Countries In Review: September 2019

July was mostly uninspiring for country ETFs, with more funds in negative territory than positive. The top performer was the iShares MSCI Turkey ETF (TUR), which was up 9.76%, followed by the iShares MSCI UAE ETF (UAE) and the iShares MSCI Belgium ETF (EWK), up 7.97% and 3.81%, respectively. The worst-performing ETF was the Global X MSCI Nigeria ETF (NGE), down 9.07%, while the iShares MSCI South Korea ETF (EWY) was down 6.43% and the Global X MSCI Pakistan ETF (PAK) was down 5.37%. In terms of flows, the behemoth SPDR S&P 500 ETF Trust (SPY) stole the show, with a gain of $5.7 billion. Other than SPY, though, the flows for country ETFs were pretty muted. The iShares MSCI Japan ETF (EWJ) claimed the No. 2 spot, with a gain of just $148.3 million, while the iShares MSCI France ETF (EWQ) was in third place, with a gain of $97.7 million. The iShares China Large-Cap ETF (FXI) had the most outflows, with a loss of $355.1 million, followed by a $220.8 million loss for the iShares MSCI Hong Kong ETF (EWH) and a $121.1 million loss for EWY.

Index Data Source: MSCI.
Sources: Bloomberg and FactSet.
Data from 06/28/2019 to 07/31/2019.

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.