The First Eagle Global Equity ETF (FEGE) is designed for investors seeking a 'margin of safety' in a market heavily influenced by technology stocks. With a diversified portfolio comprising 94 stocks, FEGE aims to provide global value exposure while maintaining low sector risk. Since its inception, the ETF has outperformed the MSCI ACWI benchmark, boasting an annualized return that is 5.9% higher. However, it has faced challenges in the recent three-month period, lagging behind its benchmark. For investors focused on global value, FEGE remains an appealing option, although the First Eagle Global Diversified (FGD) fund has demonstrated stronger returns and lower volatility, along with superior geographic diversification. This analysis updates a previous review from January, reflecting current holdings and performance metrics. Furthermore, members of Quantitative Risk & Value have exclusive access to the real-world portfolio associated with this analysis, underscoring the fund's strategic investment approach.