diff --git a/TODO.md b/TODO.md
index 2dde6e0..e598626 100644
--- a/TODO.md
+++ b/TODO.md
@@ -52,6 +52,30 @@ previously selected one (like `cd -` in bash or `Ctrl+^` in vim). Store
 key swaps current and last. Works on any tab — particularly useful for
 eyeball-comparing performance/risk data between two symbols.
 
+## Fix `enrich` command for international funds
+
+`deriveMetadata` in `src/commands/enrich.zig` misclassifies international ETFs:
+
+1. **`geo`** uses Alpha Vantage's `Country` field, which is the *fund issuer's*
+   domicile (USA for all US-listed ETFs), not the fund's investment geography.
+   Every US-domiciled international fund gets `geo::US`.
+
+2. **`asset_class`** short-circuits to `"ETF"` when `asset_type == "ETF"`, or
+   falls through to a US-market-cap heuristic that always produces
+   `"US Large Cap"` / `"US Mid Cap"` / `"US Small Cap"`.
+
+Known misclassified tickers (all came back as `geo::US, asset_class::US Large Cap`):
+- **FRDM** — Freedom 100 Emerging Markets ETF → should be `geo::Emerging Markets, asset_class::Emerging Markets`
+- **HFXI** — NYLI FTSE International Equity Currency Neutral ETF → should be `geo::International Developed, asset_class::International Developed`
+- **IDMO** — Invesco S&P International Developed Momentum ETF → should be `geo::International Developed, asset_class::International Developed`
+- **IVLU** — iShares MSCI International Developed Value Factor ETF → should be `geo::International Developed, asset_class::International Developed`
+
+The Alpha Vantage OVERVIEW endpoint doesn't provide fund geography data.
+Options: use the ETF_PROFILE holdings/country data to infer geography, parse
+the fund name for keywords ("International", "Emerging", "ex-US"), or accept
+that `enrich` is a scaffold and emit a `# TODO` comment for ETFs instead of
+silently misclassifying.
+
 ## Market-aware cache TTL for daily candles
 
 Daily candle TTL is currently 23h45m, but candle data only becomes meaningful