Portugal is expected to run a government budget surplus of approximately 3.5% in 2014 after the European Central Bank’s aid program ends and the country is expected to have positive GDP next year, according to Global X.
Global X has had some success with Europe ETFs tracking downtrodden equity markets in the past. For example, the Global X FTSE Greece 20 ETF (NYSEArca: GREK) is one of the best single-country Europe ETFs this year and is closing in on $100 million in assets under management. [Run Don’t Walk to Greece ETF]
Other Global X Europe ETFs include the Global X Norway 30 ETF (NYSEArca: NORW) and the Global X FTSE Nordic Region ETF (NYSEArca: GXF).
The Guggenheim Timber Index ETF (NYSEArca: CUT) is one of just a few ETFs that had decent Portugal exposure prior to PGAL’s debut. CUT has a 4.6% weight to the country.