Best North America ETFs
US and Canadian equities, the largest slice of global markets
ETFs tracked
3,548
Avg TER
0.60%
Median CAGR 3Y
+14.4%
North America is the dominant exposure in most investor portfolios for a simple reason: the US alone represents roughly 62% of global equity market capitalization as of 2024, down from 55% in 2010 as US equity markets outperformed the rest of the world. The MSCI ACWI All Country World Index allocates more than 60% to US stocks; any investor holding a global equity fund has meaningful US concentration whether they intended it or not.
The largest, cheapest, and most liquid equity ETFs on the planet sit in this category. VTI holds 4,000 US stocks at 0.03%; VOO tracks the S&P 500 at the same fee; SCHX covers US large-caps at 0.03%. Canadian exposure via EWC adds the TSX 60, dominated by financials and energy. Together, North America covers a spectrum from concentrated tech giants to resource-heavy Canadian banks.
The valuation picture is important. As of 2024 the S&P 500 trades around 20–22x forward earnings, well above the long-term average of 16x. Forward returns tend to correlate inversely with entry valuations over 10-year windows. That doesn't mean avoid US equities — it means don't expect the next decade's returns to look like the 2010s on current valuations.
Beacon ranks North America ETFs on cost, diversification, and composite quality score. The top picks are broad, ultra-cheap, and liquid enough to sit at the core of a long-horizon portfolio.
Who this is for
- Core equity allocators building around US large caps
- Global portfolios looking to match their benchmark's natural US weighting
- Not suitable as the only equity exposure for investors concerned about country concentration
Top 10 ETFs
| # | Ticker | CAGR 3Y | CAGR 5Y | Sharpe 3Y | TER |
|---|---|---|---|---|---|
| 1 | BNDPick | +3.5% | +0.2% | 0.02 | 0.03% |
| 2 | IVVPick | +22.9% | +13.1% | 1.23 | 0.03% |
| 3 | SPYMPick | +22.9% | +13.1% | 1.23 | 0.02% |
| 4 | AGGPick | +3.6% | +0.2% | 0.02 | 0.03% |
| 5 | SPLGPick | +22.7% | +13.2% | 1.22 | 0.02% |
| 6 | VUGPick | +27.9% | +13.3% | 1.18 | 0.03% |
| 7 | VTIPick | +22.6% | +11.8% | 1.17 | 0.03% |
| 8 | +16.2% | +7.3% | 0.73 | 0.05% | |
| 9 | BSVPick | +4.2% | +1.7% | 0.26 | 0.03% |
| 10 | +17.2% | +11.4% | 1.06 | 0.03% |
Browse all 3,548 north america ETFs
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Open screenerFrequently asked questions
- Why is US equity exposure so dominant in global ETFs?
- Global equity indices weight by market capitalization. The US has appreciated faster than other regions over the past 15 years — driven largely by tech platform companies — which lifted its weight from 45% of global market cap in 2008 to 62% in 2024. That concentration is mechanical, not an editorial choice by index providers.
- Is the S&P 500 overvalued in 2024?
- Current forward P/E (~20x) sits above the long-run average of 16x, driven by technology megacaps with high valuations. Historically, elevated starting valuations correlate with lower 10-year forward returns, though not year-by-year. This is a statistical tendency, not a timing signal — stocks can stay expensive for years.
- Should I hold VTI or VOO — total market or S&P 500?
- Functionally similar. VTI holds roughly 4,000 US stocks including small and mid caps; VOO holds only the 500 largest. Over 10-year windows their returns differ by a few basis points. VTI has slightly more diversification exposure; VOO has slightly more large-cap concentration. Either works as a core US holding.
- How much Canadian exposure is in broad US ETFs?
- Most US-labeled ETFs hold zero Canadian stocks — VTI, VOO, SCHX are pure US. North America-branded funds or broad developed-markets ETFs (EFA, IEFA) include Canadian exposure through separate holdings. For dedicated Canadian equity, EWC tracks the MSCI Canada 25/50 index.
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