Irish ETF gets new index to track

Never mind a 40% gain YTD, the iShares MSCI Ireland Capped ETF (EIRL) is getting a new underlying index thanks to the shrinking number of eligible stocks trading in Dublin. With more investors and liquidity in London and NYC, the Irish stock exchange has lost a number of key listings over the last few years, bringing the number of stocks in EIRL's tracked index to just 14.

The new index leaves a bit more wiggle room, including companies doing significant business in Ireland, along with those domiciled there, resulting in 24 constituents.

The closed-end New Ireland Fund (IRL) is ahead 35% YTD.

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