U.S. stocks have been a mainstay in many investors’ portfolios, with many ignoring international markets altogether. However, traders are remiss if they overlook global ETFs for a diversified portfolio ahead.

The global expansion remains steady and relatively synchronized across major economies around the world. According to Fidelity, most developed economies express a low recession risk and are in the mature stages of a business cycle, with the Eurozone enjoying above trend growth. China, the second largest economy in the world, is also in the midst of an expansionary phase. Overall, the global economy is standing firm.

“We continue to favor global equities in an environment of steady growth, low inflation, and significant monetary accommodation,” according to Fidelity.

Related: ETFs to Capture Global Expansion & Limit Potential Risks

However, Fidelity warned that we are in the midst of a slow transition towards less accommodative monetary policies and global economic activity is likely peaking, with rising risks ahead.

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