Those impressive fundamentals may have already been priced into the $2.4 billion EWW because the ETF has been a real emerging markets laggard in recent weeks. Since August 23, around the time emerging markets ETFs started to bottom, EWW has lost 3.7%. Over the same time, EEM is up almost 8%. EWZ has jumped 10.7%.
Single-country funds for Colombia, Chile and Peru are all in the green over a time period when EWW has slipped. EWW has also been noticeably more volatile than EWZ, an ETF with a three-year standard deviation of 26.34%.
EWW now faces a precarious technical situation. The chart below from TradeWithPete indicates that if EWW cannot hold in the $62-$63, it could retest its June/July lows. EWW resides 8.7% below its 200-day moving average, an area that has acted as resistance twice in recent months.