iShares MSCI Finland Capped ETF (NYSEArca: EFNL)
Local Market YTD: 24.7%
ETF YTD: 32.5%
Comment: Since there is no such thing as a free lunch, there is a cautionary side to the EFNL story. Finland’s lethargic growth and rising debt-to-GDP ratio are putting EFNL’s good news story at risk. The Finnish government is desperate to maintain its AAA rating and is employing austerity as a means of doing so. That decreased government spending is crimping Finnish firms and some EFNL constituents. [Flirting With Finland…The ETF]