Range from X to Y and Z

[piggy386]

Hi

Can anyone please tell me which is the correct idiom "Range from X to Y and Z" or "Range from X and Y to Z"?

Despite its attractiveness, investing abroad can still pose big risks, ranging from the potential for political instability in some countries to the shortage of regulations to protect investors and a serious lack of information about investments in others.

Despite its attractiveness, investing abroad can still pose big risks, ranging from the potential for political instability in some countries and the shortage of regulations to protect investors to a serious lack of information about investments in others.

Thanks.

[Tdol]

The second reads better to me.