An ETF that recovered last week after a drubbing that occurred earlier in April is AFK (Market Vectors Africa, Expense Ratio 0.78%), and trading volume has been exceptionally above average for basically the entire month.
The fund tracks the Dow Jones Africa Titans 50 Index, with exposure to countries including Nigeria (25.19%), South Africa (24.17%), the United Kingdom (16.47%), Egypt (15.99%), and Morocco (9.76%) to name the top country weightings.
The index itself is made up of companies that are either headquartered in Africa or derive the lion’s share of their revenues from operations in Africa.
Industry sectors that have the heaviest concentrations currently are Financial Services (38.22%), followed by Communication Services (12.51%) and Energy (12.40%), and top holdings in the fund are Guaranty Trust Bank PLC (6.51%), Tullow Oil PLC (6.13%), and FBN Holdings (5.81%).
Other ETFs to note that fall within the “Africa” regional category include EZA (iShares MSCI South Africa, Expense Ratio 0.59%), EGPT (Market Vectors Egypt Index, Expense Ratio 0.94%), SZR (WisdomTree Dreyfus South African Rand, Expense Ratio 0.45%), and GAF (SPDR S&P Middle East and Africa, Expense Ratio 0.59%).