First Eagle Global Equity ETF: Q3 2025 Performance and Outlook

The First Eagle Global Equity ETF delivered modest gains in Q3 2025 as selective stock selection and defensive positioning helped the fund navigate a mixed macro backdrop. Volatility persisted across regions, driven by uneven economic data, central bank policy shifts and sector rotation. Against that environment the fund emphasized durable businesses trading at reasonable valuations, seeking downside protection while capturing upside from idiosyncratic opportunities.

Portfolio positioning remained focused on quality and value-oriented names with strong cash flows and durable competitive advantages. Sector exposures were deliberately balanced; the fund maintained allocations to consumer staples, healthcare and industrials while holding selective positions in technology where long-term secular growth was clear and valuations were attractive. Geographic diversification continued to be a cornerstone, with holdings across developed and select emerging markets to manage country-specific risks.

The management team flagged several contributors and detractors without naming individual positions in this commentary. Positive contributions generally came from companies with resilient earnings and modest leverage, while cyclical and highly rate-sensitive names experienced pressure amid shifting investor sentiment. Currency movements and commodity price swings also influenced returns, reinforcing the team’s emphasis on fundamental research and company-level differentiation.

Risk management practices remained central to the strategy. Cash management, position size discipline and a conservative approach to leverage were used to limit downside exposure. The fund’s turnover reflected ongoing rebalancing rather than a change in long-term conviction, as managers gradually rotated capital toward opportunities they judged to offer a better risk/reward profile.

Looking ahead, the commentary outlined a cautious but constructive outlook. The team remains attentive to macro crosscurrents—particularly policy decisions and inflation trends—that could affect market breadth. They continue to favor high-quality companies with attractive valuations and strong balance sheets, while retaining flexibility to increase exposure as clearer entry points emerge. For investors, the fund aims to provide a thoughtful blend of capital preservation and selective growth within a global equity framework.