Despite the rebound in global equities this year, international stocks and related ETFs still look attractive relative to the high-flying U.S. markets.

“Relatively attractive valuations, ongoing easy monetary conditions and weaker currencies versus the greenback should support stocks in the eurozone and Japan,” BlackRock strategists, led by Richard Turnill, said in a research note.

In an extended bull run, U.S. markets have rallied to record highs but they are now trading at lofty valuations relative to historical averages. On the other hand, international markets that have mostly lagged behind the outperformance in U.S. equities remain attractively priced.

Furthermore, the strengthening global economy helps support many export-oriented industries, such as those in the Eurozone and Japan, and their depressed currencies also provide another competitive advantage.

Investors can gain exposure to Japan and the Eurozone through related ETFs, such as the iShares MSCI Japan ETF (NYSEArca: EWJ), iShares MSCI EMU ETF (NYSEArca: EZU) and SPDR EURO STOXX 50 (NYSEArca: FEZ).

However, investors should also be wary of potential currency risks when gaining overseas exposure.

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