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Best Country ETFs of November

After almost a year-long wait, the month of November started delivering sweet surprises to investors in the form of back-to-back COVID-19 vaccine update from pharma companies likePfizer, Moderna and AstraZeneca. This raised hopes of a return to normalcy sooner than expected.

IHS Markit foresees 7.4% shrinkage in GDP (gross domestic product) in 2020 and 3.7% expansion in 2021, as quoted in CNBC. Optimism around vaccine developments and the likelihood of a solid rebound in corporate confidence and profitability will likely boost European stocks in 2021.

“Expectations of more stimulus from the European Central Bank and the bloc’s 1.8 trillion euro plan to recover from the recession" (per Reuters) probably have boosted global markets in November (read: 7 Europe ETFs Trending Up Despite Virus Cases & Lockdowns).

Overall, global stocks had a record-breaking month in November. Emerging-market currencies logged their largest gains in almost two years.  Many European markets posted their best month ever, with France up 21% and Italy gaining almost 26%. The Nikkei’s 15% gain offered the index its best month since 1994, per Reuters.

Against this backdrop, below we highlight a few country ETFs that gained more than 25% in November.

Top-Performing Country ETFs in Focus

Global X MSCI Greece ETF GREK – Up 36.8%

The underlying MSCI All Greece Select 25/50 Index represents the performance of the broad Greece equity universe including securities classified in Greece according to the MSCI Global Investable Market Index Methodology, together with companies that are headquartered or listed in Greece and carry out the majority of their operations in that country. The fund charges 57 bps in fees.

Austria iShares MSCI ETF EWO – Up 30.1%

The underlying MSCI Austria IMI 25/50 Index measures the equity market performance in Austria. The fund charges 49 bps in fees.              

Turkey iShares MSCI ETF TUR – Up 29.4%

The underlying MSCI Turkey IMI 25/50 Index is a free float-adjusted market capitalization index designed to measure broad-based equity market performance in Turkey. The index consists of stocks traded primarily on the Istanbul Stock Exchange. The fund charges 59 bps in fees (read: Turkey ETF Looks Appetizing Ahead of Thanksgiving).       

Spain iShares MSCI ETF EWP – Up 29.4%

The underlying MSCI Spain 25/50 Index consists of stocks traded primarily on the Madrid Stock Exchange. The underlying index is a free float-adjusted market capitalization-weighted index with a capping methodology applied to issuer weights. It charges 50 bps in fees.

Poland iShares MSCI ETF EPOL – Up 28.7%

The underlying MSCI Poland IMI 25/50 Index measures the equity market performance in Poland. The fund charges 61 bps in fees.

Brazil iShares MSCI ETF EWZ – Up 28.5%

The underlying MSCI Brazil 25/50 Index consists of stocks traded primarily on the BM&FBOVESPA. It is a free float-adjusted market capitalization-weighted index. The fund charges 59 bps in fees.

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iShares MSCI Brazil ETF (EWZ): ETF Research Reports
 
iShares MSCI Spain ETF (EWP): ETF Research Reports
 
iShares MSCI Poland ETF (EPOL): ETF Research Reports
 
Global X MSCI Greece ETF (GREK): ETF Research Reports
 
iShares MSCI Austria ETF (EWO): ETF Research Reports
 
iShares MSCI Turkey ETF (TUR): ETF Research Reports
 
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Zacks Investment Research
 
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

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