That news comes after Spain has borrowed 41.3 billion euros to save its ailing banks. All of this is relevant to EWP because the ETF allocates over 40% of its weight to financial services names. Alone, Banco Santander (NYSE: SAN) is EWP’s largest holding at weight of 19.2%. With EWP trading less than 7% below its 52-week, it might be fair to say the worst news has already been priced into Spanish stocks.
iShares MSCI Spain Index Fund
ETF Trends editorial team contributed to this post.