Exchange traded funds that invest in India have been on a tear in the first few trading sessions of 2012, attempting to reverse some of the lagging returns of last year. Although not designed as a long-term holding, INDL (Direxion Daily India Bull 3X) is up an impressive 24.33% year to date, and will likely appeal to traders looking to play the long side of India for quick moves.
SCIF (Market Vectors India Small Cap) is next, and is up 18.10% year to date, followed by SCIN (EG Shares India Small Cap), which has rallied 13.95%. EPI (WisdomTree India Earnings) is the largest Indian based ETF in the space in terms of assets under management, is up 10.00% year to date, followed by INXX (EG Shares India Infrastructure), which is an infrastructure geared play, up 9.57%. [India ETFs Tumble]
INP (iPath MSCI India Index ETN) is next in line, up 8.99%, followed by INDY (iShares S&P India Nifty Fifty), which has surged 8.46% year to date. Finally, PIN (PowerShares India) is up 8.04% and INCO (EG Shares Consumer) has rallied 3.30% in 2012.
In terms of products that short India, INDZ (Direxion Daily India Bear 3X) allows for short term speculation and/or hedging on a 3 times leveraged basis, as this product, like INDL, tracks the Indus India Index. With quite a bit of ground to still make up after last year’s flagging performance, not only specifically in India but the emerging markets in general, the early strength in 2012 in India is indeed encouraging.
WisdomTree India Earnings