We’ve talked a lot about the British currency exchange traded fund (ETF) and its benefits, but we haven’t featured much on the United Kingdom ETF. The iShares MSCI United Kingdom Index Fund (EWU) tracks the publicly traded securities in the British market. Financials, energy and consumer staples make up the bulk of this fund. (Financials at 26%, energy at 17% and consumer staples at 11%)
Forbes reports recent economic data shows the United Kingdom is expected to grow 2.8% in 2007 but slow to 2.6% in 2008 and 2.4% in 2009. Unfortunately, our recent market correction seems to have affected EWU’s performance. It is below its trend line, and it is up 3.1% year-to-date.
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.