iShares MSCI Philippines ETF (ARCA: EPHE)

iShares MSCI Philippines ETF (ARCA:EPHE), Trade Ideas

iShares MSCI Philippines ETF

Financial Advisors

Long Ideas

Emerging Markets

Emerging Market ETFs

Hedge Funds

Economics

Exclusives

Markets

Personal Finance

Trading Ideas

Interview

ETFs

General

iShares MSCI Alluntry Asia ex Japan Index Fund

AAXJ

iShares MSCI Indonesia Investable Market Index Fund

EIDO

ISHARES MSCI PHILIPPINES INVESTABLE MARKET INDEX FUND

EPHE

Barclays Bank iPath S&P 500 VIX Short-Term Futures ETN

Hedge Fund Expert Explains Why Asia-Focused Firms Are Outperforming U.S. Market Benchmarks

Short Ideas

A Decent Year For The Philippines ETF

News

Politics

Events

Global

The Philippines: Land Of Extrajudicial Murders And One Big Trump Tower

Macro Economic Events

President Biden Says Any Attack On Philippines' Vessels In The South China Sea Would Invoke Our Mutual Defense Treaty

<a href="https://www.tsunami.gov/?p=PHEB/2023/12/02/23336002/1/WEPA40" title="https://www.tsunami.gov/?p=PHEB/2023/12/02/23336002/1/WEPA40">https://www.tsunami.gov/?p=PHEB/2023/12/02/23336002/1/WEPA40</a>

U.S. Tsunami Warning System Said Potential Tsunami Threat After Magnitude 7.7 Earthquake At Mindanao, Philippines

White House Says Biden Approves Proposed Partnership With Philippines On Peaceful Uses Of Nuclear Energy

ASML

AVGO

INTC

LRCX

NVDA

NXPI

QCOM

RMBS

U.S. Announces New Partnership With Philippines To Explore Semiconductor Supply Chain Opportunities

<a href="https://asia.nikkei.com/Business/Automobiles/Toyota-invests-78m-in-Philippines-plant-to-produce-2-new-models" title="https://asia.nikkei.com/Business/Automobiles/Toyota-invests-78m-in-Philippines-plant-to-produce-2-new-models">https://asia.nikkei.com/Business/Automobiles/Toyota-invests-78m-in-Philippines-plant-to-produce-2-new-models</a>

'Toyota Invests $78M In Philippines Plant To Produce 2 New Models' - Nikkei

<a href="https://asia.nikkei.com/Business/Electronics/Apple-supplier-Murata-to-boost-capacitor-output-in-Philippines" title="https://asia.nikkei.com/Business/Electronics/Apple-supplier-Murata-to-boost-capacitor-output-in-Philippines">https://asia.nikkei.com/Business/Electronics/Apple-supplier-Murata-to-boost-capacitor-output-in-Philippines</a>
KYOTO, Japan -- Electronics parts maker Murata Manufacturing is expanding a plant in the Philippines as it boosts production of multilayer ceramic capacitors, the Japanese company said on Tuesday, seeking to tap demand tied to electric vehicles and 6G communications technology in the coming years.
The company,&nbsp;which supplies parts for Apple iPhones, is investing 11.2 billion yen ($78.2 million) in a new building at the factory&nbsp;in Batangas province on the island of Luzon. The two-story building, to be completed in September 2025,&nbsp;will have a total floor area of about 78,000 square meters. Specifics on the production scale were&nbsp;not disclosed.

AAPL

"Apple Supplier Murata To Boost Capacitor Output In Philippines; Japanese Components Maker Sees Demand Rising For EVs, 6G" - Nikkei Asia

U.S. Tsunami Warning System Says There Is No Tsunami Threat to Guam, Rota, Tinian or Saipan From Earthquake Near Philippines

<a href="https://earthquake.usgs.gov/earthquakes/eventpage/pt21021050/executive" title="https://earthquake.usgs.gov/earthquakes/eventpage/pt21021050/executive">https://earthquake.usgs.gov/earthquakes/eventpage/pt21021050/executive</a>

USGS Reports M 7.0 Earthquake- 219 km SE of Pondaguitan, Philippines

M6.1 Earthquake- 42km ESE of Pondaguitan, Philippines

A few days ago, <a href="http://www.benzinga.com/topic/don-steinbrugge">Agecroft Partners</a> founder and CEO Don Steinbrugge wrote an <a href="https://www.benzinga.com/markets/emerging-markets/17/06/9636391/why-theres-a-big-opportunity-in-asia-focused-hedge-funds">article</a> titled &ldquo;Why There&#39;s A Big Opportunity In Asia-Focused Hedge Funds.&rdquo;
Asia-based, Asia-focused hedge funds offer <a href="https://www.benzinga.com/markets/emerging-markets/17/06/9636391/why-theres-a-big-opportunity-in-asia-focused-hedge-funds">great opportunities for investors nowadays</a>; Steinbrugge told Benzinga in a follow-up interview. However, he suggested that we &ldquo;dive a little bit deeper and examine some of the inefficiencies in the market&rdquo; because, at the end of the day, the skill of a money manager rests on beating an index, beating the market, not on beating other funds.
<h3>What Hedge Funds Do Best</h3>
Only a <a href="https://www.benzinga.com/personal-finance/financial-advisors/17/02/9000294/expert-why-smaller-hedge-funds-will-continue-to-ou">handful of long/short equity managers</a> in the U.S. have managed to consistently beat the S&amp;P 500 (NYSE: <a class="ticker" href="/stock/spy#NYSE">SPY</a>) in recent years. On the other hand, many Asia-based long/short equity managers focusing on regional indexes like the iShares MSCI Pacific ex-Japan Idx (ETF) (NYSE: <a class="ticker" href="/stock/epp#NYSE">EPP</a>) have managed to beat their benchmarks by very large margins. Similar has been the case with China-focused funds, which have beat their market by roughly 10 percent per annum in recent years.
But, which factors are helping these Asia-based managers deliver such strong performances?
First and foremost is the volatility of the markets in Asia, Steinbrugge explained. One of the things that has hurt U.S. managers is the extremely low volatility, reflected by the iPath S&amp;P 500 VIX Short Term Futures TM ETN (NYSE: <a class="ticker" href="/stock/vxx#NYSE">VXX</a>) and the underlying VIX Index&rsquo;s current levels, close to all-time lows. &ldquo;If you don&rsquo;t have a lot of volatility, you don&rsquo;t have a lot of relative price movements between securities,&rdquo; he said. The basic premise investors rely upon is to go long on stocks they think will do well and subsequently sell short those they anticipate to perform poorly. Following that line of thinking, in the absence of volatility, investors will be forced to wait very long times before those securities reach their sell or buy targets, he said. &ldquo;In Asia, there is significant volatility. So, if you find a security you like a lot, it potentially will reach its target price much quicker and you can have higher turnover in your portfolio.&rdquo;
The second thing that is very different about Asia when compared to the U.S. marketplace is that the former is dominated by retail investors, who are not as sophisticated as hedge funds &mdash; which dominate a very small portion of the market. &ldquo;As a result of that, doing fundamental research on these companies, hedge funds can get an information edge over retail investors,&rdquo; the expert told Benzinga, pointing out that getting such an advantage in the U.S. is extremely difficult.
Another element impacting the performance of Asia-focused hedge funds is the &ldquo;greater rotation of industry leadership,&rdquo; Steinbrugge continued. Taking China as an example: Until quite recently, its economy was dominated by &ldquo;old economy industries&rdquo; like steel; however, massive investments have helped these companies pivot to more current industries like tech and services. &ldquo;When you large rotation of the industries like that, you are going to have winners and losers. For a long/short equity manager, it makes it easier to add value because you can find very good companies to buy, and you can also find very good companies to sell short that are going to get hurt during this rotation.&rdquo;
<h3>	Where In Asia</h3>
Before moving on, it&rsquo;s important to clarify what the hedge fund industry calls Asia. Perhaps counter-intuitively, "Asia" excludes the Middle East but includes Australia, as well as Southeast Asian countries, India, China, Japan, Korea and Hong Kong.
Another way to outperform U.S. benchmarks by investing in this region is to realize what works in certain countries, Steinbrugge said. Is it a new type of grocery store? Is it a new type of restaurant? Is it some type of local product that can be replicated in a different market with a different company?
&ldquo;Looking at what has worked really well in one country and trying to identify a company in another country that is replicating the same idea is a way to outperform the market. Also looking at companies in the same industry in different markets and comparing their relative strengths.&rdquo;
<h3>The Macro Factor And Valuations</h3>
Finally, there&rsquo;s a macroeconomic factor: Asia already produces 36 percent of the world&rsquo;s GDP, and the IMF is forecasting approximately two-thirds of global growth over the next five years will come from that region. Nonetheless, only 4&ndash;5.5 percent of the $3 trillion in global hedge fund assets are allocated to these countries, Steinbrugge said.
Juxtaposing this to the fact that securities in Asia are valued at a significant discount to U.S.-traded stocks, it becomes clear that these markets offer larger opportunities to add value to funds&rsquo; portfolios.
<h3>Embracing Emerging Managers</h3>
Most of the Asia-focused hedge funds outperforming U.S. markets are based off Asian countries. &ldquo;It is always better to be closer to where the investment opportunities are,&rdquo; Steinbrugge explained. &ldquo;It used to be that people were biased against Asia based managers because they weren&rsquo;t viewed as having the same institutional quality. But today, these hedge funds have very large research teams; a lot of them are either Western-educated or the people running the firm have spun out of either large hedge funds or large investment banks and have very accomplished biographies.&rdquo;
While restraining from naming any specific Asia-focused funds, Steinbrugge emphasized the vast number of options. In fact, just between Singapore and Hong Kong, there are more than 55 organizations that manage over $1 billion in assets.
<h3>The Risks</h3>
Last but not least, Steinbrugge highlighted the risks of investing in Asia-focused hedge funds.
&ldquo;I think it&rsquo;s important that investors have a diversified portfolio, and if they are going to allocate to Asia, they should limit what percentage they invest in Asia. If they are investing in a <a href="https://www.benzinga.com/personal-finance/financial-advisors/17/01/8906368/hedge-fund-expert-don-steinbrugge-on-money-flows-a">mutual fund or a hedge fund</a>, over time it should experience higher volatility than investing in U.S. equities,&rdquo; he explained. &ldquo;But it also has the potential to generate higher returns long term than U.S. equities, so you have to take a long-term horizon when you allocate to Asia. I mean, if two-thirds of the world's growth is coming from Asia, it probably makes sense to have some part of your portfolio allocated to Asia.&rdquo;
Other Asia-focused ETFs outperforming the S&amp;P 500 this year include:
<ul>
<li>
		Vanguard FTSE Pacific ETF (NYSE: <a class="ticker" href="/stock/vpl#NYSE">VPL</a>)</li>
<li>
		iShares MSCI South Korea Index Fund(ETF) (NYSE: <a class="ticker" href="/stock/ewy#NYSE">EWY</a>)</li>
<li>
		iShares MSCI Cntry Asa Jpn Idx Fnd ETF (NASDAQ: <a class="ticker" href="/stock/aaxj#NASDAQ">AAXJ</a>)</li>
<li>
		iShares MSCI Taiwan Index (ETF) (NYSE: <a class="ticker" href="/stock/ewt#NYSE">EWT</a>)</li>
<li>
		iShares MSCI Philippines Investable (NYSE: <a class="ticker" href="/stock/ephe#NYSE">EPHE</a>)</li>
<li>
		iShares MSCI Indons Invstbl Mrkt Indx Fd (NYSE: <a class="ticker" href="/stock/eido#NYSE">EIDO</a>)</li>
<li>
		Market Vectors Vietnam ETF. (NYSE: <a class="ticker" href="/stock/vnm#NYSE">VNM</a>)</li>
</ul>
More From Benzinga:
<a href="https://www.benzinga.com/personal-finance/financial-advisors/17/03/9134918/don-steinbrugge-explains-reinsurance-a-strategy-th">Don Steinbrugge Explains Reinsurance: A Strategy That Helps Hedge Funds Remain Safe From Market Volatility</a>
<a href="https://www.benzinga.com/personal-finance/financial-advisors/17/04/9313278/how-people-choose-hedge-funds-the-importance-of-br">How People Choose Hedge Funds: The Importance Of Branding</a>
Image Credit: <a href="https://www.instagram.com/javierhasse/">Javier Hasse</a>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Hedge Fund Expert Explains Why Asia-Focused Firms Are Outperforming Market Benchmarks

M7 Earthquake Strikes SW of Tacloban, Philippines -USGS

The iShares MSCI Philippines ETF (NYSE: <a class="ticker" href="/stock/ephe#NYSE">EPHE</a>) is higher by 11 percent year-to-date. While that lags the 18 percent returned by the MSCI Emerging Markets Index, EPHE&#39;s 2017 showing is still solid when considering the controversy Philippine equities have had to contend with.
For political buffs that think President Donald Trump is controversial, his administration is docile compared to Philippine President Rodrigo Duterte. Said another way, political volatility could easily be one reason why EPHE is trailing broader emerging markets benchmarks this year.
&ldquo;Short term headlines concerning the Philippines have been marred with incursions between ISIS- affiliated terror groups and Filipino military forces, as the terror group is attempting to gain a foothold over the country, causing carnage in many villages and cities particularly in Marawi on the island of Mindanao,&rdquo; said <a href="http://streetonefinancial.com/">Street One Financial</a> Vice President Paul Weisbruch in a note Wednesday.&nbsp;
<h3>
	Not Always Volatile</h3>
The $189.2 million EPHE is nearly seven years old, giving a decent track record to analyze. In its time on the market, the Philippines ETF has been significantly less volatile than an array of single-country ETFs tracking larger emerging markets.
EPHE&#39;s three-year standard deviation of 15.1 percent <a href="https://www.ishares.com/us/products/239637/?referrer=tickerSearch">is about 100 basis points below</a> what is found on the MSCI Emerging Market Index. Year-to-date, however, EPHE has been 240 basis points more volatile than the emerging markets benchmark.
Additionally, Philippine stocks are expensive compared to other Southeast Asian markets and richly valued against the MSCI Emerging Markets Index. From 2011 through 2016, EPHE outperformed the emerging markets benchmark in four of six years.
<h3>
	Other Issues</h3>
&ldquo;A recent article from Bloomberg titled &#39;Hopes High, Returns Low In Philippine Stocks Under Duterte&#39; underscores some of what we are speaking of here and cites &#39;Philippine equities gained 0.2 percent since Duterte assumed office,&#39;&rdquo; notes Weisbruch. &ldquo;The article also points out that the Philippine peso is literally the worst performing Emerging Market Asia currency since Duterte began his reign (which began nearly one year ago on June 30, 2016, with the peso having depreciated over 6 percent versus the U.S. Dollar).&rdquo;
EPHE holds 44 stocks with about 70 percent hailing from the industrial, real estate and financial services sectors. Telecom is the fourth-largest sector weight at 7 percent.

A growth rate that <a href="https://www.bloomberg.com/news/articles/2016-11-17/philippine-growth-quickens-to-7-1-on-duterte-s-spending-spree">beats China&rsquo;s</a>. An investment-grade rating by <a href="http://www.philstar.com/business/2017/04/30/1695109/philippines-keeps-investment-grade-rating">Standard &amp; Poors</a>. Roughly $24 billion in <a href="https://ustr.gov/countries-regions/southeast-asia-pacific/philippines">trade</a> with the United States and a long history of mostly amicable relations. A Trump Tower in the capital city?
A meeting between President Donald Trump and Philippines President Rodrigo Duterte might seem like a natural thing, if the latter wasn&rsquo;t an alleged mass murderer responsible for the deaths of <a href="https://www.hrw.org/news/2017/04/11/philippines-cynical-apologists-dutertes-brutal-drug-war">7,000</a> suspected drug users and dealers, including three people he claimed to have <a href="https://www.nytimes.com/2016/12/16/world/asia/philippines-rodrigo-duterte-confirms-killings-davao.html?_r=0">killed himself</a> while mayor of Davao City.
Human rights activists and even some officials inside the Trump administration were aghast over the weekend when Trump invited the Filipino strongman to come visit him after a &ldquo;very friendly conversation&rdquo; on Saturday.
<h3>U.S.-Philippines Ties Long And Strong</h3>
The invitation comes after Trump <a href="http://www.huffingtonpost.com/entry/turkey-trumps-friend-bombs-people-fighting-isis_us_59077a52e4b05279d4edbe7f">congratulated</a> the authoritarian leader of Turkey, President Recep Tayyip Erdoğan, on winning a referendum to expand his power, and referred to North Korean dictator Kim Jong Un as &quot;a pretty smart cookie&quot; on Sunday.
Trump&rsquo;s expressed admiration for Russian leader Vladimir Putin, accused of overseeing a spate of political assassinations and suppression of the media, is well-documented.
His fascination with Duterte is just the latest twist in the long, complex relationship the United States has had with the Philippines, which has the <a href="http://www.imf.org/external/pubs/ft/weo/2017/01/weodata/weorept.aspx?pr.x=49&amp;pr.y=13&amp;sy=2017&amp;ey=2017&amp;scsm=1&amp;ssd=1&amp;sort=country&amp;ds=.&amp;br=1&amp;c=512%2C672%2C914%2C946%2C612%2C137%2C614%2C546%2C311%2C962%2C213%2C674%2C911%2C676%2C193%2C548%2C122%2C556%2C912%2C678%2C313%2C181%2C419%2C867%2C513%2C682%2C316%2C684%2C913%2C273%2C124%2C868%2C339%2C921%2C638%2C948%2C514%2C943%2C218%2C686%2C963%2C688%2C616%2C518%2C223%2C728%2C516%2C836%2C918%2C558%2C748%2C138%2C618%2C196%2C624%2C278%2C522%2C692%2C622%2C694%2C156%2C142%2C626%2C449%2C628%2C564%2C228%2C565%2C924%2C283%2C233%2C853%2C632%2C288%2C636%2C293%2C634%2C566%2C238%2C964%2C662%2C182%2C960%2C359%2C423%2C453%2C935%2C968%2C128%2C922%2C611%2C714%2C321%2C862%2C243%2C135%2C248%2C716%2C469%2C456%2C253%2C722%2C642%2C942%2C643%2C718%2C939%2C724%2C644%2C576%2C819%2C936%2C172%2C961%2C132%2C813%2C646%2C199%2C648%2C733%2C915%2C184%2C134%2C524%2C652%2C361%2C174%2C362%2C328%2C364%2C258%2C732%2C656%2C366%2C654%2C734%2C336%2C144%2C263%2C146%2C268%2C463%2C532%2C528%2C944%2C923%2C176%2C738%2C534%2C578%2C536%2C537%2C429%2C742%2C433%2C866%2C178%2C369%2C436%2C744%2C136%2C186%2C343%2C925%2C158%2C869%2C439%2C746%2C916%2C926%2C664%2C466%2C826%2C112%2C542%2C111%2C967%2C298%2C443%2C927%2C917%2C846%2C544%2C299%2C941%2C582%2C446%2C474%2C666%2C754%2C668%2C698&amp;s=NGDPD&amp;grp=0&amp;a=">35th largest economy</a> in the world and the third-largest among the emerging markets of the Association of Southeast Asian Nations.
The Philippines was named after King Philip II of Spain in the 16th Century and remained a Spanish colony until the Spanish-American War in 1896, when the islands were ceded to the United States.
Its strategic location, flanked by the Pacific Ocean and the South China Sea made it a critical U.S. military base until a 1991 referendum shut down the massive American Naval presence that was a key part of its economy.
<h3>Trump&rsquo;s Manila Connection</h3>
Trump&rsquo;s warm words for Duterte have increased scrutiny of the Trump family&rsquo;s dealings in the country. The <a href="http://www.nydailynews.com/news/politics/philippines-tower-raises-ethics-issues-trump-family-article-1.3126521">New York Daily News</a> reported Tuesday that a Duterte associate, Jose E.B. Antonio, is close to completing a $150 million downtown building &mdash; the Trump Tower Manila &mdash; that licensed the Trump name.
Duterte has named Antonio his special envoy to the United States and the tower&rsquo;s website &mdash; until Monday night &mdash; included testimonials from Trump sons Donald Jr. and Eric, as well as a link to Ivanka Trump&rsquo;s jewelry line, the paper reported.
The paper said both Trump Marks LLC and Ivanka Trump Marks LLC have pending patent applications, according to documents filed with the Philippines government.
Ivanka Trump&rsquo;s pending patents are for her clothing line and were applied for in February and March.
The patent for Trump&rsquo;s name was applied for by Century Properties, his business partner in the country, in December, the paper said.
Trump on Monday defended his invitation to Duterte in an interview with <a href="https://www.bloomberg.com/politics/articles/2017-05-01/president-donald-trump-interviewed-by-bloomberg-news-transcript">Bloomberg News.</a>
&ldquo;The Philippines is very important to me strategically and militarily,&rdquo; Trump said.
Related Links:
<a href="https://www.benzinga.com/general/politics/17/04/9363603/former-nixon-library-historian-has-familiar-feeling-about-trump">Former Nixon Library Historian Has Familiar Feeling About Trump</a>
<a href="https://www.benzinga.com/general/politics/17/04/9362741/historian-who-picked-trump-presidency-now-forecasts-his-impeachment-s">Historian Who Picked Trump Presidency Now Forecasts His Impeachment: Second 100 Days More Important Than First</a> 
___________ 
Image Credit: "Gramercy Residences and Trump Tower Manila, Philippines" By Lawrence Ruiz (Own work) [CC BY-SA 4.0 (<a href="http://creativecommons.org/licenses/by-sa/4.0" title="http://creativecommons.org/licenses/by-sa/4.0">http://creativecommons.org/licenses/by-sa/4.0</a>)], <a href="https://commons.wikimedia.org/wiki/File:Gramercy_Residences_and_Trump_Tower_Manila.jpg">via Wikimedia Commons</a>

M6.3 Earthquake Near Mindanao, Philippines

Rodrigo Duterte has been serving as the president of the Philippines for less than four months now, but he has already managed to make a name for himself internationally. The head of state made headlines on the back of his firm-hand-approach to the War on Drugs, controversial statements against a series of prominent figures and entities &mdash; from Barack Obama to the U.N., and a comparison he made between Adolf Hitler and himself, among several other scandals and mishaps.

	Most recently, the leader declared a military and economic &quot;separation&quot; from the United States. He then clarified he was talking about &quot;separation of foreign policy,&rdquo; but the comments still caused concern among those industries that rely largely on the U.S. market, especially those (like call centers) providing services to U.S. companies. Others, downplaying the importance of Duterte&rsquo;s words, argue the country can build stronger relations with other countries, without cutting ties with the United States.

	<bzrelatedlink>Related Link: <a href="http://www.benzinga.com/trading-ideas/long-ideas/16/10/8535786/a-hidden-gem-among-emerging-markets-etfs">A Hidden Gem Among Emerging Markets ETFs</a></bzrelatedlink>

	However, the Filipino president is not only upsetting the United States, but also other important allies like Japan, the main investor in the country. Breaking with tradition, Duterte decided to pay an official visit to China before touching base with the United States. This decision was not only a snub to the United States, but also to Japan, as the president had originally said he would visit Tokyo in his first official trip outside the ASEAN (Association of Southeast Asian Nations) region.
<h3>
	Filipino Performance</h3>

	Since Duterte took office as president on June 30, the Philippine peso lost almost 2.6 percent of its value against the U.S. dollar.

	Indexes like the Dow Jones Philippines Index (USD) (INDEXDJX: PHDOWD) lost about 3.5 percent, while ETFs like iShares MSCI Philippines Investable (NYSE: <a class="ticker" href="/stock/ephe#NYSE">EPHE</a>) tumbled by 6.85 percent.

	Finally, the Philippine Stock Exchange PSEi Index has dropped 2.4 percent since June 30.

	<a href="https://pro.benzinga.com/?utm_source=Benzinga&amp;utm_medium=Benzinga%20Top%20of%20Article&amp;am%22%3">Full ratings data available on Benzinga Pro.</a>

	Do you have ideas for articles/interviews you&#39;d like to see more of on Benzinga? Please email <a href="mailto:feedback@benzinga.com">feedback@benzinga.com</a> with your best article ideas. One person will be randomly selected to win a $20 Amazon gift card!

	Disclosure: Javier Hasse holds no interest in any of the securities or entities mentioned above.

Philippine Stocks Are Underperforming Amid President Duterte's Controversial Rule

<h3>Gainers</h3>
<li>Pakistan: Global XMSCI Pakistan ETF (NYSE: <a class="ticker" href="/stock/pak#NYSE">PAK</a>) is up 5.67 percent after receiving MSCI's Emerging Markets Index approval.
</li><li>Peru: iShares MSCI All Peru Capped Index Fund(NYSE: <a class="ticker" href="/stock/epu#NYSE">EPU</a>) is up 2.15 percent after Kuzynski won Peru's nail-biting election.
</li><li>Philippines: iShares MSCI Philippines Investable(NYSE: <a class="ticker" href="/stock/ephe#NYSE">EPHE</a>) is up 2.21 percent after Macquarie Research said President Elect Rodrigo Duterte would lift the Pilipino property market.
</li><li>India: iShares MSCI India ETF (NYSE: <a class="ticker" href="/stock/inda#NYSE">INDA</a>) is up 1.96 percent after India's government relaxed regulation, making it easier for domestic airlines to fly overseas.</li>
<bzrelatedlink>Related Link: <a href="http://www.benzinga.com/trading-ideas/long-ideas/16/06/8112053/some-positive-indexing-news-for-a-frontier-markets-etf">Some Positive Indexing News For A Frontier Markets ETF</a></bzrelatedlink>
<h3>Losers</h3>
<li>Nigeria: Global X Funds(NYSE: <a class="ticker" href="/stock/nge#NYSE">NGE</a>) is down 10.03 percent after the Nigeria Central Bank dropped their foreign exchange peg.
</li><li>Greece: Global X Funds (NYSE: <a class="ticker" href="/stock/grek#NYSE">GREK</a>) is down 1.46 percent after Greek civil aviation workers plan a strike over airport concessions.

</li>

Eurozone

Movers

GREK

INDA

Today's National ETF Movers Explained

Heading into the start of this year, plenty of forecasters posited that if emerging markets equities were to rally or even just turn in steady performances, the leadership would come from Emerging Asia, including the Philippines.

	Indeed, the iShares MSCI Philippines ETF (NYSE: <a class="ticker" href="/stock/ephe#NYSE">EPHE</a>), the lone exchange traded fund dedicated to the Philippine equities, has outperformed the MSCI Emerging Markets Index. However, that is not saying as much as EPHE is down 12.5 percent this year while the emerging markets benchmark has tumbled 16.3 percent.

	That is a disappointing showing for an ETF once viewed by investors as one of the jewels (and strongest) among single-country emerging markets funds. There was a time when investors prized the Philippines&#39; current account surplus and saw the country as one of a small amount of emerging markets beneficiaries of the stronger U.S. dollar due to the large amount of dollar-denominated remittance <a href="http://www.benzinga.com/trading-ideas/long-ideas/13/09/3932583/taper-or-not-4-reasons-the-philippines-etf-will-shine-again">from the U.S. to the Philippines</a>.

	Investors&#39; enthusiasm for EPHE and Philippine equities has waned and some believe 2016 will bring more of the same for the Southeast Asian nation&#39;s equity market, which is headed for its first annual loss since 2008.

	Related Link: <a href="http://www.benzinga.com/trading-ideas/long-ideas/15/12/6063840/searching-for-value-in-the-oil-patch">Searching For Value In The Oil Patch</a>

	BDO Unibank Inc. &quot;expects the nation&rsquo;s equities to decline in the first half of 2016 as higher U.S. borrowing costs fuel outflows and uncertainty builds before the country holds presidential elections,&quot; reports <a href="http://www.bloomberg.com/news/articles/2015-12-21/biggest-philippine-investor-sees-stocks-extending-losses-in-2016">Bloomberg</a>.

	Political volatility is not a factor EPHE has faced since coming to market just over five years. For all of the ETF&#39;s lifespan, the steady Aquino Administration has been in place. While the Aquino government has proven impotent at wiping out corruption, the infrastructure spending has soared while the Philippines enjoyed some of the best GDP growth rates in the developing world on its way to <a href="http://www.benzinga.com/analyst-ratings/analyst-color/13/03/3451569/philippines-etf-soars-on-first-investment-grade-rating">earning investment-grade credit ratings</a> from the major ratings agencies.

	Investors are not showing a willingness to embrace pricey Philippine stocks (the market is one of Asia&#39;s most expensive). Nor or they are enthusiastic about waiting for national elections to play out. EPHE entered 2015 with $331 million in assets under management, but that number has since dwindled to less than $245 million.

	&quot;Foreign investors, who are on course to be net sellers of local stocks this year for the first time since 2008, are likely to withdraw more funds in the first half, BDO Unibank&#39;s Frederico Ocampo said. While stocks could rise in the short-term after the Fed&rsquo;s interest-rate increase last week, more outflows would help stocks reverse gains, said Ocampo, who favors stocks with high dividend yields,&quot; according to Bloomberg.

Next Year Could Be Another Rough One For This Emerging Market ETF

ETF Outlook for Thursday, May 8, 2014

	First Trust NASDAQ Clean Edge Green Energy ETF (NYSE: <a class="ticker" href="/stock/qcln#NYSE">QCLN</a>)

	Red-hot momentum stock Tesla Motors (NASDAQ: <a class="ticker" href="/stock/tsla#NASDAQ">TSLA</a>) reported earnings after the bell Wednesday that came in better than expected along with revenue above estimates. However, the stock is down about seven percent in the pre-market as the stock tests important support at the $184 area.

	Several ETFs could be on the move Thursday due to the high exposure to the stock. QCLN has a 7.4 percent stake in Tesla and the stock is the third largest position in the portfolio. The Market Vectors Global Alternative Energy ETF (NYSE: <a class="ticker" href="/stock/gex#NYSE">GEX</a>) also calls Tesla its third largest holding with a 9.1 percent allocation. Both ETFs have been moving lower in the last two months and should continue that trend on Thursday.

	iShares Natural Resources ETF (NYSE: <a class="ticker" href="/stock/ige#NYSE">IGE</a>)

	The energy-heavy ETF closed at a new multi-year high Wednesday after gaining 0.7 percent and extending its winning streak to four sessions. The ETF is closing in on an important level at $47.81, which is the 2011 high.

	See also: <a href="http://www.benzinga.com/etfs/broad-u-s-equity-etfs/14/05/4535307/3-small-cap-etfs-with-better-performance-than-iwm">3 Small-Cap ETFs With Better Performance Than IWM</a>

	A breakout above the resistance level will be a major move for the ETF and could send it much higher in the months ahead. On the flipside, failure to breakout could signal a pullback of at least 10 percent before it can begin a new uptrend. The major holdings of IGE include Exxon Mobil (NYSE: <a class="ticker" href="/stock/xom#NYSE">XOM</a>) and Chevron (NYSE: <a class="ticker" href="/stock/cvx#NYSE">CVX</a>).

	iShares MSCI Mexico ETF (NYSE: <a class="ticker" href="/stock/eww#NYSE">EWW</a>)

	The neighbor to the south has been quietly breaking out and is now trading at the best level since January. The ETF was up 1.2 percent yesterday and has been up four out of the last five trading sessions.

	On a longer-term chart it appears that EWW has broken a downtrend pattern that has been in place for a year. The good volume on the up days over the last two months is another positive for the ETF. The only concern is that EWW is overbought in the short-term, however strong ETFs have been known to continue rallying in the face of overbought readings.

	iShares MSCI Philippines Investable Market ETF (NYSE: <a class="ticker" href="/stock/ephe#NYSE">EPHE</a>)

	The Southeast Asian country had its ETF close at the best level in nine months yesterday, however there is another reason to keep an eye on the action this week. The country is at a standstill with China after it has detained 11 Chinese fishermen to determine if they have committed any crimes.

	While China is demanding the immediate release of the fisherman, the Philippines have not complied. This may end up being a non-story, but it is something to watch; even more so with the ETF at a multi-month high.

Sector ETFs

Specialty ETFs

Previews

Pre-Market Outlook

Market Vectors Global Alternative Energy ETF Trust

iShares S&P GSSI Natural Resources Sector Index Fund

First Trust NASDAQ Clean Edge Green Energy Index Fund

QCLN

TSLA

ETF Outlook for Thursday, May 8, 2014 (QCLN, TSLA, IGE, EWW, EPHE, XOM)

Since hitting a high on April 4, the SPDR S&amp;P 500 ETF (NYSE: <a class="ticker" href="/stock/spy#NYSE">SPY</a>) has fallen over two percent as the momentum stocks have succumb to profit-taking.

	The ETF breached the 50-day moving average for the second time this year during the pullback before attempting to rally this week.

	The choppy trading has not affected the overall market too much, but individual stocks and ETFs have fared much worse.

	Meanwhile, a handful of international ETFs have been able to avoid the selling and have attracted buyers as U.S. stocks struggle. The one trend that has been evident overseas has been money flowing into emerging and frontier markets.

	Many of the countries underperformed the U.S. last year, but have now reached levels that are attractive on a valuation basis.

	Global X Nigeria Index ETF (NYSE: <a class="ticker" href="/stock/nge#NYSE">NGE</a>)

	The country more known for corruption and geopolitical concerns than the fact they are the Africa’s largest oil producer has a bright future. According to the U.N., the country could have a population that is larger than the U.S. by 2050 and with that magnitude of growth there are investment opportunities.

	See also: <a href="http://www.benzinga.com/etfs/sector-etfs/14/04/4475375/etfs-moving-on-earnings-smh-iat-intc-usb-pnc">ETFs Moving On Earnings</a>

	The beauty of an ETF is that investors are able to gain access to a wide range of stocks and sectors within Nigeria. The continents largest economy, according to the country’s numbers will provide big upside potential, however investors must be aware of high volatility and the potential of sizable pullbacks.

	iShares MSCI Philippines ETF (NYSE: <a class="ticker" href="/stock/ephe#NYSE">EPHE</a>)

	The ETF has quietly put together a solid 2014 with a gain over 13 percent for the year. This follows a great 2012 and a loss of 8.5 percent last year. The trend has appeared to shift back to the bullish side as the extremely young country, median age of 23, is back on the right track.

	The financial stocks make up the largest portion of the portfolio, which is a positive as consumption has been steady along with the probability of more infrastructure projects in the country.

	iShares MSCI Thailand Capped ETF (NYSE: <a class="ticker" href="/stock/thd#NYSE">THD</a>)

	Even though political tensions have been increasing over the last few months the ETF has been able to shrug off worries as it is now at the in five months and is up 10 percent in 2014.

	Similar to EPHE, the ETF struggled in 2013 before finding a bottom earlier this year. It appears investors are looking past the current situation and investing for the long-term positive outlook for the Southeast Asian economy.

Broad U.S. Equity ETFs

iShares MSCI Thailand Investable Market Index Fund

International ETFs Showing Strength (NGE, EPHE, THD, SPY)

ETF Outlook for Friday, November 29, 2013

	iShares MSCI Philippines ETF (NYSE: <a class="ticker" href="/stock/ephe#NYSE">EPHE</a>)

	The country reported seven percent GDP growth in the third quarter yesterday, below the previous 7.6 percent and not quite at the 7.1 percent estimate. However, it is the fifth consecutive quarter of growth of at least seven percent and that was good enough to send stocks in the country higher.

	Next quarter growth is expected to drop after Typhoon Haiyan took a big toll on the country. Looking ahead the rebuilding may end up boosting GDP next year. The good news is that inflation remains moderate and domestically the Philippines has strong domestic demand.

	Rydex CurrencyShares British Pound ETF (NYSE: <a class="ticker" href="/stock/fxb#NYSE">FXB</a>)

	The Bank of England announced it would scale back it’s Funding for Lending Scheme to help cool off the robust housing market. By not focusing on mortgages the BOE believes this could help divert the housing market from going into a bubble.

	Related: <a href="http://www.benzinga.com/etfs/sector-etfs/13/11/4110621/where-is-the-bottom-for-gold-miners-gdx-gdxj-dust-jdst">Where is the Bottom for Gold Miners? (GDX, GDXJ, DUST, JDST)</a>

	The news sent the Pound higher as it would be less “easing." The currency and ETF are now sitting at a one-year high and not far from a multi-year high.

	Rydex CurrencyShares Japanese Yen ETF (NYSE: <a class="ticker" href="/stock/fxy#NYSE">FXY</a>)

	Yesterday the yen continued its freefall as Japanese stock hit a six-year high as measured by the Nikkei. FXY is trading at the lowest level in years and attempting to fight the Bank of Japan appears to be a losing battle.

	The lower trade yen is not over as many analysts have been calling for. The combination of weak yen and strong Japanese stocks has been pushing the WisdomTree Japan Hedged Equity ETF (NYSE: <a class="ticker" href="/stock/dxj#NYSE">DXJ</a>) to new six-month highs. The ETF is long Japanese stocks and short the Yen; a win-win for investors.

	iShares MSCI Germany ETF (NYSE: <a class="ticker" href="/stock/ewg#NYSE">EWG</a>)

	The German unemployment rate did not change from last month and came in at 6.9 percent for November. But the number of unemployed rose to the highest since April 2011.

	German stocks were up after the news slightly. EWG is trading at new all-time high as investors continue to put money into European stocks that appear to be trading undervalued versus their American peers.

WisdomTree Trust Japan Total Dividend Fund

CurrencyShares British Pound Sterling Trust

ETF Outlook for Friday, November 29, 2013

The latest jobs report from Australia and Indian inflation feature in next week's data calendar. Meanwhile, the Philippines holds a policy meeting and is expected to pause.

Asia Week Ahead: Jobs Data From Australia, India's Inflation Report And A Central Bank Meeting

Asia-Pacific Is Not Just China

EM Central Banks: More Easing In The Cards?

Weekly Commentary: Inflationary Biases

The coming week features China's Two Sessions meeting while also featuring GDP from Australia and South Korea.

Asia Week Ahead: China's Two Sessions Meeting And Australian GDP Numbers Out Next Week

Next week features Japan's revised GDP numbers and China's decision on the medium-term lending facility.

Asia Week Ahead: People's Bank Of China To Set Rates And Japan's Revised GDP

Indo-Pacific focus: U.S. firms to invest $1B in Philippines; next up, Thailand

Weekly Commentary: Failed

EPHE: A Promising Prospect In A Tense Neighborhood

Weekly Commentary: That's Our Story.

ACTV

ADIV

AFMC

AFSM

AFTY

ARKK

ASEA

ASHR

ASHS

ASHX

AVEM

AVES

AVUV

BAPR

BBAX

BBCA

BBEU

BBJP

BRZU

CBON

CHIC

CHIE

CHIH

CHII

CHIK

CHIM

CHIQ

CHIR

CHIS

CHIU

CHIX

CNXT

CNYA

CQQQ

CXSE

DBEM

DBEU

DBEZ

DBGR

DBJP

DFEV

DIEM

DVYA

DXJS

EBND

ECNS

EEMA

EGPT

EJUL

EMCR

EMFM

EMLC

EMXC

ENZL

ESGE

EUDG

EUDV

EURL

EUSC

EWGS

EWJV

EWUS

EWZS

FEMB

FEUZ

FLAU

FLAX

FLBR

FLCA

FLCH

FLEE

FLEU

FLFR

FLGB

FLGR

FLHK

FLIN

FLIY

FLJH

FLJP

FLKR

FLLA

FLMX

FLSA

FLTW

FLZA

FPXE

FRDM

GLIN

GOOG

GSEU

GSJY

HAUZ

HEDJ

HEEM

HEWG

HEWJ

HEZU