The pound has been the worst performing asset since the U.K.’s decision to leave the E.U., and the majority of analysts who’ve changed their forecasts since the referendum results are now projecting the currency to remain depressed.
Related: 10 ETFs Hit the Hardest in ‘Brexit’ Fallout
Aside from being the first ETF to trade in the U.S. that acts as a proxy for the FTSE 100, UK has other advantages, including a dividend yield that is well above that of the S&P 500.
“As of June 30, the FTSE 100’s yield was 3.84%,” according to TheStreet.com. “I’m watching the S&P 500 blow through all-time highs on a daily basis — and blow through 18.0x this year’s estimated earnings per share — and thinking this has to correct itself soon and there has to be more value elsewhere. I believe the FTSE 100 is one of those places.”