US ETFs still matter—but stock selection will drive returns in 2026, says Amit Jain

Global markets face 2026 with high valuations and geopolitical risks. Investors are advised to shift focus from broad US ETFs to selective stock and sector investments. Geopolitical events may cause short-term volatility, impacting energy and defense stocks. Disciplined stock selection and valuation sensitivity will be key to navigating the US market cycle.