##  [# Countries In Review: July August 2020](/sections/etf-report-departments/countries-review-july-august-2020) 

 

# Countries In Review: July August 2020

 

 

Country ETFs had a strong month.



 

 

 

 

 [![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)

 Jul 31, 2020

 Edited by: Heather Bell

 

 

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June saw most country ETFs record positive performance. The [iShares MSCI New Zealand ETF (ENZL)](/ENZL) led the way, with a return of 11.07%, while the [iShares MSCI Hong Kong ETF (EWH)](/EWH) was up 9.81% and the [Global X MSCI Argentina ETF (ARGT)](/ARGT) increased by 9.67%. At the other end of the spectrum, the [Global X MSCI Nigeria ETF (NGE)](/NGE) was down 6.8%; followed by the [Global X MSCI Pakistan ETF (PAK)](/PAK), which decreased 3.19%; and the [VanEck Vectors Vietnam ETF (VNM)](/VNM), down 1.9%. In terms of flows, the [iShares MSCI Germany ETF (EWG)](/EWG) pulled in the most of any ETF in the group, at $326.8 million; while the [iShares MSCI Japan ETF (EWJ)](/EWJ) gained $124.9 million; and the [iShares MSCI South Africa ETF (EZA)](/EZA) pulled in $91.3 million. The [iShares India ETF (INDA)](/INDA) led the category’s outflows, with a loss of $281.2 million; while the [iShares China Large-Cap ETF (FXI)](/FXI) lost $106.2 million; and the [iShares MSCI Australia ETF (EWA)](/EWA) decreased by $42.5 million.

[![Countries](/sites/default/files/images/Magazines/ETF%20Report/2020/07/CountriesJulyAugustFig1.jpg)](/sites/default/files/images/Magazines/ETF%20Report/2020/07/CountriesJulyAugustFig1b.jpg)

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



![](/sites/default/files/images/Magazines/ETF%20Report/2020/07/CountriesJulyAugustFig2.jpg)

*Index Data Source: MSCI.  
 Sources: Bloomberg and FactSet.  
 Data from 5/31/2020 to 6/30/2020.*

*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  [Argentina](http://www.etf.com/topics/argentina) 

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

 [Australia](http://www.etf.com/topics/australia) 

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

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