One of the top-performing exchange traded funds (ETFs) over the last week might come as a surprise after all the talk about short ETFs amid market turmoil.
It’s the iShares MSCI Chile (ECH), launched in November 2007, which is up 13.8% this week. It’s a single-country fund that’s diversified over several sectors, reports Gary Gordon for ETF Expert. Half of the fund resides in utilities and industrial stocks, while 17% is in materials and 13% is consumer-related.
It also gives exposure to copper, a valuable metal in times when emerging markets are thriving. Chile accounts for one-third of the world’s metal production. The country also benefits from literacy levels that reside near 100%, a high level of domestic investment and savings rates, and nearly 45% of its GDP is linked to foreign trade.
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.