Diversified Stock Portfolio: 5 Sector ETFs and International ETFs to Buy

1. BNY Mellon International Equity ETF (NYSE:BKIE)

BNY Mellon International Equity ETF (NYSE:BKIE) tracks the performance of Morningstar Developed Markets ex-US Large Cap Index, which offers broad exposure to large-cap equities in developed markets outside the United States. The fund was established on April 22, 2020 and provides an expense ratio of 0.04%. 

Novo Nordisk A/S (NYSE:NVO) is a prominent holding in BNY Mellon International Equity ETF (NYSE:BKIE)’s portfolio. It is a Denmark-based healthcare company, engaged in the research, development, manufacture, and marketing of pharmaceutical products worldwide. On January 3, JPMorgan analyst Richard Vosser raised the firm’s price target on Novo Nordisk A/S (NYSE:NVO) to DKK 1,100 from DKK 925 and maintained an Overweight rating on the shares.

According to Insider Monkey’s data, 40 hedge funds were bullish on Novo Nordisk A/S (NYSE:NVO) at the end of the third quarter of 2022, compared to 32 funds in the prior quarter. Jim Simons’ Renaissance Technologies is the largest stakeholder of the company, with 15.30 million shares worth $1.5 billion. 

Mawer Investment Management made the following comment about Novo Nordisk A/S (NYSE:NVO) in its fourth quarter 2022 investor letter:

“Reflecting the broad nature of the market’s advance during the quarter, the vast majority of portfolio holdings delivered positive returns. Some of the stronger performers across our equity funds were those that could be classified as more economically sensitive in nature, bolstered by the market’s hope that central banks may not need to be as aggressive as feared in tightening monetary policy with the latest inflation prints having shown signs of moderation. This included companies such as footwear and apparel brand Nike, coffee machine manufacturer De’Longhi, and industrial equipment dealer Finning International. Other standout performers included health care giant Novo Nordisk A/S (NYSE:NVO) and specialty insurer Trisura Group, with both companies reporting strong results.”

Insider Monkey focuses on uncovering the best investment ideas of hedge funds and insiders. Please subscribe to our free daily enewsletter to get the latest investment ideas from hedge funds’ investor letters by entering your email address below. You can also check out 16 Biggest Paint Companies in the World and 15 Largest Pipeline Companies in the World.