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If you believe the financial crisis in Europe will continue it will be in your best interest to avoid the European ETFs. The hardest hit single-country ETFs since the S&P 500 high on 4/23 are located in Western Europe.
The iShares Italy ETF
EWI and iShares Spain ETF
EWP have both lost over 20% of their value and are officially in bear market territory. They are also close to hitting fresh 52-week lows. The other laggards include the iShares Austria ETF
EWO and the iShares France ETF
EWQ, down 18.7% and 16.8%, respectively.
On the flip side, there are a few glimmers of hope in emerging markets. The iShares Malaysia ETF
EWM is only down 3.3% and the iShares Chile ETF
ECH has lost 4.6%.
Of the developed nations, the two that are outperforming the US are resource-heavy Canada, iShares Canada ETF
EWC is down 6.8% and the iShares Japan ETF
EWJ lost 6.9%. Keep in mind the SPDR S&P 500 ETF
SPY is down 7.7% during this timeframe.
In reality there has been nowhere to hide lately and besides a few emerging market countries, the US has been the best bet for investors.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Posted In: Emerging Market ETFsETFs
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