hold

The Denver Broncos ground out a narrow 10-7 win over the Las Vegas Raiders to maintain the best record in the NFL.

In a tight game, just three points scored in the whole second half but they were vital as Wil Lutz scored a 32-yard field goal to send the Broncos to an 8-2 record.

They had more penalties than first downs in a stop-start game at Mile High Stadium but are top of the AFC West after a seventh straight win.

Coach Sean Payton said his team can refine their style as they look to keep on winning games.

“We’ve got to clean up some of the penalties. We’ve got to clean up the execution and that is an ongoing thing that probably never ends,” he said.

Marcus Smart couldn’t believe the stat line. Five steals and two blocks for who?

“Lukaaaaa,” Smart said, elongating Luka Doncic’s name while smiling toward his star teammate who was sitting with his feet in an ice bucket with ice bags wrapped around his knees.

Doncic matched his career high for steals in a regular-season game Wednesday. The guard averaging 40 points per game claimed his defense was the only thing he did well on a night when he finished one rebound short of a triple-double. While collecting 35 points, 12 assists and nine rebounds, he was an inefficient nine-for-27 from the field and four-for-11 from three. He missed four free throws, turned the ball over four times and, after picking up his fifth foul with 7:58 remaining in the fourth, nearly fouled out.

The last fact took Rui Hachimura by surprise.

“I’ve never seen him like that,” Hachimura said. “But you know, he’s trying to be more aggressive [on defense] and that’s what we need from him, too.”

Redick said Doncic had a few games when he started slow defensively in terms of physicality and engagement, but has been overall “really good” this season. Even when he was switched on to Spurs star Victor Wembanyama or point guard Stephon Castle, Doncic still competed well.

“There wasn’t matador defense,” Redick said. “He still guarded. And that was huge. The reason we won the game is because we guarded in the fourth quarter. Our fourth-quarter defense was the No. 1 reason we won the game.”

The Lakers limited the Spurs to 36.8% shooting from the field during the fourth quarter while forcing six turnovers. Wembanyama was held to 19 points on labored five-for-14 shooting with eight rebounds. He was nine-for-11 on free throws and fouled out with 1:40 remaining when he bowled over Hachimura.

From Broderick Turner: The buzz inside Crypto.com Arena for the Lakers and San Antonio Spurs game was created because generational talents Luka Doncic and Victor Wembanyana were performing. It was a show that even several members of the World Series champion Dodgers were on hand to watch.

But what they saw was a lot of fouls being called that made the game unsightly. Doncic picked up his fifth in the fourth quarter, and Wembanyama eventually fouled out.

In the end, Doncic produced 35 points, 13 assists and nine rebounds in leading the Lakers to their fifth straight win with a 118-116 victory over the Spurs on Wednesday night.

The Lakers won despite a horrible turnover late in the game, giving the Spurs a chance to tie the score.

Continue reading here

Lakers box score

NBA standings

DODGERS

From Jack Harris: The Dodgers wasted no time this week setting their sights on a potential World Series three-peat for next season.

Now, they embark on the winter-long process of building a roster capable of doing it.

For the most part, the core of the 2026 Dodgers shouldn’t change much. Shohei Ohtani, Mookie Betts, Freddie Freeman and Will Smith will still lead the offense. Yoshinobu Yamamoto, Blake Snell and Tyler Glasnow will anchor the rotation.

However, with plenty of money coming off the books, several notable contributors to this year’s team now free agents, and plenty of opportunities lying ahead of them this offseason, the Dodgers have work to do and decisions to make as they attempt to defend their title again next year.

Continue reading here

The Dodgers-Blue Jays World Series had record-setting ratings. Here’s what it means

DODGERS POLL

We asked, “Who was the Dodgers’ hitting star in the World Series?”

After 1,691 votes, the results:

Will Smith, 55.8%
Shohei Ohtani, 27.4%
Miguel Rojas, 13.1%
Someone else, 3%
Max Muncy, 0.7%

RAMS

From Gary Klein: The Rams are no longer kicking the can down the road when it comes to their kicking problems.

On Wednesday, the Rams signed kicker Harrison Mevis to the practice squad to compete with second-year pro Joshua Karty. The move came a day after the team signed veteran long-snapper Jake McQuaide to compete with Alex Ward.

“It’s all geared toward trying to be able to just get some solutions and some kick consistency really with our field-goal operation,” coach Sean McVay said Wednesday. “I think it’s important to have good competition at some spots that we feel we can have improved play.”

Continue reading here

From Andrés Soto: Kaylon Miller was on the six-yard line in the fourth quarter, blocking on a USC run play when he saw King Miller, his running back and twin brother, blow right past him.

“Run, run, go, go!” he remembers shouting as King bumped it outside and crossed the Nebraska goal line for the go-ahead touchdown that ultimately would be the game winner in the Trojans’ 21-17 Big Ten win last Saturday in Lincoln.

When King turned around in the end zone, it was his brother who was the first to greet him; the two brothers shared a moment as their facemasks clashed into each other. Both walk ons. Both finding opportunities to get on the field as redshirt freshmen — and both making the most of those opportunities.

Continue reading here

Keith Browner, former USC linebacker and member of a large NFL family, dies at 63

THIS DAY IN SPORTS HISTORY

1869 — First U.S. college football game played, Rutgers 6, Princeton 4.

1934 — Joe Carter scores four touchdowns and Swede Hanson rushes for 190 yards as the Philadelphia Eagles crush the Cincinnati Reds 64-0.

1966 — Philadelphia’s Timmy Brown returns kickoffs 93 yards and 90 yards for touchdowns to lead the Eagles to a 24-23 victory over the Dallas Cowboys.

1981 — Larry Holmes knocks out Renaldo Snipes in the 11th round to retain the world heavyweight title in Pittsburgh.

1983 — James Wilder of the Tampa Bay Buccaneers rushes for 219 yards and a touchdown in a 17-12 victory over the Minnesota Vikings.

1988 — Britain’s Steve Jones win the New York City Marathon in 2:08:20, the fastest time in the world this year. His margin of victory, 3 minutes and 21 seconds over Salvatore Bettiol, is the largest in the history of the five-borough race. Grete Waitz wins an unprecedented ninth women’s title, finishing in 2:28:07 well ahead of Italy’s Laura Fogli (2:31:26).

1992 — Manon Rheaume of the Atlanta Knights becomes the first woman to suit up for a regular-season pro hockey game. The 20-year-old goalie doesn’t play in Atlanta’s 3-2 overtime loss to Cincinnati in the IHL game.

1993 — French-based Arcangues stages the biggest Breeders’ Cup upset, rallying to beat Bertrando by 2 lengths in the $3 million Classic at Santa Anita. Arcangues went off at 133-1 and returned $269.20 on a $2 bet.

1993 — Evander Holyfield regains the WBA and IBF heavyweight championships from Riddick Bowe in a fight disrupted by a parachutist. During the seventh round at Caesars Palace in Las Vegas, the chutist tumbles into the ringside seats and stops the fight for 21 minutes. Holyfield becomes the fourth man to become a heavyweight champion at least twice.

1995 — Art Modell officially announces Cleveland Browns are moving to Baltimore.

1999 — Charles Roberts rushes for 409 yards and five touchdowns to lead Sacramento State past Idaho State 41-20, setting a new NCAA record for a single-game rushing performance.

2005 — Annika Sorenstam becomes the first player in LPGA Tour history to win a tournament five straight times, shooting an 8-under 64 for a three-stroke victory in the Mizuno Classic.

2010 — Michigan wins the highest scoring game in its 131-year history by stopping a 2-point conversion attempt in the third overtime for a 67-65 victory over Illinois.

2010 — Zenyatta comes within a head of finishing a perfect career. Horse racing’s biggest star closes from dead last, but Blame holds off the 6-year-old mare and wins the $5 million Breeders’ Cup Classic under the lights Churchill Downs. Zenyatta entered the race hoping to improve to 20-0 on her career.

Compiled by the Associated Press

Until next time…

That concludes today’s newsletter. If you have any feedback, ideas for improvement or things you’d like to see, email me at [email protected]. To get this newsletter in your inbox, click here.

SAN FRANCISCO — Jimmy Butler had 21 points, five rebounds and five assists, Stephen Curry added 19 points and eight assists, and the Golden State Warriors beat the Clippers 98-79 on Tuesday night.

Curry shot 7 for 15 a night after four Warriors players scored 20 or more points to beat Memphis — but it marked just the sixth time in Curry’s 17 seasons he wasn’t one of them.

Butler and Moses Moody each hit three-pointers late in the third quarter as the Warriors used a 10-2 burst over the final 2:07 to go ahead 78-63 starting the fourth.

Brandin Podziemski followed up a 23-point performance against the Grizzlies with 12 points, while Quinten Post had 12 points on four three-pointers and eight rebounds.

James Harden scored all 20 of his points by halftime while Kawhi Leonard added 18 points and five rebounds in a game featuring a 13-point second quarter by Golden State followed by the Clippers’ 14-point third.

Harden’s three with 41 seconds left in the first half gave the Clippers their first lead heading into halftime ahead 49-46 after ending the second quarter on a 24-6 run.

Ivica Zubac contributed 14 points and a season-best 13 rebounds for the cold-shooting Clippers, who went 6 for 33 from long range and 30 of 82 overall (36.6%).

The CLippers had won the last seven in the series and three in a row at Chase Center, where the Warriors improved to 3-0 so far.

Al Horford was back for the Warriors against the tall, physical Clippers team featuring the 7-foot Zubac after sitting out the front end of the back-to-back to manage a left toe injury.

The Clippers began six for 20 and one for eight on threes to fall behind 27-14 on a night they missed Bradley Beal for a second consecutive game because of back soreness.

When a Danish-flagged tanker named Torm Agnes quietly pulled into Mexico’s Port of Ensenada this spring, few took notice. The harbor, better known for cruise liners and pleasure yachts, seemed an unlikely setting for a large-scale energy delivery. But what followed was no ordinary unloading. Within hours, convoys of fuel-hauling trucks began siphoning off diesel from the tanker under the cover of night, an industrial cover that occurred so fast that witnesses said it operated “like clockwork.”

By morning, much of the shipment, worth roughly $12 million, had vanished into the Mexican black market. On paper, the cargo was listed as lubricants, exempt from Mexico’s high import taxes. In reality, it was a vast quantity of U.S.-sourced diesel smuggled by intermediaries working with one of Mexico’s most violent cartels; the Jalisco New Generation Cartel, or CJNG.

This was not a one-off operation. It was part of a sprawling, billion-dollar criminal enterprise linking Mexican cartels, U.S. traders, corrupt officials, and global shipping firms into what security analysts are now calling a “dark fleet.” And it underscores a deeper truth: the cartelization of Mexico’s energy market is no longer a localized issue, it’s a geopolitical problem touching the heart of North American trade, governance, and security.

A New Market Touched by Cartels:

For decades, Mexico’s cartels made their fortune in narcotics. Today, they are energy traders, exploiting systemic weaknesses in Mexico’s tax system and infrastructure to build empires rivaling legitimate fuel companies. According to Mexican officials, bootleg imports may now account for up to one-third of the country’s diesel and gasoline market, worth more than $20 billion a year.

The genius of the scheme lies in its simplicity. Mexico’s IEPS tax, a levy on imported fuels often exceeding 50% of a shipment’s value, creates a powerful incentive to cheat. Smugglers evade this tax by falsifying cargo documents, claiming their shipments contain lubricants or petrochemical additives, both of which are tax-exempt. The fake paperwork passes through customs with the help of bribes, while the actual diesel or gasoline floods Mexican markets at a discount.

Companies like Houston-based Ikon Midstream, which bought and shipped the Torm Agnes cargo, occupy the gray zone between legality and complicity. The firm purchased diesel in Canada, disguised it as lubricants in customs documents, and sent it to a Monterrey-based recipient called Intanza, a company authorities now suspect is a CJNG front.

It is the blending of formal and criminal economies that makes this phenomenon so dangerous. What once required violent pipeline theft now operates as a hybrid supply chain, complete with invoices, shipping manifests, and trade intermediaries. The same global infrastructure that powers legitimate energy commerce has been repurposed for organized crime.

The American connection:

The Ensenada case illustrates how deeply intertwined U.S. and Mexican energy systems have become. Nearly all the smuggled fuel originates in the United States or Canada. It passes through American ports, refineries, and shipping brokers, some unwitting, others complicit.

Texas, long a hub for legitimate fuel exports, has also become fertile ground for illicit operations. “The cartels have infiltrated many legitimate businesses along the border and further north,” warned Texas State Senator Juan Hinojosa, who has pushed for stricter licensing of fuel depots and transporters.

The U.S. Treasury Department and the Office of Foreign Assets Control  have since begun sanctioning dozens of Mexican nationals and companies tied to CJNG’s fuel operations. Yet the challenge lies in the complex nature of the trade; each shipment can involve multiple shell companies, international middlemen, and falsified documents. Even major firms like Torm, one of the world’s largest tanker operators, have been drawn into controversy. The company says it cut ties with Ikon Midstream after the Ensenada operation became public, citing contractual deception.

Meanwhile, the U.S. Department of Justice has already prosecuted American citizens for aiding cartel-linked fuel schemes. In May, a Utah father and son were charged with laundering money and supplying material support to CJNG by helping smuggle Mexican crude oil. Such cases highlight that America’s own regulatory and commercial systems are being leveraged to sustain the very criminal organizations Washington seeks to dismantle.

Mexico’s Shaky Governance:

For Mexico, the rise of cartel fuel empires is not just an economic issue, it’s an existential one. The Mexican Navy, once regarded as among the country’s least corrupt institutions, is now under internal investigation for its role in facilitating smuggling at ports. Senior naval and customs officials have been arrested in connection with illegal tanker operations, while President Claudia Sheinbaum’s administration has made combating fuel theft a cornerstone of its early tenure.

But even high-profile seizures barely scratch the surface. Since Sheinbaum took office in late 2024, authorities have confiscated an estimated 500,000 barrels of illegal fuel, less than a fraction of the $20 billion trade. Prosecutors investigating the racket face mortal danger. In August, Tamaulipas’ federal prosecutor was assassinated after leading raids that uncovered more than 1.8 million liters of illicit fuel.

This combination of organized crime, corruption, and governance failure is a hallmark of what political scientists call “criminal capture”, the point at which state institutions become functionally co-opted by illicit economies. With cartels operating as false energy corporations, Mexico’s sovereignty over its own fuel sector is seemingly a facade.

The Global Shadow Market:

The implications stretch beyond Mexico. The term “dark fleet” was first used to describe tankers smuggling sanctioned Russian and Iranian oil. Now, it applies equally to the vessels carrying contraband fuel across the Gulf of Mexico and Pacific coastlines.

These ships exploit the same legal and logistical loopholes that sustain global energy markets; open registries, layered ownership, and limited oversight in maritime trade. Once a vessel’s cargo is reclassified or offloaded at an unsanctioned port, tracing its origins becomes almost impossible.

For Western energy giants, this black-market competition is tangible. Shell’s decision to sell its retail operations in Mexico earlier this year was due in part to its inability to compete with cheaper cartel-supplied fuel. Bootleg diesel sells at a 5–10% discount below legitimate imports, enough to distort prices across an entire sector.

Meanwhile, the illusion of “cheap” fuel comes at extraordinary cost. Mexico’s treasury loses billions in tax revenue annually, honest importers are squeezed out, and legitimate workers are drawn into dangerous informal economies. The trade also erodes trust in North America’s supply chains, just as Washington and Mexico City struggle to deepen cross-border economic integration under the USMCA framework.

Cartel Infiltration into Trade Routes:

The evolution of cartels from narcotics traffickers to fuel traders reflects a broader transformation in organized crime. Cartels have always been adaptive enterprises, but their pivot into energy reveals strategy: fuel is legal, high-margin, and logistically complex, making it perfect for laundering money under the guise of legitimate trade.

In this new landscape, the line between criminal and commercial actor has blurred beyond recognition. A U.S. trader signing a fuel invoice in Houston may be unknowingly financing a cartel warehouse in Jalisco. A Danish shipping company fulfilling a contract may inadvertently be enabling tax evasion worth millions. And a Mexican port official turning a blind eye may be advancing the interests of a criminal enterprise larger than the state itself.

The Torm Agnes episode is not merely a tale of smuggling; it is an example showcasing globalization’s vulnerabilities. As supply chains grow more complex and opaque, the ability of states to control what passes through their borders diminishes.

What’s Next?

Mexico’s “dark fleet” is more than a law enforcement issue, it’s a test of North America’s supply chain security. If cartels can operate international fuel logistics networks using legitimate Western infrastructure, the implications reach far beyond Ensenada. It raises fundamental questions about regulation, accountability, and the complicity embedded in global commerce.

President Sheinbaum’s crackdown, combined with U.S. sanctions, suggests the beginnings of a coordinated response. But the scale of the challenge is daunting. As one former OFAC official put it, “The cartels are not just criminals anymore, they’re businessmen with global reach.”

Whether Washington and Mexico City can curb this hybrid economy will define not just the future of bilateral relations, but the credibility and stability of the global energy system itself.

ROMEO Beckham has confirmed that he is back with his ex Kim Turnbull after rekindling their romance.

The pair were seen in Paris this weekend, holding hands and looking loved up, just six months after the strain of the Beckham family feud led to them splitting up.

The pair’s romance was previously said to have “fizzled out” shortly after Romeo’s dad David’s star-studded 50th birthday party.

The split also came amid the subsequent feud between Romeo’s brother Brooklyn Beckham and the rest of the Beckham clan.

Last week, Romeo, 23, soft-launched that he and Kim, 24, were back on, and now things are official since they were spotted in public holding hands.

On a date night in Paris with Kim, Romeo could be seen wearing black cargo trousers with a black top and a leather jacket.

SOFT LAUNCH

Why Romeo’s reunion with girlfriend shows there’s ‘no going back’ for Beckhams

BECKS APPEAL

Romeo Beckham is back with ex Kim – six months after split

He completed the look with some beige boots and a couple of chains around his neck.

Meanwhile, Kim twinned with her boyfriend and also opted for an all-black look.

Kim could be seen donning black pinstripe trousers with a waistcoat worn alone and buttoned down the front.

She held onto a black jacket and carried a bag on her shoulder.

Kim wore her hair up in a sleek ponytail, and finished off her look with a pair of white shoes.

In other pics from their outing, Romeo donned the same outfit while Kim rocked a different look.

For their daytime outing, Kim wore some baggy blue ripped jeans and a button-down black leather jacket.

Last week, Romeo hinted that he and Kim were back together when he shared a very telling image on social media.

It came when he posted a snap with Kim on his Instagram Stories.

The picture saw Kim dressed in an oversized jacket with the hood up, and Romeo in a beanie hat as he stood behind her.

The pair were facing the camera as he took the selfie.

It was revealed back in June that the pair had decided to call time on their romance.

The announced of their split came around the same time that the Beckham family feud kicked off.

A source told The Mail at the time: “Romeo and Kim are both young and they had a lovely time together but at that age things don’t always last forever and they decided to split up.

“They have been friendly since and have even been at the same venues.

“It’s a huge shame, particularly as David and Victoria really adored her and thought she made Romeo happy but it wasn’t to be.

FREEBIE FINDER

Last minute October half-term ideas – everything you can do for FREE

SPICING UP

How ‘diva’ Geri’s ‘embarrassing’ saga with Christian reignited Spice Girls rift

“It happened a couple of weeks ago and relations have remained friendly between them.”

Kim and Romeo first went public with their romance after his split from Mia Reagan, his ex of five years.

China and the United States are set to resume high-level trade talks in Malaysia from Friday as both sides work to contain a sudden surge in tensions ahead of a crucial leaders’ summit in South Korea. Chinese Vice Premier He Lifeng will meet U.S. Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer during his visit to attend an ASEAN summit from October 24 to 27.

The renewed strain in ties comes after Beijing expanded curbs on rare earth exports critical materials used in electronics and defense in retaliation for Washington’s decision to blacklist more Chinese companies from purchasing U.S. technology. The move has reignited fears of another trade war just as the two powers had shown tentative signs of improvement in recent months.

Why It Matters

These talks carry significant global implications. The world’s two largest economies are deeply interlinked, and renewed hostilities threaten to disrupt global supply chains, technological cooperation, and regional stability. Both Washington and Beijing are under pressure to prevent economic confrontation from spilling into diplomatic isolation ahead of the scheduled Trump-Xi summit.

The flare-up also underscores the fragility of U.S.-China relations. Despite earlier progress including a successful TikTok-related deal at a Madrid summit and a constructive Trump-Xi call in September the latest export and sanctions measures have quickly derailed the momentum toward reconciliation.

The main negotiators, He Lifeng, Scott Bessent, and Jamieson Greer, are expected to focus on two issues: China’s rare earth export restrictions and U.S. curbs on technology access. These topics strike at the heart of both countries’ strategic priorities industrial self-sufficiency for China and tech security for the U.S.

Southeast Asian nations, particularly Malaysia as the host, are watching closely. They stand to benefit economically if tensions ease but risk becoming collateral in any escalation, as both superpowers compete for influence in the region. Meanwhile, global markets are bracing for volatility, with tech and manufacturing sectors especially vulnerable to disruptions.

What’s Next

The Malaysia talks are being seen as a last attempt to restore calm before the Trump-Xi summit next week in South Korea. Both sides are expected to seek at least a symbolic agreement to keep communication channels open, though a comprehensive deal is unlikely given the current mistrust.

If the talks fail, trade and diplomatic friction could deepen, potentially leading to expanded sanctions or retaliatory measures that reverberate across Asia. For now, the focus is on whether Washington and Beijing can manage their rivalry without derailing global economic stability.

With information from Reuters.

US Vice President JD Vance says, one week into the Gaza ceasefire, he has “great optimism” the peace deal will hold. He declined to set a deadline for Hamas to disarm. Vance was speaking at a newly established centre in Israel for civilian and military cooperation.

WASHINGTON — Plans are on hold for President Trump to sit down with Russian leader Vladimir Putin to talk about resolving the war in Ukraine, according to a U.S. official.

The meeting had been announced last week. It was supposed to take place in Budapest, although a date had not been set.

The decision was made following a call between U.S. Secretary of State Marco Rubio and Russian Foreign Minister Sergey Lavrov.

The official requested anonymity because they weren’t authorized to speak publicly.

The back-and-forth over Trump’s plans are the latest bout of whiplash caused by his stutter-step efforts to resolve a conflict that has persisted for nearly four years.

Lee writes for the Associated Press. This is a developing story that will update.

Pakistan and Afghanistan have agreed to an “immediate ceasefire” after a week of deadly clashes along their border, as the ties between the two South Asian neighbours plunged to their lowest point since the Taliban returned to power in 2021.

Both countries agreed to stop fighting and work towards “lasting peace and stability” after peace talks in Doha, the Qatari Ministry of Foreign Affairs said on Sunday, about the deal it mediated alongside Turkiye.

Dozens of people have been killed and hundreds wounded in the worst bout of violence in recent years. The violence erupted on October 11 at multiple fronts along their 2,600km (1,600-mile) border, after Islamabad allegedly carried out strikes in Kabul and the southeastern province of Paktika against what it said were armed groups linked to attacks inside Pakistan.

So, what do we know about the truce agreement and what might come next?

What do we know about the ceasefire?

After a round of negotiations between Pakistan and Afghanistan in the Qatari capital, Doha, “the two sides agreed to an immediate ceasefire and the establishment of mechanisms to consolidate lasting peace and stability between the two countries,” Qatar’s Foreign Ministry announced in a statement.

“The two parties also agreed to hold follow-up meetings in the coming days to ensure the sustainability of the ceasefire and verify its implementation in a reliable and sustainable manner, thus contributing to achieving security and stability in both countries,” the statement added.

Following the Qatari ministry’s statement, Pakistan’s Defence Minister Khawaja Asif posted confirmation of the deal on X.

“Cross-border terrorism from Afghan territory will cease immediately,” Asif wrote. “Both countries will respect each other’s sovereignty and territorial integrity.”

Asif further confirmed a “follow-up meeting between the delegations is scheduled to take place in the Turkish city of Istanbul on October 25 to discuss the matters in detail.”

Pakistan’s Deputy Prime Minister and Foreign Minister Ishaq Dar said the truce was “the first step in the right direction”.

“We look forward to the establishment of a concrete and verifiable monitoring mechanism, in the next meeting to be hosted by Turkiye, to address the menace of terrorism emanating from Afghan soil towards Pakistan. It is important to put all efforts in place to prevent any further loss of lives,” he posted on X.

Zabihullah Mujahid, the Taliban spokesperson, said that under the terms of the agreement, “both sides reaffirm their commitment to peace, mutual respect, and the maintenance of strong and constructive neighbourly relations.

“Both sides are committed to resolving issues and disputes through dialogue,” Mujahid said in a post on X. “It has been decided that neither country will undertake any hostile actions against the other, nor will they support groups carrying out attacks against the Government of Pakistan.”

Mujahid said the countries have agreed on refraining “from targeting each other’s security forces, civilians, or critical infrastructure”.

Mujahid, as well as Dar and Asif, thanked Qatar and Turkiye for their role in facilitating the talks that led to the ceasefire.

Why Pakistan has blamed the Taliban for attacks inside its territory?

Pakistan wants the Taliban to rein in armed groups such as the Taliban Pakistan, known by the acronym TTP, and others blamed for carrying out attacks on its territory. Armed attacks by TTP rebels and the Balochistan Liberation Army (BLA), which operates in the resource-rich Balochistan province, have surged in recent years, with 2025 on track to become the deadliest year.

Khyber Pakhtunkhwa and Balochistan, which border Afghanistan, have borne the brunt of the violence.

At least 2,414 deaths have been recorded in the first three quarters of this year, according to the Center for Research and Security Studies (CRSS), an Islamabad-based think tank.

Pakistan and the Taliban, once allies over shared regional security interests, have fallen out as Islamabad claims that Afghanistan is giving haven to the TTP – an allegation Kabul has rejected.

Kabul and Islamabad have also clashed over their international border, called the Durand Line, which is recognised by Pakistan but not by Afghanistan.

TTP’s ideology is aligned with the Taliban in Afghanistan. However, the groups have different goals and operate independently.

Pakistan has sought assurances from the Taliban that these groups, which operate in the porous border regions with Afghanistan, will not be allowed to operate freely and that the attacks across the border will cease.

In a post later on Sunday, Mujahid, the Taliban spokesman, stressed that the Afghan soil “will not be allowed to be used against any other country”. It is “the consistent stance of the Islamic Emirate” he said, referring to the official name of the Afghanistan government.

“It does not support any attack against anyone and has always emphasised this stance,” he posted on X.

Islamabad also wants the Taliban to prevent the regrouping or expansion of anti-Pakistan networks within Afghanistan, which the government considers a threat to Pakistan’s stability and broader regional strategy.

Abdullah Baheer, a political analyst based in Kabul, said the bombing of Afghanistan and killing of civilians is “a problematic model”.

“Show me one piece of evidence that shows they hit any TTP operative in Afghanistan in the past week of bombing, despite the 50-odd dead and 550 injured,” he told Al Jazeera.

He added that the TTP is a local rebel group within Pakistan that far precedes the Taliban’s coming to power in Afghanistan. “Are you expecting the Taliban to come forth and stop the TTP from pursuing any of its political or military goals?” he asked.

“Let’s take the argument that TTP are operating from safe havens within Afghanistan. The question is, you mistake influence over a group that is an independent group to an extent of controlling them,” he added.

As previously mentioned, the Taliban denies providing safe haven to TTP within Afghanistan’s borders.

Why the spike in attacks inside Pakistan?

Islamabad was the prime backer of the Taliban after it was removed by US-led NATO troops in 2001. It was also accused of providing a haven to Taliban fighters as they waged an armed rebellion against the United States’ occupation of Afghanistan for 20 years.

But relations have soured over the surge in attacks inside Pakistan.

The TTP has re-emerged as one of Pakistan’s biggest national security threats, as it has conducted more than 600 attacks against Pakistani forces in the past year, according to a report by the Armed Conflict Location & Event Data (ACLED), an independent nonprofit.

According to the CRSS, the Islamabad-based think tank, the first three-quarters of this year have seen a 46 percent surge in violence compared with last year.

The violence attributed to the TTP had decreased from its peak in the late 2000s and early 2010s after Islamabad involved the armed groups in talks and addressed some of their demands in 2021, which include the release of their members from prison and an end to military operations in the tribal areas.

The TTP also demanded the reversal of the 2018 merger of the tribal region with the Khyber Pakhtunkhwa province. A stricter imposition of their interpretation of Islamic law is also one of their demands.

A month after the Taliban took over Kabul in August 2021, it mediated talks between the Pakistani military and the TTP, a decision endorsed and pushed by Imran Khan, Pakistan’s then-prime minister. But Khan, who championed talks with the armed groups, was removed as prime minister in April 2022.

Violence surged after the TTP unilaterally walked out of the ceasefire deal in 2022, after accusing Islamabad of renewed military operations in the region.

Since its founding in 2007, the TTP has targeted civilians and law enforcement personnel, resulting in thousands of deaths. Their deadliest attack came in December 2014, when they targeted the Army Public School (APS) in Peshawar, killing more than 130 students.

The group remains banned in Pakistan and has been designated a “terrorist” group by the US.

The Pakistani army has conducted multiple operations to eliminate the group, but has struggled to achieve its goal as fighters have used the porous border to move back and forth between the neighbouring countries.

Baheer, the political analyst, said that there are “no winners in war. There are only losers”.

“This logic of bombing Afghanistan into submission didn’t work for the United States for 20 years of their occupation. Why do we think it will work now?” the Kabul-based analyst asked.

Pakistan and Afghanistan have agreed to stop fighting, after talks in the Qatari capital, Doha.

Cross-border violence in the past week or so marked the most serious escalation since 2021, when the Taliban returned to power in Afghanistan.

Islamabad accuses Kabul of harbouring fighters from Tehreek-e-Taliban Pakistan, an armed group that’s stepped up attacks in Pakistan. Afghanistan’s Taliban leaders deny the accusations.

Mediators say the foundations have been laid for long-term peace. But what are the guarantees? And how does the conflict play out regionally?

Presenter: Adrian Finighan

Guests:

Javaid Ur-Rahman – Investigative journalist and parliamentary correspondent for The Nation, a Pakistani daily newspaper

Elizabeth Threlkeld – Senior fellow and director of the South Asia Program at the Stimson Center

Obaidullah Baheer – Adjunct lecturer at the American University of Afghanistan

If you’re looking for a low-maintenance income-generating investment that you can buy and hold indefinitely, an exchange-traded fund (ETF) is an obvious choice. And you’ve certainly got plenty of options.

Not all dividend ETFs are the same, though. There are better options than others. In fact, if you’re looking for a great all-around dividend-paying exchange-traded fund to buy and hold forever, one stands out above them all.

And it’s probably not the one you think it is.

More to the matter than mere yield

If you’ve done any amount of digging into dividend ETFs as a category, then you likely already know that the Schwab U.S. Dividend Equity ETF (SCHD 0.79%) currently boasts a trailing yield of 3.9%. That’s huge for a fund of this size and ilk (quality blue chip stocks), even topping the 2.5% yield you can get from the Vanguard High Dividend Yield ETF (VYM 0.44%) at this time.

Image source: Getty Images.

There’s more to the matter than merely plugging into a fund when its yield hits a particular number, however. Is the current dividend sustainable? Does it have a history of growing its payouts enough to keep up with inflation? Is the ETF also producing enough capital appreciation? When you start asking these questions, the Schwab U.S. Dividend Equity fund doesn’t exactly shine. It has underperformed the S&P 500 (^GSPC 0.53%) as well as most of the other major dividend funds since 2023, for instance, mostly because the Dow Jones U.S. Dividend 100 index that it mirrors doesn’t hold many — if any — of the tech stocks that have been lifted by the artificial intelligence megatrend.

That’s not inherently a bad thing, mind you. There may well come a time when these technology stocks struggle more than most while demand reignites for the components of the Dow Jones U.S. Dividend 100. Nevertheless, even factoring in its above-average dividend, the Schwab U.S. Dividend Equity ETF’s lingering subpar overall performance has made it tough to own for a while now. There’s also no obvious reason to think that relative weakness will soon end.

The best all-around choice

So which fund is the ideal all-around buy-and-hold “forever” dividend ETF? For many income-minded investors, it’s going to be the iShares Core Dividend Growth ETF (DGRO 0.53%).

It’s not a particularly popular fund. It has less than $35 billion in its asset pool, for perspective, versus more than $100 billion for the massive Vanguard Dividend Appreciation ETF (VIG 0.27%). Schwab’s U.S. Dividend Equity ETF is more sizable as well, with about $70 billion under management. You can also find yields better than DGRO’s current trailing yield of just under 2.2%.

Don’t let its smallish size and average yield fool you, though. The iShares Core Dividend Growth ETF packs enough punch where it counts the most. And it’s capable of packing this punch indefinitely.

This fund tracks the Morningstar US Dividend Growth Index. Like all of Morningstar‘s dividend growth indexes, this one only includes companies that have a track record of at least five straight years of annual payout hikes. It also excludes the highest-yielding 10% of stocks based on the premise that an unusually high yield can be a warning that trouble’s brewing for a business. In this vein, the index also excludes stocks of companies that pay out more than 75% of their earnings in the form of dividends.

Where the Morningstar US Dividend Growth Index really differentiates itself, however, is in the size of each position it holds. Although no holding is allowed to make up more than 3% of its total portfolio, its positions are weighted in proportion to the value of the stocks’ dividend payments. End result? This ETF’s biggest positions right now are Johnson & Johnson, Apple, JPMorgan Chase, Microsoft, and ExxonMobil. That’s an incredibly diverse group of stocks, although the fund’s other 392 holdings aren’t any less diverse.

Sure, many of these holdings don’t exactly boast massive dividend yields. Plenty of them do have impressive yields, though, and the ones that don’t are supplying value via price appreciation. It’s the balanced weighting of these different kinds of stocks that makes this ETF such a reliable overall performer.

The irony? Despite holding many low-yielding tickers of companies that don’t exactly prioritize their dividend payments, this fund’s quarterly per-share payment has nearly tripled over the course of the past decade. You’d be hard-pressed to find better from an ETF that also produces this kind of capital appreciation.

No compromise needed

None of this is to suggest that it would be a mistake to own any other income-focused exchange-traded fund. There are perfectly valid reasons for investing in something like the Schwab U.S. Dividend Equity ETF at this time, for instance, such as an immediate need for an above-average yield. It’s also not wrong to own more than one kind of dividend ETF, diversifying your investment income streams.

If you just want a super-simple dividend income option that you can buy and hold forever, though, the iShares Core Dividend Growth ETF is a fantastic but often overlooked choice. Unlike too many other investment options, with DGRO, you don’t have to sacrifice too much growth in exchange for reliable dividend income, or vice versa. It’s a balance of (nearly) the best of both worlds.

The only thing you can’t really get from the iShares Core Dividend Growth fund is a hefty starting dividend yield, but most long-term investors will consider that a fair trade-off.

The S&P 500 index (^GSPC 0.53%) has a miserly yield of just 1.2% or so today. That’s a number that you can beat pretty easily, but you want to make sure you do it with reliable dividend stocks. There are some companies that have huge yields, but the risk involved isn’t worth it.

That’s why you’ll probably prefer to buy (and likely hold forever) companies like Realty Income (O 1.13%), Prologis (PLD 2.40%), and UDR (UDR 0.50%). Here’s a quick look at each of these high-yield dividend stocks.

1. Realty Income is boring, which is a good thing

Realty Income is the largest net lease real estate investment trust (REIT) you can buy. It owns over 15,600 properties and has a market cap that is more than three times larger than its next-closest peer. Add in a dividend yield of 5.4% and a 30-year streak of annual dividend increases and you can see why dividend investors would like this stock.

The key, however, is how boring a business it is. It starts with the net lease approach. A net lease requires the tenant to pay for most property-level expenses. That saves Realty Income cost and hassle, leaving it to, in a simplification of the situation, sit back and just collect rent. On top of that, the company’s primary focus is retail properties, which are fairly easy to buy, sell, and release if needed. But that isn’t the end of the story, either, since Realty Income is also geographically diversified, with a growing presence in Europe.

Slow and steady is the name of the game for Realty Income, which makes sense given that the REIT has trademarked the nickname “The Monthly Dividend Company.” This high yielder isn’t going to excite you, but that’s basically the point. Investing $1,000 into Realty Income will leave you owning roughly 16 shares.

2. Prologis is building from within

Prologis is another industry giant, this time focused on the industrial asset class. It is one of the largest REITs in the world, with a market cap of more than $100 billion. (It’s about twice the size of Realty Income, which has a roughly $50 billion market cap.) The dividend yield is around 3.5%, which isn’t nearly as nice as what you’d get from Realty Income, but there’s more growth opportunity. To put a number on that, Realty Income’s dividend has grown 45% or so over the past decade while Prologis’ dividend has increased by over 150%.

Like Realty Income, Prologis offers global diversification. It has operations in North America, South America, Europe, and Asia, with assets in most prominent global transportation hubs. It has increased its dividend annually for 12 years, with a high likelihood of years of dividend growth ahead. That’s because the REIT has a $41.5 billion opportunity to build new properties on land it already owns. What’s exciting now is that the dividend yield happens to be near the high end of the range over the past decade, suggesting today is a good time to jump aboard. A $1,000 investment will allow you to buy eight shares of the stock.

3. UDR is diversified and provides a basic necessity

UDR is an apartment landlord, offering the basic necessity of shelter. That’s not going to go out of style anytime soon. The company underwent a painful overhaul a few years back when it sold a portfolio of lower quality apartments, leaving it focused on its remaining and better-positioned assets. This was a good move for the REIT, but it led to a dividend reset (the painful part for shareholders). However, the dividend has been growing ever since, with an annual streak that’s now up to 16 years. There’s no reason to believe another cut is in the cards.

What dividend lovers get now, however, is fairly attractive. For starters, the portfolio is well-diversified by geographic region in the United States and by quality (A and B level assets only, the fixer-uppers it once owned are gone). Technology has been an increasingly important aspect of the business, with UDR working to use the internet to lease and serve tenants more nimbly. Essentially, UDR is a great way to get diverse exposure to apartments.

UDR’s dividend yield is 4.7% right now, which is fairly high for the REIT and well above the REIT average of around 3.8%. If you want to own a REIT that provides a basic necessity, UDR is worth looking at today. A $1,000 investment will get you roughly 27 shares.

Three high-yield, buy-and-hold options for your portfolio

If you are focused on yield, Realty Income is likely to be the most appropriate choice for your portfolio. If you like dividend growth, take a look at Prologis. And if you are fond of companies that provide basic services that everyone needs, that would be UDR. All three have lofty yields and are worth buying and holding for the long term.

WASHINGTON — President Trump is hosting Ukrainian President Volodymyr Zelensky for talks at the White House on Friday, with the U.S. leader signaling he’s not ready to agree to sell Kyiv a long-range missile system that the Ukrainians say they desperately need.

Zelensky arrived with top aides to discuss the latest developments with Trump over lunch, a day after the U.S. president and Russian President Vladimir Putin held a lengthy phone call to discuss the conflict.

At the start of the talks, Zelensky congratulated Trump over landing last week’s ceasefire and hostage deal in Gaza and said Trump now has “momentum” to stop the Russia-Ukraine conflict.

“President Trump now has a big chance to finish this war,” Zelensky added.

In recent days, Trump had shown an openness to selling Ukraine long-range Tomahawk cruise missiles, even as Putin warned that such a move would further strain the U.S.-Russian relationship.

But following Thursday’s call with Putin, Trump appeared to downplay the prospects of Ukraine getting the missiles, which have a range of about 995 miles.

“We need Tomahawks for the United States of America too,” Trump said. “We have a lot of them, but we need them. I mean we can’t deplete our country.”

Zelensky had been seeking the weapons, which would allow Ukrainian forces to strike deep into Russian territory and target key military sites, energy facilities and critical infrastructure. Zelensky has argued that the potential for such strikes would help compel Putin to take Trump’s calls for direct negotiations to end the war more seriously.

But Putin warned Trump during the call that supplying Kyiv with the Tomahawks “won’t change the situation on the battlefield, but would cause substantial damage to the relationship between our countries,” according to Yuri Ushakov, Putin’s foreign policy adviser.

Ukrainian Foreign Minister Andrii Sybiha said that talk of providing Tomahawks had already served a purpose by pushing Putin into talks. “The conclusion is that we need to continue with strong steps. Strength can truly create momentum for peace,” Sybiha said on the social platform X late Thursday.

Ukrainian officials have also indicated that Zelensky plans to appeal to Trump’s economic interests by aiming to discuss the possibility of energy deals with the U.S.

Zelensky is expected to offer to store American liquefied natural gas in Ukraine’s gas storage facilities, which would allow for an American presence in the European energy market.

He previewed the strategy on Thursday in meetings with Energy Secretary Chris Wright and the heads of American energy companies, leading him to post on X that it is important to restore Ukraine’s energy infrastructure after Russian attacks and expand “the presence of American businesses in Ukraine.”

It will be the fourth face-to-face meeting for Trump and Zelensky since the Republican returned to office in January, and their second in less than a month.

Trump announced following Thursday’s call with Putin that he would soon meet with the Russian leader in Budapest, Hungary, to discuss ways to end the war. The two also agreed that their senior aides, including Secretary of State Marco Rubio, would meet next week at an unspecified location.

Fresh off brokering a ceasefire and hostage agreement between Israel and Hamas, Trump has said finding an endgame to the war in Ukraine is now his top foreign policy priority and has expressed new confidence about the prospects of getting it done.

Ahead of his call with Putin, Trump had shown signs of increased frustration with the Russian leader.

Last month, he announced that he believed Ukraine could win back all territory lost to Russia, a dramatic shift from the U.S. leader’s repeated calls for Kyiv to make concessions to end the war.

Trump, going back to his 2024 campaign, insisted he would quickly end the war, but his peace efforts appeared to stall following a diplomatic blitz in August, when he held a summit with Putin in Alaska and a White House meeting with Zelensky and European allies.

Trump emerged from those meetings certain he was on track to arranging direct talks between Zelensky and Putin. But the Russian leader hasn’t shown any interest in meeting with Zelensky and Moscow has only intensified its bombardment of Ukraine.

Trump, for his part, offered a notably more neutral tone about Ukraine following what he described a “very productive” call with Putin.

He also hinted that negotiations between Putin and Zelensky might be have to be conducted indirectly.

“They don’t get along too well those two,” Trump said. “So we may do something where we’re separate. Separate but equal.”

Madhani writes for the Associated Press.

Oct. 15 (UPI) — The U.S. Senate is expected to vote Wednesday afternoon on a measure that would fund the government, and President Donald Trump said he plans to release a list Friday of “Democratic” programs he’s eliminated.

Today’s vote will be the 10th Senate vote to open the government, which has now been shut down for 15 days. Democrats and Republicans are still at odds on bills to reopen.

The ninth vote on Tuesday to fund the government until Nov. 21 failed 49-45 with six senators absent. To pass, it needs 60 votes.

Trump’s list of cut programs is scheduled to be released Friday.

“We are closing up Democrat programs that we disagree with, and they’re never going to open up again,” Trump said. “We’re able to do things that we’ve never been able to do before. The Democrats are getting killed.”

Though Trump has made funding available for service members to get their next paychecks, Speaker of the House Mike Johnson, R-La., said it’s a temporary measure.

“If the Democrats continue to vote to keep the government closed as they have done now so many times, then we know that U.S. troops are going to risk missing a full paycheck at the end of this month,” Johnson said at his daily press conference.

Democrats are holding out for healthcare subsidies from the Affordable Care Act, which Republicans recently cut from the appropriations bill, and approval for Medicaid funding. Millions of Americans are expected to see their health insurance premiums skyrocket when the subsidies expire at the end of the year.

The longest shutdown lasted 35 days in December 2018 and January 2019. Johnson said that “we’re barreling toward one of the longest shutdowns in American history unless Democrats drop their partisan demands.”

Identifying companies that are well positioned to serve a massive growth opportunity can help you land those elusive multibaggers. All you need is one growth stock to work out better than you could have imagined to change your life. Focusing on the companies that are helping build the future, and showing strong growth because of it, can steer you toward the right stocks.

To help you in your search, here are two growing companies playing important roles in the global adoption of artificial intelligence (AI).

Image source: Getty Images.

1. SoundHound AI

SoundHound AI (SOUN 10.20%) has seen its stock skyrocket 455% over the last three years (at the time of this writing). Businesses are turning to it for AI-powered voice assistants, a technology SoundHound has been investing in for 20 years. It has gained a strong foothold in the restaurant industry, with Red Lobster recently partnering with SoundHound on AI-powered phone ordering. But the company has set its sights on serving all enterprises, which could spell monster returns for investors.

SoundHound AI was recently named a leader in the IDC MarketScape for Worldwide General-Purpose Conversational AI Platforms 2025 Vendor Assessment. Its growing revenue indicates a business with huge momentum. Revenue more than tripled in Q2 to nearly $43 million. That brings its trailing-12-month revenue to $131 million, up 137% year over year.

While acquisitions have partly boosted its growth, SoundHound AI has a fundamentally profitable business model. Over the long term, it can monetize its technology through royalties, subscriptions, and advertising. Management expects to be profitable on an adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) basis at the end of 2025.

SoundHound is making great progress expanding beyond the restaurant market. In the second quarter, it made deals with companies across healthcare, retail, and financial services.

As it grows, SoundHound AI is building a strong competitive advantage built on data. It recently exceeded 1 billion queries per month on its platform. This data can help improve its AI capabilities and reflects its growing presence across multiple industries.

SoundHound’s stock has a relatively low market cap of nearly $8 billion at the time of writing. The addressable market it is tapping into is estimated well above $100 billion, so this is a stock that could be worth significantly more in 20 years than it is today.

Image source: Getty Images.

2. Cloudflare

More than 20% of all websites use Cloudflare (NET 4.01%). It acts as a security check between a visitor and a company’s website. The stock has soared 292% over the last three years, but as the company pivots to meeting demand for AI-driven web traffic, investors could see a lot more gains over the long term.

Cloudflare’s main competitive advantage is an extensive global network that covers over 335 cities. This allows it to deliver efficient and scalable service to internet service providers. As it adds more servers to the network, the company’s competitive moat widens from greater efficiency.

Cloudflare has consistently delivered year-over-year growth of about 25%. In Q2, its revenue grew 28% over the year-ago quarter, and this momentum should continue as AI begins to introduce a whole new avenue of growth for the company.

It just signed a $15 million deal with a rapidly growing AI company for its Workers AI product. This service allows companies to run AI models on edge computing devices on the company’s network. Cloudflare has relationships with several leading AI companies, which positions it well for growth as AI agents and models begin to generate an increasing amount of web traffic. Management is enthusiastic to leverage this competitive position to serve new opportunities, such as autonomous transactions completed online between AI agents.

Analysts expect the company’s earnings to grow at an annualized rate of 24%. With AI enhancing its growth prospects, Cloudflare should be a solid growth stock to hold for many years.

Ford (F -0.65%) impressed investors when it reported that U.S. unit sales jumped 8.2% year over year in the third quarter (ended Sept. 30). Key models are doing very well, like the F-Series pickup trucks, Mustang Mach-E, Expedition, and Bronco. The momentum is partly why shares have done well this year, rising 15% (as of Oct.10).

But can this auto stock beat the market for buy-and-hold investors? History provides a clear answer.

Image source: Getty Images.

Investors shouldn’t expect outsized long-term returns from Ford

In the past 10- and 20-year periods, Ford shares have generated total returns of 33% and 150%, respectively. These gains failed to exceed that of the S&P 500 index. And it’s not even close.

The disappointing performance likely won’t reverse course as we look to the next 10 or 20 years. Low growth, weak margins, huge capital expenditures, and cyclicality describe Ford’s business. It’s not controversial to say that this isn’t a high-quality company.

Ford shares might always trade at a cheap valuation

Ford’s valuation is dirt cheap. The market is offering the stock at a forward price-to-earnings ratio of 9, which makes the dividend yield hefty at 5.26%. This might look like a compelling opportunity.

However, there’s no reason to assume that the market will expand Ford’s valuation in the years ahead. Fast growth, wide margins, capital-light business models, and durable demand trends are traits that investors reward. Ford just doesn’t fit the bill.

Vanguard has built a business with the long-term investor in mind. Investors in its funds aren’t just clients, but part owners of the company. That’s why it has some of the lowest fees in the industry, as it passes profits on to its investors through lower fees on its funds.

You can buy and hold most Vanguard funds forever. A great pairing is the Vanguard Total Market Index (VTI -2.69%) and the Vanguard Total Bond Market ETF (BND 0.40%), as together they cover both major asset classes: stocks and bonds. With these two ETFs, you can build a simple 60/40 portfolio — $60 into VTI and $40 into BND for every $100 invested. Here’s why this is an ideal combination for long-term investors.

Image source: Getty Images.

The 60/40 portfolio

Investing in stocks is a great way to grow your wealth over the long term. However, stocks can be volatile. That’s why most financial advisors recommend that investors further diversify their portfolio by adding some bonds into the mix.

We can see how increasing a portfolio’s allocation to bonds can steadily lower the risk of having a terrible year:

Data source: Vanguard. NOTE: Return calculations from 1926 through 2024.

The sweet spot has historically been the 60/40 mix. It offers an attractive return (8.8% annually) while significantly reducing volatility and risk.

Broad exposure to the U.S. stock market

The Vanguard Total Stock Market ETF is one of the simplest ways to invest in the stock market. It tracks the CRSP US Total Market Index, which measures the performance of all stocks on the major U.S. exchanges. The fund currently holds over 3,500 stocks, providing investors with broad exposure to the entire U.S. market.

It doesn’t buy the same amount of every single stock. It holds more of the largest companies by market cap. Its top five holdings currently are:

1. Nvidia (6.5% allocation)
2. Microsoft (6.1%)
3. Apple (5.6%)
4. Amazon (3.5%)
5. Meta Platforms (2.6%)

That allocation provides greater exposure to the largest and most dominant companies in the country.

This ETF has produced solid returns throughout its history:

Data source: Vanguard.

As the chart shows, the fund’s returns have closely tracked those of the benchmark index it follows. That’s due to its ultra-low ETF expense ratio of 0.03%. At that rate, it would only cost you about $0.02 in management fees each year for every $60 you invest in the fund.

Broad exposure to the U.S. bond market

The Vanguard Total Bond Market Fund provides investors with broad exposure to the taxable investment-grade, U.S. dollar-denominated bond market. The fund holds high-quality bonds issued by the U.S. government, corporations, and foreign entities. It excludes tax-exempt bonds (e.g., municipal bonds), inflation-protected bonds (e.g., I-Bonds and TIPS), and non-investment-grade bonds (e.g., junk bonds).

This fund currently holds nearly 11,400 bonds with varying maturities (averaging over eight years) from numerous issuers, including U.S. Treasury securities, government-backed mortgages, corporations, and foreign entities.

Bonds provide investors with several benefits. They generate fixed income from bond interest payments (BND currently has a yield of more than 4%). They also help diversify a portfolio, thereby lowering its risk profile.

However, bonds do have much lower returns compared to stocks, especially in more recent decades due to lower interest rates:

Data source: Vanguard.

This ETF also does an excellent job of mirroring the returns of its benchmark, thanks to its ultra-low fees (0.03% ETF expense ratio). At that rate, you’d only pay $0.01 per year in fees for every $40 invested in the fund. The low fees enable investors to keep more of the interest income generated by the bonds held by the fund.

A great pairing

These two Vanguard ETFs complement each other well, offering a balanced approach between risk and reward. The Vanguard Total Stock Market ETF provides broad exposure to the U.S. stock market, while the Vanguard Total Bond ETF offers access to high-quality U.S. dollar bonds. This combination enables investors to participate in the growth of stocks while receiving income and stability from bonds. Investing $100 in these two Vanguard ETFs is a truly set-and-forget investment strategy.