The Austria country-specific ETF advanced Monday, breaking toward new highs, as Austria’s new coalition government, which includes the far-right Freedom Party, was sworn in.

The iShares MSCI Austria Capped ETF (NYSEArca: EWO), the only ETF dedicated to Austrian equities, increased 3.8% Monday. EWO has also been among the best performing single country-specific ETFs this year, rising 43.7% year-to-date.

Austria’s far-right Freedom Party was sworn in Monday as part of a new coalition that pledged to stop illegal immigration, cut taxes, reduce government bureaucracy, add new national climate and energy strategy, and resist EU centralization, Agence France-Presse reports.

FPOe chief Heinz-Christian Strache has claimed that Islam “has no place in Europe” and called German Chancellor Angela Merkel “the most dangerous woman in Europe” for her open-door refugee policy. Strache pledged the government will slash benefits for asylum-seekers ahead.