As a whole, the European equity markets have outperformed most of their developed country peers around the world; within the region, the top performing country ETFs have been often-overlooked countries such as Denmark.
iShares Denmark
The Ishares MSCI Denmark Capped ETF, which trades on the BATS exchange EDEN is up 12 percent during the first quarter as it trades within striking distance of its all-time high.
The ETF is made up of 40 stocks, with a heavy concentration in the healthcare sector due to a 25 percent allocation to Novo Nordisk A/S (ADR) NVO. The stock had a blockbuster quarter, gaining 27 percent, as it climbed to a new all-time high. The industrials and financials also make up a large portion of the ETF. The 30-day SEC yield is 1.56 percent and the annual expense ratio is 0.53 percent.
Global X Portugal
Also logging a 12 percent gain in the quarter is the Global X FTSE Portugal 20 ETF PGAL. The chart for PGAL is quite different, with the ETF rallying off its all-time low from early January.
The efforts by the European Central Bank (ECB) have spread the wealth to all countries in the region, and Portugal is starting to bounce off the proverbial mat. The ETF is composed of 23 positions, with a heavy concentration on the utilities and financial stocks. EDP-Energias de Portugal, S.A (ADR) EDPFY and Galp Energia SGPS SA GLPEF account for 35 percent of the portfolio, causing the ETF to rely on the success/failure of the two stocks. The 30-day SEC yield is 2.59 percent and the expense ratio is 0.61 percent.
iShares Germany
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