CSPX (S&P 500) vs SWDA(MSCI World ETF)

If you did not want to be exposed entirely to the US market and lower your risk, you can consider SWDA. It also depends on your view whether the world would have grown faster than the US or the other way round.

This choice depends on which country you're rooting for to be even more successful in the next 10-20 years. If you think that there's going to be a few more "Apple" or "Amazon" rising up from US side and less from other dev countries (e.g. Europe), then CSPX is the better of the 2.

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My own opinion is that Europe (full of developed countries) itself did not generate many unicorns or superbig businesses over the last 10 years compared to US (FAANG). Also there's geopolitical tensions with Russia and the natural gas pipeline, which dampens the outlook of the entire continent (some companies already shutting down mfg ops because they can't affford electricity).