The Contrarian: Single-Country ETFs

Many exchange traded funds that track individual countries have been beaten to a pulp in 2011. Some bargain hunters see cheap valuations in these hard-hit ETFs despite global debt and economic tensions.

Last week, we took a look at some of the most oversold ETFs measured by distance from the 50-day moving averages. [The Contrarian: Oversold ETFs]

According to My Simple Quant, over 90% of single-country ETFs are trading below their 200-day moving averages, indicating bear market territory.

“Only three of these ETFs are even up on the year,” according to the blog. “The market is now (and has been for a few weeks)¬†guilty until proven innocent.”

With most of these funds trading deep in the red, a contrarian investor may see a potential buying opportunity.

It is important to have an investment strategy in place to know when to exit or enter a market. Our investment approach includes using moving averages to reduce portfolio risk and to spot opportunities. [ETF Trend-Following Plan.]

For more information on country ETFs, visit our global ETFs category.

TickerDate/TimeETFClose% Above/Below
200 SMA
YTD Change (%)
TUR8/22/2011Turkey Investable Market Index44.58-40.7-32.67
EWI8/22/2011Italy Index12.89-34.47-21.31
VNM8/22/2011Market Vectors Viam18.18-29.43-30.56
EIS8/22/2011Israel Capped Investable Market43.76-28.65-27.69
EWG8/22/2011Germany Index19.62-28.62-18.05
EWO8/22/2011Austria Investable Market Index17.07-28.41-23.56
EWD8/22/2011Sweden Index24.49-27.35-21.58
RSX8/22/2011Market Vectors Russia Trust Sbi30.47-25.57-19.63
EPOL8/22/2011Poland Investable Market Index27.9-24.7-16.94
EWN8/22/2011Netherlands Investable Market I17.33-23.46-17.83
EWQ8/22/2011France Index20.96-22.97-14.27
EWY8/22/2011South Korea Index50.31-22.23-17.78
EWZ8/22/2011Brazil (Free) Index60.15-22.21-22.29
FXI8/22/2011FTSE China 25 Index35.67-20.68-17.22
EPI8/22/2011Wisdomtree India Earnings19.94-20.15-24.44
EWP8/22/2011Spain Index33.75-18.95-8.14
AFK8/22/2011Market Vectors Africa28.18-16.84-19.9
EWT8/22/2011Taiwan Index12.93-16.01-17.22
ECH8/22/2011Chile Investable Market Index63.46-15.61-20.28
EWK8/22/2011Belgium Ivestable Market Index11.91-15.09-9.29
EIRL8/22/2011Ireland Capped Investable Market18.44-15.04-9.21
SPY8/22/2011SPDR S&P 500112.73-14.12-10.35
EWH8/22/2011Hong Kong Index16.52-13.99-12.68
EWA8/22/2011Australia Index22.36-13.8-12.11
EWU8/22/2011United Kingdom Index15.61-13.19-10.13
EWC8/22/2011Canada Index27.9-13.02-10
MES8/22/2011Market Vectors Gulf Shares19.98-12.35-15.55
EWJ8/22/2011Japan Index9.45-11.42-13.38
EWS8/22/2011Singapore (Free) Index12.31-11.01-11.12
EWW8/22/2011Mexico Investable Market Index54.96-10.56-11.24
EZA8/22/2011South Africa Index63.55-10.04-14.9
EWL8/22/2011Switzerland Index23.26-9.56-7.26
EWM8/22/2011Malaysia (Free) Index14.29-1.85-0.63
EPHE8/22/2011Philippines Investable Market24.250.75-2.73
THD8/22/2011Thailand Investable Market Index65.930.972.04
ENZL8/22/2011New Zealand Investable Market31.152.126.02
EIDO8/22/2011Indonesia Investable Market Index31.244.137.35

Source: My Simple Quant

Max Chen contributed to this article.

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