After being punished last year on speculation that now President Donald Trump could win the 2016 presidential election, the iShares MSCI Mexico Capped ETF (NYSEArca: EWW) is rebounding in earnest this year.

EWW, the largest Mexico ETF trading in the U.S., is higher by more than 9% year-to-date and has surged almost 7% over the past month.

With the peso also sliding in the wake of Trump’s win, the Mexico’s central bank could move forward with more rate hikes to stem the currency’s slide.

Although Mexico’s central bank said the first rate hike earlier this year was not the start of a new tightening cycle, the central bank surprised global investors last month when it boosted borrowing costs by 50 basis points to 4.75%, which is good for the country’s highest interest rate since 2009.

However, some investors believe Mexican stocks still offer value, particularly for investors willing to be patient with EWW.

Showing Page 1 of 2