International factor
A listing-segment flag for US-listed foreign companies: ADRs plus a curated list of foreign-headquartered common stocks. It is first in the hierarchy, so every other factor is measured net of it. Part of FactorPulse's FPUS1 model (Style).
The exposure shown is this measure standardized across stocks; it is first in the model's hierarchy (position 1 of 18 style factors).
Last 12 months
Full history
History before Jul 15, 2026 is simulated: it was regenerated on that date with the methodology adopted then, not recorded live, and charts shade that period. Later changes apply from their dates forward; see the revision log. Point-in-time risk forecasts begin Jul 30, 2026.
Statistics
| Period | Return | Volatility (ann.) | Return / risk | Max drawdown |
|---|---|---|---|---|
| 1M | -1.07% | 4.1% | -3.10 | -1.40% |
| 3M | -1.20% | 3.6% | -1.35 | -1.57% |
| YTD | -2.11% | 3.7% | -0.69 | -4.51% |
| 1Y | -1.34% | 3.6% | -0.37 | -4.51% |
| Since Jul 2026 (live) | -0.28% | 3.6% | -0.27 | -1.57% |
| Since 2020 (incl. simulated) | -8.00% | 4.9% | -0.24 | -13.80% |
Returns are summed daily long/short factor returns before costs. Volatility and return/risk are annualized from daily data. Each factor is measured net of other factors (see above), so its return can differ from familiar indexes built on the same idea. Section 9 of the methodology (Empirical Factor Behavior) discusses each factor's realized return.
Large companies most and least exposed today
Among the 500 largest US-listed companies (market cap above $26B). Exposure is in standard deviations across about 2,000 stocks, net of the factors ranked ahead of it. When the factor return is positive, international names outperform; when it is negative, US names outperform. Exposures are capped; where 10 share the cap of +2.38 and 10 share the cap of -0.42, they are ranked by uncapped exposure.
Highest exposure
- Taiwan Semiconductor Manufacturing Company Ltd. TSM +2.38 · $2.3T
- SK hynix Inc. SKHY +2.38 · $1.2T
- ASML Holding NV ASML +2.38 · $641B
- Shell plc SHEL +2.38 · $299B
- HSBC Holdings PLC HSBC +2.38 · $295B
- Novartis AG NVS +2.38 · $295B
- Royal Bank of Canada RY +2.38 · $283B
- Sap Se SAP +2.38 · $273B
- AstraZeneca PLC AZN +2.38 · $263B
- Arm Holdings plc ARM +2.38 · $252B
Lowest exposure
- Nvidia Corp NVDA -0.42 · $5.2T
- Apple Inc. AAPL -0.42 · $5.0T
- Alphabet Inc. GOOGL -0.42 · $4.0T
- Microsoft Corp MSFT -0.42 · $3.9T
- Amazon.Com Inc AMZN -0.42 · $2.7T
- Space Exploration Technologies Corp. SPCX -0.42 · $2.0T
- Broadcom Inc. AVGO -0.42 · $1.7T
- Tesla, Inc. TSLA -0.42 · $1.6T
- Meta Platforms, Inc. META -0.42 · $1.6T
- Berkshire Hathaway Inc. BRK.A -0.42 · $1.2T
What it moves with
Most positively correlated factors (1 year)
- Gold +0.40
- Size +0.29
- Morning Activity +0.29
Most negatively correlated factors
- Value -0.18
- Growth -0.18
- Short Interest -0.14
Correlation with ETFs
| ETF | 1 year | 3 months |
|---|---|---|
| SPY S&P 500 | +0.07 | -0.31 |
| IWM Small caps | -0.05 | -0.34 |
| TLT Long Treasuries | -0.06 | -0.17 |
| USO Oil | +0.04 | +0.31 |
| SMH Semiconductors | +0.15 | -0.24 |
| GLD Gold | +0.35 | +0.11 |
| XLU Utilities | -0.01 | -0.07 |
| BITO Bitcoin futures | +0.11 | +0.17 |
| KWEB China internet | +0.40 | +0.15 |