“Whether this is a global rotation into the junkiest of the junk – betting on the inevitable rescue and intervention to keep everyone safe, or merely front-running an ECB QE effort as inflation tumbles – is unclear but it is worth noting that this is the best start to a year for Greek stocks since 1994,” according to Zerohedge.

Shares of National Bank of Greece (NYSE: NBG), one of GREK’s holdings that trades in the U.S., is up 3.5% in the past five sessions. The stock is GREK’s fourth-largest holding with a weight of almost 7.4%.

Global X FTSE Greece 20 ETF

ETF Trends editorial team contributed to this post.