The Contrarian: Single-Country ETFs

August 23rd at 3:52pm by Tom Lydon

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.

Ticker Date/Time ETF Close % Above/Below
200 SMA
YTD Change (%)
TUR 8/22/2011 Turkey Investable Market Index 44.58 -40.7 -32.67
EWI 8/22/2011 Italy Index 12.89 -34.47 -21.31
VNM 8/22/2011 Market Vectors Viam 18.18 -29.43 -30.56
EIS 8/22/2011 Israel Capped Investable Market 43.76 -28.65 -27.69
EWG 8/22/2011 Germany Index 19.62 -28.62 -18.05
EWO 8/22/2011 Austria Investable Market Index 17.07 -28.41 -23.56
EWD 8/22/2011 Sweden Index 24.49 -27.35 -21.58
RSX 8/22/2011 Market Vectors Russia Trust Sbi 30.47 -25.57 -19.63
EPOL 8/22/2011 Poland Investable Market Index 27.9 -24.7 -16.94
EWN 8/22/2011 Netherlands Investable Market I 17.33 -23.46 -17.83
EWQ 8/22/2011 France Index 20.96 -22.97 -14.27
EWY 8/22/2011 South Korea Index 50.31 -22.23 -17.78
EWZ 8/22/2011 Brazil (Free) Index 60.15 -22.21 -22.29
FXI 8/22/2011 FTSE China 25 Index 35.67 -20.68 -17.22
EPI 8/22/2011 Wisdomtree India Earnings 19.94 -20.15 -24.44
EWP 8/22/2011 Spain Index 33.75 -18.95 -8.14
AFK 8/22/2011 Market Vectors Africa 28.18 -16.84 -19.9
EWT 8/22/2011 Taiwan Index 12.93 -16.01 -17.22
ECH 8/22/2011 Chile Investable Market Index 63.46 -15.61 -20.28
EWK 8/22/2011 Belgium Ivestable Market Index 11.91 -15.09 -9.29
EIRL 8/22/2011 Ireland Capped Investable Market 18.44 -15.04 -9.21
SPY 8/22/2011 SPDR S&P 500 112.73 -14.12 -10.35
EWH 8/22/2011 Hong Kong Index 16.52 -13.99 -12.68
EWA 8/22/2011 Australia Index 22.36 -13.8 -12.11
EWU 8/22/2011 United Kingdom Index 15.61 -13.19 -10.13
EWC 8/22/2011 Canada Index 27.9 -13.02 -10
MES 8/22/2011 Market Vectors Gulf Shares 19.98 -12.35 -15.55
EWJ 8/22/2011 Japan Index 9.45 -11.42 -13.38
EWS 8/22/2011 Singapore (Free) Index 12.31 -11.01 -11.12
EWW 8/22/2011 Mexico Investable Market Index 54.96 -10.56 -11.24
EZA 8/22/2011 South Africa Index 63.55 -10.04 -14.9
EWL 8/22/2011 Switzerland Index 23.26 -9.56 -7.26
EWM 8/22/2011 Malaysia (Free) Index 14.29 -1.85 -0.63
EPHE 8/22/2011 Philippines Investable Market 24.25 0.75 -2.73
THD 8/22/2011 Thailand Investable Market Index 65.93 0.97 2.04
ENZL 8/22/2011 New Zealand Investable Market 31.15 2.12 6.02
EIDO 8/22/2011 Indonesia Investable Market Index 31.24 4.13 7.35

Source: My Simple Quant

Max Chen contributed to this article.

The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.