These 3 Debt-Burdened Nations Lead 2023’s Best Country ETFs, Surpassing Nasdaq 100 – Global X MSCI Argentina ETF (ARCA:ARGT), iShares Inc iShares MSCI Taiwan ETF (ARCA:EWT), iShares Inc iShares MSCI Mexico ETF (ARCA:EWW), Piraeus Finl Hldgs (OTC:BPIRY), iShares Trust iShares MSCI Poland ETF (ARCA:EPOL), iShares Inc iShares MSCI Brazil ETF (ARCA:EWZ), Santander Bank Polska (OTC:BKZHF), IRSA Inversiones y (NYSE:IRS), Alsea, S.A.B. De (OTC:ALSSF), Global X MSCI Nigeria ETF (ARCA:NGE), Empresa Distribuidora y (NYSE:EDN), Invesco QQQ Trust, Series 1 (NASDAQ:QQQ), Global X MSCI Greece ETF (ARCA:GREK), MercadoLibre (NASDAQ:MELI), Cemex (NYSE:CX), iShares Inc iShares MSCI Italy ETF (ARCA:EWI), SPDR S&P 500 (ARCA:SPY), iShares Inc iShares MSCI Spain ETF (ARCA:EWP)
The U.S. stock market wasn’t the only one to rally in 2023, and many U.S.-based investors would have found it beneficial to diversify their portfolios with global stocks and ETFs from roaring emerging market economies.
Venturing thousands of miles south of the American continent and crossing the Atlantic, three stock market indexes emerged as standout performers, surpassing not only the S&P 500 represented by the SPDR S&P 500 ETF Trust SPY, which gained 14% so far this year, but also the tech-dominated Nasdaq 100 represented by the Invesco QQQ Trust QQQ, which achieved its best half-year performance with a remarkable 34% year-to-date rally.
Benzinga delved into the top-performing Country ETFs for 2023, evaluating their returns and their respective best-performing stocks. It is essential for U.S.-based investors to note that although these ETFs trade in U.S. dollars on U.S. exchanges, they are not currency hedged. Hence, their performance is exposed to local currency’s fluctuations relative to the U.S. dollar.
Top Performing Country ETFs For 20235) iShares MSCI Poland ETF EPOL
Description: The EPOL ETF tracks the performance of Polish companies, providing exposure to the Polish stock market by replicating the MSCI Poland IMI 25/50 Index. The fund invests at least 80% of its total assets in the securities of the underlying index and in American Depositary Receipts (“ADRs”) and Global Depositary Receipts (“GDRs”). Year-to-date performance (as of June 27): 23% Quarter-to-date performance: 23% Local currency performance against USD (year to date): 8% Best-performing stocks (ytd): Santander Bank Polska S.A. BKZHF (+48.9%), Grupa Pracuj S.A. (+38%). 4) iShares MSCI Mexico ETF EWW
Description: The EWW ETF offers exposure to the Mexican stock market, allowing investors to participate in the performance of Mexican companies by replicating the MSCI Mexico IMI 25/50 Index. The fund invests at least 80% of its total assets in the securities of the underlying index and in ADRs and GDRs. Year-to-date performance (as of June 27): 28% Quarter-to-date performance: 5.7% Local currency performance versus USD (ytd): 14% Best-performing stocks (ytd): Alsea, S.A.B. de C.V. ALSSF (+56%), CEMEX, S.A.B. de C.V. CX (+50%) Read also: 5 Best Performing Mutual Funds Right Now
3) Global X MSCI Greece ETF GREK
Description: The GREK ETF tracks the Greek stock market, providing investors with access to Greek companies by replicating the MSCI All Greece Select 25/50 Index. The fund invests at least 80% of its total assets in the securities of the underlying index and in ADRs and GDRs. Year-to-date performance (as of June 27): 35% Quarter-to-date performance: 18.7% Local currency performance versus USD (ytd): 3% Best-performing stocks (ytd): Aegean Airlines AEGN (+96%), Piraeus Financial Holdings BPIRY (+86%) 2) Global X MSCI Argentina ETF ARGT
Description: The ARGT ETF allows investors to gain exposure to the Argentine stock market by replicating the MSCI All Argentina 25/50 Index. The fund invests at least 80% of its total assets in the securities of the underlying index and in ADRs and GDRs. Year-to-date performance (as of June 27): 35% Quarter-to-date performance: 17.4% Local currency performance versus USD (ytd): -30% Best-performing stocks (ytd): Empresa Distribuidora y Comercializadora Norte Sociedad Anónima EDN (+100%), IRSA Inversiones y Representaciones Sociedad Anónima IRS (+85%) 1) Global X MSCI Nigeria ETF NGE
Description: The NGE ETF focuses on the Nigerian stock market, offering investors access to Nigerian companies by replicating the MSCI All Argentina 25/50 Index. The fund invests at least 80% of its total assets in the securities of the underlying index and in ADRs and GDRs. Year-to-date performance (as of June 27): 41% Quarter-to-date performance: 18.3% Local currency performance versus USD (ytd): -42% Best-performing stocks (ytd): Transnational Corporation of Nigeria Plc (+203%), Access Holdings Plc (+102%) Country ETF % Return (year to date) % Return (quarter to date) Global X MSCI Nigeria ETF 40.9 18.3 Global X MSCI Greece ETF 35.3 18.7 Global X MSCI Argentina ETF 34.6 16.3 iShares MSCI Mexico ETF 27.8 5.7 iShares MSCI Poland ETF 23.2 23 iShares MSCI Ireland ETF ARCA: EIRL) 23.1 2.7 iShares MSCI Spain ETF EWP 18.4 2.7 iShares MSCI Italy ETF EWI 17.9 4.5 iShares MSCI Taiwan ETF EWT 17.7 4.3 iShares MSCI Brazil ETF EWZ 17.3 19.9 Now Read: It’s A Bear Market FOMO Bubble In Early Stage Of Collapse, Warns Hedge Fund Manager Who Foresaw 2008 Crisis
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