## [# Argentina ETF Surges 18% After Milei’s Party Wins Big In Midterms](/sections/features/argentina-etf-surges-18-after-mileis-party-wins-big-midterms)
# Argentina ETF Surges 18% After Milei’s Party Wins Big In Midterms
Argentina’s markets roared back after President Javier Milei’s party scored a decisive midterm win, sending ARGT up 18%.
[](/authors/sumit-roy)
[By Sumit Roy ](/authors/sumit-roy)
Oct 27, 2025
Edited by: ETF.com Staff
[ + Follow ](/etf/login)
Share Email LinkedIn Facebook X (Twitter)
googletag.cmd.push(function() {
googletag.display('js-dfp-tag-article_page_302x26');
});
Loading
The [**Global X MSCI Argentina ETF (ARGT)**](/argt) soared 18.5% on Monday after President Javier Milei’s libertarian party posted a strong showing in Argentina’s midterm elections on Sunday.
The surge erased a six-month drawdown in the fund, which had tumbled more than 22% at its early-October lows amid worries that Milei’s party would underperform and see its ambitious reform agenda stall. ARGT is now slightly positive for 2025.
## Election Results Boost Markets
Milei’s party captured more than 40% of the national vote and, along with its allies, is projected to hold roughly that share of seats in the lower house—enough to give the president veto power that opponents can’t override. The outcome strengthens his hand to push ahead with market-friendly policies such as privatizations, fiscal tightening and deregulation.
Argentina’s peso and sovereign dollar bonds also rallied sharply on the news, reversing much of this year’s losses that followed the opposition’s gains in Buenos Aires local races. Those earlier results had sparked concerns Milei’s party would struggle in the midterms, triggering capital flight and currency weakness.
That fear created a vicious cycle ahead of the election, where falling markets made Milei’s chances look weaker, which in turn deepened the sell-off as investors braced for a potential opposition win that could reverse his reforms. Each new wave of peso and bond losses fed political pessimism, and the pessimism fed more selling.
The United States extended roughly $20 billion in support to Argentina this month through swap lines, direct peso purchases and other assistance. That backstop helped break the cycle, steadying the currency and restoring investor confidence heading into the vote.
googletag.cmd.push(function() {
googletag.display('js-dfp-tag-in_article_unit');
});
## ARGT Outflows
Despite Monday’s rally, investors have been net sellers of ARGT for most of 2025, pulling $172 million year-to-date and $333 million since June. The fund manages about $700 million in assets and has more than doubled in value since Milei’s presidential election in late 2023.
Whether the latest surge leads to fresh inflows and new all-time highs will depend on Milei’s ability to cement reforms and maintain credibility with markets.
Inflation, which was running in the triple digits when Milei was elected, has fallen to around 30%, and the government recently posted its first budget surplus in more than a decade. Key steps have included cutting regulations, shrinking public payrolls and moving to sell state-owned enterprises.
Still, structural challenges remain. Economists warn the peso may still be overvalued and could require another devaluation to sustain competitiveness. And unless Milei’s reforms are institutionalized, future governments could reverse course.
While Argentina’s long-running pattern of boom-and-bust remains fresh in investors’ minds, for now, markets are cheering Milei’s renewed mandate and the prospect of continued reforms.
[ + Follow ](/etf/login)
[ Sumit Roy Senior ETF Analyst ](/authors/sumit-roy)
Sumit Roy is the senior ETF analyst for etf.com and author of (Don't) Invest Like a Pro. He creates a variety of content for the platform, including… [View Bio](/authors/sumit-roy)
Related Topics [Argentina](http://www.etf.com/topics/argentina)
[Latin America](http://www.etf.com/topics/latin-america)
[Emerging Markets](http://www.etf.com/topics/emerging-markets)