iShares Malaysia (EWM) gained 1.9% to recoup more than half its 2.9% loss two weeks ago. It is now up over 33% on the year.
iShares S&P 500 (IVV) gained 1.5%, increasing its year-to-date return to 8.6%.
Although the S&P 500 is trailing the performance of other benchmarks and the 20%-plus returns of some country funds, it continues to outperform funds in Northeast Asia, except of course for S. Korea, which climbed 4.1% last week and is now up nearly 20% for the year.
iShares Japan (EWJ), which has been a laggard most of the year and especially since late February, posted the second best return among the funds surveyed, gaining 2.8% last week and now up 3.3% in '07.
See the chart below for last week's results. There are two sets of returns for each ETF: the past week [light blue] and year-to-date [purple].
The bars for the iShares S&P 500 index (IVV) are colored differently for comparative purposes.
Click to enlarge chart
Disclosure: The author does not own shares of any funds mentioned in this article.
Here is a list of the relevant ETFs and their tickers.