buying foreign small caps; decreasing exposure to Yen and China

I'm generally of the opinion that it makes sense to avoid mutual funds and exchange traded funds with their embedded management fees that act as a drag on a portfolio's returns. I feel this way due to the advent of platforms such as folioinvesting.com where individual investors can construct a portfolio containing a large number of stocks without incurring commissions for each trade. However, with foreign stocks, pretty much the only ones that trade on U.S. exchanges are large-cap companies, many of which happen to be energy companies and banks. Since I wish to obtain exposure to other sectors, I've purchased the following exchange traded funds geared to foreign small caps (within the model portfolio - 1% allocation to each): BRF, SCIF, and DGS.

To make room, I've sold the three Japanese stocks - WACLY, NTT, and DCM - which is in keeping with concerns about the future direction of the Yen. Basically, I'm trading out of a country with poor demographics and high debt and into countries with with favorable demographics and low debt, which I believe will provide for some long-term currency appreciation to go along with the investment returns from economic growth.

Separately, I sold the two Chinese stocks - HNP and SNDA. I don't have a rigorous reason; I'm just worried about the Chinese economy being unbalanced and the potential turbulence in Chinese stocks that would likely result from a recession over there. As replacements, I bought VE and TM (1% allocation to each).

Wait, didn't I just say I was worried about the Yen? Yes, but actually TM should benefit from a declining Yen as 70% of its revenues are derived from outside Japan and 58% of its expenses are incurred inside Japan. Furthermore, the stock is cheap based on price/book, price/cash flow, and price/sales, all of which is in keeping with my re-born value investing fetish.