March was a mostly positive month for country ETFs. The iShares MSCI Saudi Arabia ETF (KSA) led the way, with a gain of 11.79%, followed by the iShares MSCI Chile ETF (ECH) and the iShares MSCI Mexico ETF (EWW), which were up 9.04% and 7.8%, respectively. At the other end of the spectrum, the iShares MSCI Turkey ETF (TUR) lost 13.96%, while the iShares MSCI Peru ETF (EPU) fell 8.3% and the iShares China Large-Cap ETF (FXI) declined 4.91%. When it comes to flows, FXI actually pulled in more than any other country ETF, gaining $355 million, while the iShares MSCI Canada ETF (EWC) rose by $338.9 million and the iShares MSCI United Kingdom ETF (EWU) drew in $255.2 million. The iShares MSCI Japan ETF (EWJ) led outflows with a $584.3 million loss. It was followed by the iShares MSCI Hong Kong ETF (EWH), which lost $206.8 million, and the SPDR S&P 500 ETF Trust (SPY), which decreased by $160.1 million. For a larger view, please click on the image above. 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.