PIN’s largest sector allocation is an almost 26% weight to energy. A resurgent rupee helps on that front because India imports the bulk of its domestic energy needs. India’s benchmark Sensex hit a record high Friday. Although PIN is not a Sensex tracking ETF, the fund’s ability to be reflective of the Indian benchmark is important and legitimate.
At the end of last year, financial services, energy and technology names represented half of the Sensex. Those sectors combine for over 56% of PIN’s weight.
With PIN’s 2014 gain approaching 22%, some investors may wonder if it, and other India ETFs for that matter, can deliver additional upside. Consider this: PIN would need to surge another 29% to reclaim its 2011 high and another 32% to get back to its all-time high.
Some investors think more gains are possible. Although some India ETFs have struggled to attract new capital this year, PIN has brought in $14.5 million. [Will Investors Return to India ETFs After Modi Win?]
In just the past week, PIN has attracted $15.5 million, ranking as the sixth-best PowerShares ETF for inflows over that time, according to issuer data.
PowerShares India Portfolio
