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EWD Is Going Through A Weak Patch But Is Exposed To A Structurally Sound Economy
The ~$560m worth iShares MSCI Sweden ETF (NYSEARCA:EWD) is one of the oldest European themed ETFs around (a trading history
iShares MSCI Sweden ETF - A Quality ETF Which Is Now Attractively Valued
Summary
- Structurally, there's a lot to admire about Sweden.
- The Swedish central bank may have to abandon its dovish policy ahead of schedule and this could aid the Krone which looks relatively oversold.
- Russia and Ukraine account for less than 2% of Swedish imports and exports.
- EWD has had a difficult 2022 (down 26% YTD), but I'd like to believe that most of the risks are largely priced in at this price point.
- EWD offers a compelling dividend yield, and forward valuations are cheap compared to other regional peers.
Investment research, primarily oriented towards uncelebrated/under-covered stocks and ETFs, across North America, Europe and Asia. Seeks to combine both fundamental and technical disciplines while making an investment/trading proposition.
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