Exchange traded funds that invest in Europe are the worst performers in ETFs over the past month with little respite from the credit crisis despite the recent second bailout of Greece.
Several single-country ETFs in the region have been hit hard on worries the debt contagion is spreading. The iShares MSCI Italy (NYSEArca: EWI) and iShares MSCI Spain (NYSEArca: EWP) are both down more than 15% over the past month.
Other ETFs that have shed at least 10% include iShares MSCI France (NYSEArca: EWQ), SPDR Euro Stoxx 50 (NYSEArca: FEZ), iShares MSCI Austria (NYSEArca: EWO) and iShares MSCI EMU (NYSEArca: EZU).
The Spain and Italy ETFs lost about 4% on Tuesday in the global sell-off in stocks.
PowerShares DB 3x Italian Treasury Bond Futures ETN (NYSEArca: ITLT), a leveraged ETF tracking Italian government bonds, fell 2.5% as yields continued to rise. [Gold, Silver ETFs Higher as Situation Worsens in Italy]
iShares MSCI Italy
PowerShares DB 3x Italian Treasury Bond Futures ETN
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.