INDA holds almost 80 stocks, 23.6% of which hail from the financial services sector. A quarter of the ETF’s combined weight is allocated to software and consumer discretionary companies. Energy and materials names combine for 22% of the fund’s roster.
“Investors pulled $68 million from the fund on Aug. 31 as escalating tensions between North Korea and the US sparked a risk-off tone. The S&P BSE Sensex Index has risen 19 percent this year and trades at 18.6 times projected earnings. India’s gross domestic product rose 5.7 percent in April-June from a year earlier, missing economists’ estimates,” reports Bloomberg.
More aggressive investors who are confident about India may even look to a leveraged bullish play on Indian markets. The Direxion Daily India Bull 3X Shares (NYSEArca: INDL), which takes the 3x or 300% daily performance of Indian stocks.
For more information on Indian markets, visit our India category.