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

 

# Countries In Review: December 2020

 

 

There were few bright spots for country ETFs during October.



 

 

 

 

 [![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)

 Dec 01, 2020

 Edited by: Heather Bell

 

 

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Country ETFs had a few bright spots in October, most notably the [**Global X MSCI Nigeria ETF (NGE)**](/NGE), which was up an impressive 19.96% for the month. It was followed distantly by the [**iShares MSCI Indonesia ETF (EIDO)**](/EIDO), up 5.85%; and the [**iShares MSCI Philippines ETF (EPHE)**](/EPHE), up 5.64%. On the downside, the [**iShares MSCI Poland ETF (EPOL)**](/EPOL) fell 15.43%, the [**Global X MSCI Greece ETF (GREK)**](/GREK) declined 10.44% and the [**iShares MSCI Turkey ETF (TUR)**](/TUR) dropped by 10.22%. When it comes to flows, the [**SPDR S&amp;P 500 ETF Trust (SPY)**](/SPY) hemorrhaged $10 billion, the [**iShares MSCI Germany ETF (EWG)**](/EWG) lost a far less dramatic $332 million and the [**iShares MSCI Spain ETF (EWP)**](/EWP) saw outflows of just $34.8 million. The inflows were less stark and less dispersed, with the [**iShares MSCI Japan ETF (EWJ)**](/EWJ) gaining $647.6 million, the [**iShares MSCI Taiwan ETF (EWT)**](/EWT) pulling in $113.4 million and the [**iShares MSCI Australia ETF (EWA)**](/EWA) adding $111.5 million.

[![Countries](/sites/default/files/images/Magazines/ETF%20Report/2020/12/CountriesDecemberFig1.jpg)](/sites/default/files/images/Magazines/ETF%20Report/2020/12/CountriesDecemberFig1b.jpg)

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



![](/sites/default/files/images/Magazines/ETF%20Report/2020/12/CountriesDecemberFig2.jpg)

*Index Data Source: MSCI.  
 Sources: Bloomberg and FactSet.  
 Data from 9/30/2020 to 10/31/2020.*

*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) 

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

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

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

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