World funds track the cap-weighted stocks of every developed country around the world including the US and beyond. It’s a true one-stop-shop for investors seeking exposure to the broad global stock market in a single fund.
The one global asset class excluded from World data on the site is emerging markets. For reference, the historical average weighting of emerging markets to developed markets is on the order of ~7%. World alone will still model an all-country fund pretty well, but if you’d like to model an all-country world index instead of a developed market world index, consider adding a dash of EM to the portfolio.
The calculators include two versions of World — All and ex-US. Because the US constitutes a large percentage of world stocks by market cap, many US investors use the ex-US version for international diversification.