The Citi analysts were also bullish on autos, health care and basic resources, but underweighted oil and gas companies.
The combined consumer discretionary, health care and materials sectors make up 31.4% of HEZU, 30.5% of DBEZ and 35.5% of HEDJ. HEZU and DBEZ both include a 5.2% tilt toward the energy sector, but HEDJ has excluded the sector from its portfolio.
iShares MSCI Europe Financials ETF
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Max Chen contributed to this article.