Most Oversold ETFs: Europe Reigns

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 |  Includes: DWM, EFA, EFV, EWA, EWI, EWK, EWL, EWM, EWN, EWO, EWP, EWQ, EWU, EZU, FEU, FEZ, FXB, FXE, IEV, INP, KBE, KIE, MOO, PGF, PID, PPH, UDN, VEU, VGK, XLE
by: Bespoke Investment Group

Below we highlight the 30 most oversold ETFs out of the 200 or so key ones we track across all asset classes. It's no secret that Europe has struggled recently, but investors may be surprised to see just how much many of these countries have sold off.

Of the 30 ETFs shown, the 9 most oversold all come from the European region, and 18 have some sort of relationship with Europe. Spain (NYSEARCA:EWP) is the most oversold and is also down 28.03% year to date. Italy (NYSEARCA:EWI) ranks 2nd, followed by Euro Stoxx 50 (NYSEARCA:FEZ), the Netherlands (NYSEARCA:EWN), and Belgium (NYSEARCA:EWK).

The India ETN (NYSEARCA:INP) is the most oversold non-European security. India has done well in 2010, but it has sold off quite a bit from its recent highs. The pharmaceuticals ETF (NYSEARCA:PPH) is the most oversold US-related ETF. Just 5 other US-related ETFs are on the list -- Financial preferreds (NYSEARCA:PGF), utilities (NYSEARCA:XLU), banks (NYSEARCA:KBE), insurance (NYSEARCA:KIE), and agribusiness (NYSEARCA:MOO).

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