German markets are once again in focus today with the largest equity based ETF there EWG (iShares MSCI Germany, Expense Ratio 0.48%) rallying an impressive 2.2% today on impressive late week inflows of >$400 million.
Given the >$6.1 billion asset base in the fund, the recent flows are not insignificant.
The aptly named HEWG (iShares Currency Hedged MSCI Germany, Expense Ratio 0.53%) has grown impressively amid the appetite for German equities as well, growing to a >$1 billion fund at the moment. German equities are not alone in representation in the ETF market for investors to allocate to, as several German Bond products have made their ways to the marketplace inside of the last several years.
GGOV (ProShares German Sovereign/Sub-Sovereign ETF, Expense Ratio 0.45%) is still relatively unknown despite debuting back in early 2012, as we see only about 300 shares traded daily in the product and a minimal $5.2 million in assets under management.
There are also two products that offer exposure to the Euro-Bund Futures market, BUNL (PowerShares German Bund Futures ETN, Expense Ratio 0.50%) and the three times daily leveraged BUNT (PowerShares 3X German Bund Futures ETN, Expense Ratio 0.95%).
These two funds are far from gigantic, but at the moment BUNT is the larger of the two with$18.2 million in AUM as compared to BUNL’s $9.7 million. In an environment of rising interest in Euro-related ETFs, it is hard to believe that the aforementioned funds will remain small forever.
PowerShares DB 3x German Bond Futures ETN (NYSE Arca: BUNT)
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