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Top 10 Eurozone ETFs

|Includes:EIRL, EWD, EWG, EWI, EWK, EWN, EWO, EWP, EWQ, iShares MSCI Eurozone ETF (EZU)


Our goal in this profile is to help investors wade through the many competing ETF offerings available. Using our long experience as an ETF publication, and nearly 40 years in the investment business, we can help select those ETFs that matter and may or may not be repetitive. The result is a more manageable list of issues from which to view and make selections.

There are only 11 current members in the EU (European Union) with only 9 ETFs as single country funds. Not in the union currently are England, Switzerland, Russia and Poland for example and it remains to be seen if they should join. These country ETFs will be maintained in a separate list. Sweden is a country that has elected to opt-out for now as a full member not having joined using the euro currency. Greece and Portugal as of this date do not have a U.S. listed ETF available but we should expect their appearance at some point.

Below is our methodology for ranking the ETFs within the category.


Strong established linked index
Excellent consistent performance and index tracking
Low fee structure
Strong portfolio suitability
Excellent liquidity


Established linked index even if “enhanced”
Good performance or more volatile if “enhanced” index
Average to higher fee structure
Good portfolio suitability or more active management if “enhanced” index
Decent liquidity


Enhanced or seasoned index
Less consistent performance and more volatile
Fees higher than average
Portfolio suitability would need more active trading
Average to below average liquidity


Index is new
Issue is new and needs seasoning
Fees are high
Portfolio suitability also needs seasoning
Liquidity below average

All issues in this list are from iShares which was the original issuer of single country fund ETFs and remains the leader in this particularly as it applies to the EU.

We feature a technical view of conditions from monthly chart views. Simplistically, we recommend longer-term investors stay on the right side of the 12 month simple moving average. When prices are above the moving average, stay long, and when below remain in cash or short. Premium members to the ETF Digest receive added signals when markets become extended such as DeMark triggers to exit overbought/oversold conditions.

For traders and investors wishing to hedge, leveraged and inverse issues are available to utilize from ProShares and Direxion and where available these are noted.


 

#6: iShares MSCI Italy Index Fund (NYSEARCA:EWI

EWI (iShares Italy ETF) follows the MSCI Italy Index. The fund was launched in March 1996. The expense ratio is .54%. AUM equal $ 98 million (down by 40% since July) and average daily trading volume is over 500K shares. As of mid-November 2011 the dividend yield was 3.88% and YTD return was -17.32%.

EWI Top Ten Holdings & Weightings

Data as of November 2011

  1. Eni SpA (ENI): 19.92%
  2. ENEL Ente Nazionale per L'Energ Elet SPA (ENEL): 13.91%
  3. Intesa Sanpaolo SpA (NYSE:ISP): 7.58%
  4. UniCredit SpA (OTCPK:UNCFF): 6.89%
  5. Generali Assicurazioni (NYSE:G): 4.86%
  6. Saipem (SPM): 4.38%
  7. Snam Rete Gas (NYSE:SRG): 4.14%
  8. Telecom Italia SpA (TIT): 3.46%
  9. Fiat Industrial SpA (NYSE:FI): 2.83%
  10. Tenaris SA (NYSE:TEN): 2.78%

 

 

#7: iShares MSCI Spain Index Fund (NYSEARCA:EWP

EWP (iShares Spain ETF) follow the MSCI Spain Index. The fund was launched in March 1996. The expense ratio is .54%. AUM equal $131 million and average daily trading volume is 225K shares. As of mid-November 2011 the annual dividend yield was 5.90% and YTD return was -6.50%.

EWP Top Ten Holdings & Weightings

Data as of November 2011

  1. Telefonica SA (NYSE:TEF): 20.10%
  2. Banco Santander SA (NYSE:SAN): 19.58%
  3. Banco Bilbao Vizcaya Argentaria SA (NYSE:BBVA): 8.48%
  4. Repsol YPF SA (OTCQX:REPYF): 4.89%
  5. Iberdrola SA (IBE): 4.84%
  6. Industria de Diseño Textil,S.A."inditex" (ITX): 4.61%
  7. Abertis Infraestructuras SA (NYSEMKT:ABE): 2.92%
  8. Gas Natural Sdg, S.A. (NYSE:GAS): 2.86%
  9. ACS Actividades de Construccion y Servicios SA (ACS): 2.62%
  10. Banco Popular Espanol (POP): 2.61%

 

 

#8: iShares MSCI Austria Investable Market Index Fund (NYSEARCA:EWO

EWO (iShares Austria ETF) follows the MSCI Austria Investable Index. The fund was launched in March 1996. AUM equal $70 million (down 50% since July 2011) and average daily trading volume is 143K shares. As of mid-November 2011 the annual dividend yield was 3.10% and YTD return -29.10%. It should be noted that Austria serves as one of the major financial centers for Eastern Europe.

EWO Top Ten Holdings & Weightings

Data as of November 2011

  1. Erste Bank der oesterreichischen Sparkassen AG (NYSE:EBS): 12.35%
  2. Omv AG (OTC:OMVJF): 11.60%
  3. Voest-Alpine AG (NYSEARCA:VOE): 8.23%
  4. Telekom Austria AG (TKA): 8.06%
  5. Immofinanz Immobilien Anlagen AG (IIA): 6.60%
  6. Andritz AG (OTCQB:ANDR): 5.27%
  7. Verbund AG (NYSE:VER): 4.49%
  8. Vienna Insurance Group: 4.42%
  9. Raiffeisen Bank International AG (RBI): 4.16%
  10. Wienerberger Baustoffindustrie AG (WIE): 3.92%

 

 

#9: iShares MSCI Belgium Investable Market Index Fund (NYSEARCA:EWK

EWK (iShares Belgium ETF) follows the MSCI Investable Belgium Market Index. The fund was launched in March 1996. The expense ratio is .54%. AUM equal $24 million (down nearly by half since July 2011) with average daily trading volume of 61K shares. As of mid-November 2011 the annual dividend yield was 3.00% and YTD return -10.45%. By fall of 2011 many banks in the financial sector were under heavy ECB pressure to shore up their balance sheets due to debt exposure from PIGS.

EWK Top Ten Holdings & Weightings

Data as of November 2011

  1. Anheuser-Busch InBev SA (OTCPK:AHBIF): 26.38%
  2. Delhaize Group SA (DELB): 6.40%
  3. Groupe Bruxelles Lambert (GBLB): 6.19%
  4. Solvay SA (SOLB): 5.89%
  5. Belgacom SA (BELG): 5.15%
  6. UCB SA (UCB): 4.77%
  7. Colruyt Sa (COLR): 4.20%
  8. Umicore (UMI): 4.11%
  9. Ageas NV (AGS): 3.69%
  10. KBC Group SA/NV (KBC): 3.51%

 

 

#10: iShares MSCI Ireland Capped Investable Market Index Fund (NYSEARCA:EIRL

EIRL (iShares Ireland ETF) follows the MSCI Ireland Investable Market 25/50 Index. The fund was launched in May 2010. The expense ratio is .53%. AUM equal $7.5 million which is attributable to its more recent launch and current uncertainties. Average daily trading volume is 9K shares. As of late July 2011 the annual dividend yield was 3.80% and YTD return of -3.10%.

EIRL Top Ten Holdings & Weightings

Data as of November 2011

  1. CRH Plc (NYSE:CRH): 22.04%
  2. Elan Corp PLC (DRX): 12.14%
  3. Kerry Group PLC (KRZ): 11.45%
  4. Paddy Power PLC (PLS): 5.05%
  5. Ryanair Holdings PLC ADR (NASDAQ:RYAAY): 4.61%
  6. Dcc PLC (DCC): 4.60%
  7. Kingspan Group PLC (KRX): 4.47%
  8. C&C Group (NYSEARCA:GCC): 4.08%
  9. Bank of Ireland (Governor & Company of) (BIR): 3.90%
  10. Smurfit Kappa Group PLC (SK3): 3.76%

 

 

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Stocks: EZU, EWG, EWQ, EWD, EWN, EWI, EWP, EWO, EWK, EIRL