq-question:after {\n\t\t\tcontent: \"?\";\n\t\t\tposition: absolute;\n\t\t\tright: 0;\n\t\t\ttop: 0;\n\t\t\twidth: 30px;\n\t\t\tline-height: 30px;\n\t\t\ttext-align: center;\n\t\t\tcolor: #c6d0db;\n\t\t\tbackground: #F0F4F8;\n\t\t\tborder-radius: 40px;\n\t\t\tfont-size: 20px;\n\t\t}\n\t\t<\/style>\n\t\t\n\t\t<section id=\"faqsu-faq-list\" itemscope itemtype=\"http:\/\/schema.org\/FAQPage\"><div class=\"faqsu-faq-single\" itemscope itemprop=\"mainEntity\" itemtype=\"https:\/\/schema.org\/Question\">\n\t\t\t\t\t<h3 class=\"faqsu-faq-question\" itemprop=\"name\">Jak\u00e9 jsou v\u00fdhody ETF bez americk\u00fdch akci\u00ed?<\/h3>\n\t\t\t\t\t<div itemscope itemprop=\"acceptedAnswer\" itemtype=\"https:\/\/schema.org\/Answer\">\n\t\t\t\t\t\t<div class=\"faqsu-faq-answare\" itemprop=\"text\">ETF fondy mimo USA nab\u00edzej\u00ed ni\u017e\u0161\u00ed valuace (P\/E 14,8 oproti 26,4) a lep\u0161\u00ed geografickou diverzifikaci portfolia.<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div><div class=\"faqsu-faq-single\" itemscope itemprop=\"mainEntity\" itemtype=\"https:\/\/schema.org\/Question\">\n\t\t\t\t\t<h3 class=\"faqsu-faq-question\" itemprop=\"name\">Pro\u010d investovat do ETF mimo USA?<\/h3>\n\t\t\t\t\t<div itemscope itemprop=\"acceptedAnswer\" itemtype=\"https:\/\/schema.org\/Answer\">\n\t\t\t\t\t\t<div class=\"faqsu-faq-answare\" itemprop=\"text\">Investice do sv\u011btov\u00fdch ETF mimo USA sni\u017euj\u00ed z\u00e1vislost na technologick\u00e9m sektoru a nab\u00edzej\u00ed p\u0159\u00edstup k rostouc\u00edm trh\u016fm v Evrop\u011b a Asii.<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div><div class=\"faqsu-faq-single\" itemscope itemprop=\"mainEntity\" itemtype=\"https:\/\/schema.org\/Question\">\n\t\t\t\t\t<h3 class=\"faqsu-faq-question\" itemprop=\"name\">Jak vysok\u00e9 jsou poplatky u ETF mimo USA?<\/h3>\n\t\t\t\t\t<div itemscope itemprop=\"acceptedAnswer\" itemtype=\"https:\/\/schema.org\/Answer\">\n\t\t\t\t\t\t<div class=\"faqsu-faq-answare\" itemprop=\"text\">Poplatky u ETF mimo USA se pohybuj\u00ed mezi 0,15-0,20 % ro\u010dn\u011b, co\u017e je srovnateln\u00e9 s americk\u00fdmi fondy.<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div><div class=\"faqsu-faq-single\" itemscope itemprop=\"mainEntity\" itemtype=\"https:\/\/schema.org\/Question\">\n\t\t\t\t\t<h3 class=\"faqsu-faq-question\" itemprop=\"name\">Jak se da\u0159\u00ed ETF v Evrop\u011b oproti USA?<\/h3>\n\t\t\t\t\t<div itemscope itemprop=\"acceptedAnswer\" itemtype=\"https:\/\/schema.org\/Answer\">\n\t\t\t\t\t\t<div class=\"faqsu-faq-answare\" itemprop=\"text\">Evropsk\u00e9 akciov\u00e9 trhy jsou aktu\u00e1ln\u011b v\u00fdrazn\u011b levn\u011bj\u0161\u00ed ne\u017e americk\u00e9, s P\/E kolem 14,8 oproti 26,4 u S&amp;P 500.<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div><\/section>\n","protected":false},"excerpt":{"rendered":"<p>Americk\u00e9 akcie dominovaly glob\u00e1ln\u00edm trh\u016fm v posledn\u00edm desetilet\u00ed, co\u017e vedlo k bezprecedentn\u00edmu r\u016fstu valuac\u00ed na tamn\u00edm trhu. S&amp;P 500 se aktu\u00e1ln\u011b obchoduje za 26,4n\u00e1sobek ro\u010dn\u00edch zisk\u016f, zat\u00edmco NASDAQ dokonce za 35,7n\u00e1sobek. Tato vysok\u00e1 ocen\u011bn\u00ed nut\u00ed investory hledat alternativn\u00ed p\u0159\u00edle\u017eitosti na glob\u00e1ln\u00edch trz\u00edch. Zaj\u00edmavou alternativou jsou sv\u011btov\u00e9 akciov\u00e9 trhy mimo USA, kter\u00e9 se obchoduj\u00ed za podstatn\u011b [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":9480,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_seopress_robots_primary_cat":"","_seopress_titles_title":"","_seopress_titles_desc":"ETF fondy investuj\u00edc\u00ed mimo USA: porovn\u00e1n\u00ed P\/E, anal\u00fdza v\u00fdnos\u016f, rizik a p\u0159ehled p\u0159edn\u00edch sv\u011btov\u00fdch ETF bez akci\u00ed firem z USA.","_seopress_robots_index":"","_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[194],"tags":[],"class_list":["post-9473","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-akcie"],"modified_by":"Krpensk\u00fd Martin","_links":{"self":[{"href":"https:\/\/www.forexsrovnavac.cz\/mag\/wp-json\/wp\/v2\/posts\/9473","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.forexsrovnavac.cz\/mag\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.forexsrovnavac.cz\/mag\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.forexsrovnavac.cz\/mag\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.forexsrovnavac.cz\/mag\/wp-json\/wp\/v2\/comments?post=9473"}],"version-history":[{"count":0,"href":"https:\/\/www.forexsrovnavac.cz\/mag\/wp-json\/wp\/v2\/posts\/9473\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.forexsrovnavac.cz\/mag\/wp-json\/wp\/v2\/media\/9480"}],"wp:attachment":[{"href":"https:\/\/www.forexsrovnavac.cz\/mag\/wp-json\/wp\/v2\/media?parent=9473"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.forexsrovnavac.cz\/mag\/wp-json\/wp\/v2\/categories?post=9473"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.forexsrovnavac.cz\/mag\/wp-json\/wp\/v2\/tags?post=9473"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}