iShares MSCI Turkey ETF (NYSEArca: TUR)
Local Market YTD: -8.1%
ETF YTD: -15.9%
Comment: TUR is something of a “paradise lost” ETF. It was one of 2012’s best emerging markets ETFs as Turkey gained favor among global investors as a beacon of economic growth and stability in a volatile part of the world. That positive sentiment was undone at the hands of violent anti-government protests earlier this year. The Turkish lira ranks among the worst-performing developing world currencies this year, exacerbating TUR’s problems.