Since the start of 2013, several notable developed markets have taken turns being momentum plays. That roster would include the U.S., Japan and various members of the Eurozone.

Israel, the country most recently promoted to developed market status from emerging markets classification by index provider MSCI (that promotion occurred several years ago), is a legitimate momentum market in its own right.

“Over the past 90 days, Israel is the best performing index, up 20.6%, and Turkey is the worst performing index, down -16.8%. That is a maximum/minimum range of 37.4%. Based on the composite rank, Italy is the hottest market in the world, followed by the US, South Africa, Israel, Canada and Spain,” according to Accuvest Global Advisors, a California-based advisory firm that serves as the sub-advisor to Accuvest Global Opportunities ETF (NYSEArca: ACCU) and the Accuvest Global Long Short ETF (NYSEArca: AGLS).

The two Israel ETFs – the iShares MSCI Israel Capped ETF (NYSEArca: EIS) and the Market Vectors Israel ETF (NYSEArca: ISRA) – have been solid performers over the past 90 days. Although some global investors have been underweight Israeli equities due to the country’s slight representation in major developed markets indices, they are missing out on a high-flying equity market. [Illuminating Israel ETFs]

Over the past three months, both EIS and ISRA are up more than 10% while the S&P 500 is up less than 6% and the iShares MSCI ACWI ETF (NasdaqGM: ACWI) is up less than 5%.

Showing Page 1 of 2