The article highlights that international diversification was beneficial in 2025 as non-U.S. stock markets, including Japan's, significantly outperformed the S&P 500. It specifically notes that Japanese stocks are hitting record highs and that international ETFs focused on Japan are 'crushing' the performance of the popular U.S.-focused SPY ETF. This suggests strong positive momentum and investor interest in the Japanese equity market relative to the U.S. market.