In short: The developed-ex-US leg of the same trio — also just past 10 years and in the top decile of its category over that period. Fits the wider argument that US investors own almost no foreign stocks ("which we think is a big mistake") at a moment when ex-US is two years into outperformance and far cheaper on CAPE.
Same machinery as SYLD — buy the companies returning the most real cash to shareholders through dividends, net buybacks and debt paydown — but applied to developed markets outside the US. It also just passed its ten-year mark in the top decile of its peer group.
It sits at the intersection of two of his arguments. First, American investors own startlingly little foreign stock, which he thinks is a mistake in itself. Second, foreign markets are far cheaper than the US on long-run valuation measures and have quietly beaten the S&P for two straight years. FYLD is his way of owning that gap without buying whatever happens to be the biggest company abroad.
27:32So, SYLD, FYLD Got my FYLD hat right here. FYLD which just hit a 10-year track FYLD has hit it EYLD's 10-year track. All three of those funds we just sent out an email, y'all probably got it. We're top decile over the past 10 years. Awesome, super cool, we're really proud of that. Some of them it's like top 5% versus their category.
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Verbatim excerpts from the public transcripts (auto-pulled at each mention's timestamp, lightly cleaned). Timestamps link into the video; "source page" opens that commentator's full analysis at this row. Click a mention's header line to expand it (one open at a time). For personal study — not investment advice.