Eurozone stocks and the related exchange traded funds have been impressive performers this year. For example, the iShares MSCI EMU ETF (NYSEArca: EZU) and SPDR EURO STOXX 50 (NYSEArca: FEZ) topped the S&P 500 in the first quarter.

While the France election is wrapped up, investors still must consider other sources of European political risk, including the June Brexit poll in the U.K. as well as national elections later this year in Germany and Italy. Germany and Italy are the Eurozone’s largest and third-largest economies, respectively.

“Trading at around 17 times earnings, European companies are priced to move compared to American firms, which are trading at 22 times earnings,” according to ETF Daily News. “Dividend yields also look attractive relative to U.S. stocks. The MSCI Emerging Europe Index, which is most heavily weighted in Russian, Polish and Turkish stocks, currently yields 3.2 percent. The S&P 500 Index, by comparison, yields 2 percent.”

For more information on the European markets, visit our Europe category.