ETF Spotlight on SDPR S&P Emerging Europe ETF (NYSEArca: GUR), part of an ongoing series.
Assets: $118.34 million.
Objective: The SPDR S&P Emerging Europe ETF tries to reflect the performance of the S&P European Emerging BMI Capped Index, which is a market-cap weighted Index that holds publicly traded companies domiciled in emerging European markets.
Holdings: Top holdings include: Gazprom 17.74%, Lukoil Oil Co. 7.58%, Sberbank of Russia 6.65%, Novatek Oao 5.58% and Jsc Mmc Norilsk Nickel 5.32%.
What You Should Know:
- State Street Global Advisors sponsors the fund.
- GUR has an expense ratio of 0.59%.
- Sector allocations include: Energy 41.96%, Financials 21.82%, Materials 13.52%, Telecom Services 9.18%, Utilities 3.97%, Consumer Discretionary 2.87%, Consumer Staples 2.72%, Industrials 2.51%, Health Care 1.15%, Info. Tech. 0.30%.
- Country allocations include: Russia 63.76%, Turkey 15.47%, Poland 12.27%, Czech Republic 4.60% and Hungary 3.89%.
- The fund is up 11.93% over the last month, down 21.24% over the past three months and down 17.41% year-to-date.
The Latest News:
- European Union negotiations on “haircuts” for bondholders could be a sticking point for a plan to stem the debt crisis at Wednesday’s summit meeting, Bloomberg reported.
- GUR recently crossed over its 50-day exponential moving average.
- Emerging markets are gaining momentum off China’s decision to hold-off interest rate hikes, which helped stir speculation that Chinese demand for commodities will continue to grow, according to Bloomberg. [China ETFs Rise on Manufacturing Data]
- “China is providing most of the visible growth in emerging markets, and a signal that it’s at the end of raising rates will be a very positive development,” Rico Gomez, a money manager at Rizal Commercial Banking Corp., said. “Much of the malaise in the market in the past couple of months was driven by Europe’s debt crisis and everyone’s looking at what actions the region will take to ease this uncertainty.”
- Russia’s Micex Index rallied 2.6% on speculation of growth in China, the world’s second-largest crude oil consumer.
- Emerging market ETFs saw tacked on $1.5 billion in inflows in October, the most in six months, according to a TrimTabs report.
SPDR S&P Emerging Europe ETF
For past stories in this series, visit our ETF Spotlight category.
Max Chen contributed to this article.
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.