An ETF that is likely not on the screens of most managers due to lower average daily volume, that has seen a huge pick-up in activity this week is TOK (iShares MSCI Kokusai Index, Expense Ratio 0.25%).
Averaging about 19,000 shares a day, the fund saw more than 500,000 shares trade on Wednesday of this week, and this ETF delivers Global Equity exposure, with its top weightings in AAPL (1.74%), XOM (1.71%), GE (0.96%), CVX (0.93%), and NSRGF (0.91%).
Holding 1,265 individual equity names the fund is very well balanced and intended to be a global equity proxy, with exposure to countries including the United States, Europe, Canada, Australia, and Asia (but importantly excluding Japan).
Given Japan’s impressive equity rally in 2013, activity in such a fund at this juncture (after the big move up) that excludes Japan is particularly interesting.