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It has significant international exposure (\~30%), and internationals have done a lot worse than US during the last few days for obvious reasons. On top of that it holds GOVT, which tends towards mid-duration treasuries, and those are taking a bit of a hit because yields have gone up. And tech, of all things, has actually happened to not do so badly over the last few days. This is a specific set of circumstances and it happens that it's not great set of circumstances for ITDD. It does not extrapolate to all market drawdowns.
I am in the US. My sister recently had a kid and is trying to invest for her child's future with $4k which the kiddo would have access to at 18 so she came to me for advice. My recommendation is sign up with a reputable broker like Etrade or Fidelity. Spread the 4k into 25% SPY 25% ITDD target date 2040 25% AAPL 25% VTI OR YOLO the entire 4k with Papa Elon TSLA then set the kid as the beneficiary and delete the app with a reminder to download it in 2040.