Related: Greece ETF Goes Big in 2017, Up 26.4% YTD

Eurozone and emerging markets stocks are attractively valued relative to the U.S. and those discounts are evident with some of GREK’s holdings. That theme has been prompting investors to revisit the lone ETF trading in the U.S. that is dedicated to Greek stocks. Importantly, Greece’s finances are improving.

“Public finances are improving. In 2016 Greece recorded a primary surplus of 3.9% of GDP, well above the ESM programme target of 0.5%, owing to higher than budgeted revenues and expenditure restraint,” said Fitch. “We expect the government to record an average primary surplus of 2.8% of GDP over 2017-19. Assuming nominal GDP growth of 3.4%, general government gross debt is forecast to fall to 169.5% of GDP in 2019. The government has already legislated fiscal measures that are projected to yield 3% of GDP through 2018, of which just above two-thirds will come from pension and income tax reform. Full implementation may face political constraints, but there is a contingent fiscal mechanism to retrospectively trigger further measures if a fiscal target is missed.”

Year-to-date, investors have added $68.6 million to GREK.

For more information on the Greek markets, visit our Greece category.