EWW is struggling while some other single-country Latin America ETFs are roaring higher. For example, the iShares MSCI All Peru Capped ETF (NYSEArca: EPU) is this year’s best-performing single-country ETF while the Global X MSCI Argentina ETF (NYSEArca: ARGT) tracks stocks in one of the world’s best-performing equity markets. The iShares MSCI Chile Capped ETF (NYSEArca: ECH) has also been an impressive performer.

Related: The Best LatAm ETFs

“Headwinds to growth include weakness in the manufacturing sectors linked to the US economy and a deceleration in domestic consumption, which as of late has been the main engine of growth for the economy. We have revised our GDP growth forecast to 2.1% y-o-y in 2016 (from 2.8%) and to 2.5% y-o-y in 2017 (from 3.0%). See Global Economic Monthly – Politics in the front seat, published on 9 August 2016,” said Nomura in the note posted by Barron’s.

For more information on the Mexico ETF market, visit our Mexico category.

iShares MSCI Mexico Capped ETF