ETF Spotlight on the Global X FTSE Argentina 20 ETF (NYSEArca: ARGT), part of an ongoing series. The global spotlight is on Argentina after Cardinal Jorge Mario Bergoglio of Buenos Aires was named Pope Francis leader of the Catholic world.
Assets: $4 million.
Objective: The Global X FTSE Argentina 20 fund tries to reflect the performance of the FTSE Argentina 20 Index, which is comprised of the twenty largest companies in the Argentine market.
Holdings: Top holdings include Mercadolibre Inc 20.2%, Tenaris SA 19.8%, Arcos Dorados Holdings 11.4%, Telecom Argetina 5.6% and YPF Sociedad Anonima 5.1%.
What You Should Know:
- Global X sponsors the fund.
- ARGT has a 0.75% expense ratio.
- The fund currently holds 21 stocks, and the top ten make up 80.4% of the overall portfolio.
- Sector allocations include basic materials 34%, consumer cyclical 35.7%, financial services 8.9%, real estate 2.0%, telecom services 5.7%, energy 9.2%, consumer defensive 2.6% and utilities 2.0%.
- The ETF has a 1.07% 12-month yield.
- ARGT is down 0.3% over the past month, up 5.3% over the last three months and down 17.5% over the past year.
- On a risk basis, the fund shows a 2.2% beta to the S&P 500 and a 1.56 beta to the MSCI Emerging Markets Index.
- According to Morningstar, the ETF is trading at a 0.34% bid/ask spread and a 0.08% discount to its net asset value.
The Latest News:
- Argentine stocks have been gaining momentum, charged by the record gains in the U.S. markets, reports Shane Romig for the Dow Jones News Wire.
- On Wednesday, the college of cardinals elected Cardinal Jorge Mario Bergoglio of Buenos Aires as the next Pope in Vatican city.
- The newly elected Pope Francis is the first Latin American to lead the Roman Catholic Churck, reports Gavin Hewitt for BBC.
- The Mervel index of 13 leading Argentine stocks popped higher in late day trading after the Vatican announced the new Pope, reports Laura Mandaro for MarketWatch.
- The economy could also witness growth as its neighbor, Brazil, ramps up efforts ahead of hosting the World Cup and Summer Olympics.
Global X FTSE Argentina 20 ETF
For past stories in this series, visit our ETF Spotlight category.
Max Chen contributed to this article.