Including today’s losses, EEM and VWO are both down a bit more than 5% over the past month. EEM resides 1.2% below its 200-day moving average while VWO is 2.2% below that important technical indicator.
Making the recent retrenchment in emerging markets ETFs all the more concerning is that these funds have not been able to gain steam even after Goldman Sachs last week boosted its rating on Indian stocks to marketweight from underweight. Credit Suisse recently sound a bullish tone on the downtrodden Indian rupee.
iShares MSCI Emerging Markets ETF
ETF Trends editorial team contributed to this post. Tom Lydon’s clients own shares of EEM.