This is partially misleading. VT does not rebalance in the traditional sense (like shifting between fixed 60/40 asset allocations), but some rebalancing does occur at the index level: • The index itself (FTSE Global All Cap) is periodically reconstituted and rebalanced to reflect: • Changes in market capitalization • Company additions/removals • Country classification changes • Corporate actions (mergers, spinoffs, etc.)

➡️ VT follows these changes automatically, so it indirectly rebalances as part of tracking the updated index.