After a bumpy start, the broad equities market and stock exchange traded funds made a strong rebound over August. The S&P 500 is trying to break through its highest level since 2008.
The top ETF performers over August include WisdomTree Euro Debt Fund (NYSArca: EU) up 13.3%, Market Vectors Egypt Index ETF (NYSEArca: EGPT) up 12.7% and Global X Silver Miners ETF (NYSEArca: SIL) up 11.5%.
The Europe-related ETFs strengthened as the Eurozone outlook lightened on promises that the European Central Bank would support ailing member states.
Egyptian stocks have made a rebound after last year’s political uprising, reflecting greater foreign interest as the country’s political environment stabilizes somewhat.
Silver miners performed on the heels of the stronger precious metals prices, with silver rising back above $30 per ounce. [Gold Miner ETFs Outperforming Bullion in August]
Other top performing ETFs include those that track energy, home builders foreign equities and precious metals.
The Dow Jones Industrial Average remained relatively flat over the month, dipping 0.2%. Meanwhile, the Nasdaq Composite added 3.5% and the S&P 500 rose 1.3%.