EWH has a trailing 12-month yield of 2.47%, more than 50 basis points better than the iShares Core S&P 500 ETF (NYSEArca: IVV). Hong Kong also offers the benefit of being a developed market with an AAA credit rating. Still, none of those factors are compelling investors to embrace EWH. The ETF has seen outflows of $691.6 million since the start of May, more than triple the amount pulled from FXI over the same time, according to Index Universe data.
Adding to the bearishness surrounding EWH, the ETF fell below its 200-day moving average last week. Should the ETF fall just another 1.4%, it would officially be in correction territory, or a 10% decline from its most recent peak, which is $21.02 in early May.
iShares MSCI Hong Kong Index Fund
ETF Trends editorial team contributed to this post.