EGShares India Infrastructure Index Fund (NYSEArca: INNX)
May gain: 19.5%
Comment: INXX is one of the more hyper-focused India ETFs, but the explanation for why this fund surged last month is simple. Markets are betting Narendra Modi’s victory means India will finally address one of the emerging world’s worst infrastructure problems.
The real test for the ETF will come in the new leader’s ability to enact legitimate reform by convincing local governments to permit new infrastructure projects. INXX also lost more than 6% last week. [India Election Results Could Boost Infrastructure ETF]