##  [# Countries In Review: June 2020](/sections/etf-report-departments/countries-review-june-2020) 

 

# Countries In Review: June 2020

 

 

Country ETFs saw a turnaround during April.



 

 

 

 

 [![HeatherBell_green_bg](/sites/default/files/styles/author_image_icon/public/2023-03/heather2.png?itok=5J9vBlda)](/contributors/heather-bell) 

[By Heather Bell](/contributors/heather-bell)

 Jun 01, 2020

 Edited by: Heather Bell

 

 

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April was a strong month for country ETFs, with every fund springing back from March’s dismal numbers. The top performers were all from emerging and frontier markets, led by the [**Global X MSCI Pakistan ETF (PAK)**](/PAK), which was up 22.48%. It was followed by the [**VanEck Vectors Vietnam ETF (VNM)**](/VNM) and the [**VanEck Vectors Russia ETF (RSX)**](/RSX), up 19.25% and 13.67%, respectively. Even the worst performers were still in positive territory, with the [**iShares MSCI Malaysia ETF (EWM)**](/EWM) eking out a 1.51% return, the [**iShares MSCI Italy ETF (EWI)**](/EWI) increasing by 1.83% and the [**iShares MSCI Spain ETF (EWP)**](/EWP) up 2.21%. Flows were a little more ambiguous, with the [**SPDR S&amp;P 500 ETF Trust (SPY)**](/SPY) hemorrhaging $5.4 billion, the [**iShares MSCI India ETF (INDA)**](/INDA) losing $204.6 million and the [**iShares MSCI Brazil ETF (EWZ)**](/EWZ) bleeding $201.1 million. Inflows were led by the [**iShares MSCI Switzerland ETF (EWL)**](/EWL), which gained $246.3 million. Meanwhile, the [**iShares MSCI Germany ETF (EWG)**](/EWG) claimed the No. 2 spot, with a gain of $156.9 million and the [**iShares MSCI Taiwan ETF (EWT)**](/EWT) pulled in $70.2 million.

[![Countries](/sites/default/files/images/Magazines/ETF%20Report/2020/06/CountriesJuneFig1.jpg)](/sites/default/files/images/Magazines/ETF%20Report/2020/06/CountriesJuneFig1b.jpg)

*For a larger view, please click on the image above.*



![](/sites/default/files/images/Magazines/ETF%20Report/2020/06/CountriesJuneFig2.jpg)

*Index Data Source: MSCI.  
 Sources: Bloomberg and FactSet.  
 Data from 4/30/2019 to 4/30/2020.*

*Note: This list intends to capture the returns of most liquid ETFs tracking individual countries around the world. It does not capture every country in the MSCI All Country World Index.*





 

 

 [ Heather Bell ](/contributors/heather-bell) 

 

 

  Heather Bell is a former managing editor of etf.com. She has also held editorial positions at Dow Jones Indexes and Lehman Brothers. Bell is a…   [View Bio](/contributors/heather-bell)

 



 

 


 Related Topics  [Asia-Pacific](http://www.etf.com/topics/asia-pacific) 

 [Blackrock](http://www.etf.com/topics/blackrock) 

 [Brazil](http://www.etf.com/topics/brazil) 

 [Broad-based](http://www.etf.com/topics/broad-based) 

 [Emerging Markets](http://www.etf.com/topics/emerging-markets)