5 India (And 1 Other) ETFs On A Roll
Shares of the following exchange traded funds are trading more than 18 percent higher than 90 days ago, and they are within 10 percent of their 52-week highs.
This set of ETFs provides a peek at areas of investor interest in the wake of market-shaping news like the harsh winter, historic elections in India, rising Middle East tensions, and the sputtering U.S. economy.
EGShares India Infrastructure (NYSE: INXX) is trading around 45 percent higher year to date, though is it down more than six percent from the recent 52-week high. Infrastructure spending in India is projected to be US$1 trillion between 2012 and 2017, and economists expect the economy there to rebound faster than other major emerging markets.
The non-diversified fund seeks results that correspond generally to the price and yield performance of the INDXX India Infrastructure Index. At least 80 percent of its net assets usually are invested in the Indian infrastructure companies that make up the underlying index. The investment's top holdings include Bombay-traded Bharat Heavy Electricals and Larsen & Toubro.
See also: Chinese Tech And MLP ETFs On A Tear
EGShares India Small Cap (NYSE: SCIN) has risen nearly 55 percent since the beginning of the year but pulled back about five percent from a multiyear high earlier this month. Investors were encouraged by the win of Narendra Modi and the Bharatiya Janata Party in the general election held in mid-May.
This non-diversified fund seeks investment results that generally correspond to the price and yield performance of the INDXX India Small Cap Index. Generally at least 80 percent of its net assets are invested in Indian small market capitalization companies included in the underlying index. Top holdings include Bombay-traded YES Bank, Federal Bank and Cummins India.
iShares MSCI India Small-Cap (NYSE: SMIN) is more than 60 percent higher than at the beginning of the year and also reached a multiyear high in early June. Some of the best performing ETFs in 2014 are those focused on companies from India, the world's 10th largest economy.
The non-diversified fund seeks to track the investment results of the MSCI India Small Cap Index, which is designed to measure the performance of equity securities of small-cap companies with a market capitalization that represents the bottom 14 percent of companies in the Indian securities market. Top holdings in this ETF include Bombay-traded Aurobindo Pharma and Bharat Forge.
Market Vectors India Small-Cap ETF (NYSE: SCIF) is up around 69 percent year to date though it has pulled back about four percent from a recent multiyear high. The new government has gone on the attack on food costs, and the rate of inflation has slowed, but ETF investors are waiting for more.
The non-diversified investment seeks to replicate as closely as possible the price and yield performance of the Market Vectors India Small-Cap Index. The fund now intends to achieve its investment objective by investing substantially all of its assets in the Subsidiary, a wholly-owned subsidiary located in the Republic of Mauritius. Top holdings include Bombay-traded Apollo Tyres and Ramco Cements.
WisdomTree India Earnings Index (NYSE: EPI) is about 34 percent higher since the beginning of the year, but now down about four percent from the recent multiyear high. Since the beginning of the second quarter, this ETF has seen inflows of around $494 million.
The investment seeks to track the price and yield performance of the WisdomTree India Earnings Index, which is comprised of companies incorporated and traded in India that are profitable and that are eligible to be purchased by foreign investors. Top holdings include Bombay-traded Reliance Industries.
iShares MSCI Turkey Investable Market Index (NYSE: TUR) is trading more than 38 percent higher than the 52-week low reached in early February, but it has retreated about seven percent from a 52-week high earlier in June.
This non-diversified investment seeks to track the investment results of the MSCI Turkey Investable Market Index, which is a free float-adjusted market capitalization index designed to measure broad-based equity market performance in Turkey. The fund's inception date was March 26, 2008.
At the time of this writing, the author had no position in the mentioned equities.
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