A single country ETF that has had a nice resurrection in the past two weeks on the greater theme of equity strength in Emerging Markets and particularly Latin America going into quarter’s end is EWW (iShares Mexico, Expense Ratio 0.52%).
The fund has scooped up a fresh $200 million in new assets in recent sessions to add to its asset base of about $2.6 billion. Not to date itself, but when EWW debuted in March of 1996 the Gin Blossoms still had top ten Billboard hits on the charts in “Follow You Down/Til I Hear It From You.”
The fund is mega/large cap slanted in terms of its index weightings, with top end exposure to America Movil, SAB de CV (16.96%), Fomento Economico Mexicano SAB de CV (7.56%), and Grupo Financiero Banorte SAB de CV (7.05%), and from a sector standpoint the ETF is most exposed to Consumer Staples (21.47%) Basic Materials (21.24%), and Telecom (17.44%).
EWW is actually the second largest ETF in the greater “Latin America Equity” ETF category behind EWZ (iShares MSCI Brazil, Expense Ratio 0.60%) which has about $4.1 billion in AUM.
The lesser known DBMX (DB X-Trackers MSCI Mexico Hedged Equity Fund, Expense Ratio 0.50%) which debuted in January of this year may see a nice uptick in activity in interest given this rally in Mexico based stocks, and other ETFs that have a healthy weighting to Mexico include GSGO (ALPS/GS Momentum Builder Growth Markets Equities and U.S. Treasuries Index, Expense Ratio 1.29%) and EEML (iShares MSCI Emerging Markets Latin America, Expense Ratio 0.49%) at about 30% and 27% weightings apiece.