Hougan: 10 Great ETFs You Don't Know (Part 1)

April 25, 2014

Forgotten ETF #9: Global X FTSE Greece ETF (GREK | C-54)

AUM: $231M
ER: 0.61 percent

The argument for the Global X FTSE Greece ETF is simple. Greece has been around for a long time, and it’s not going anywhere. If you believe that, you may want to buy in.

After all, the ETF trades at a price-to-earnings ratio of 0.75. That’s not a typo. While the S&P 500 trades at a P/E above 18, GREK trades below 1. No wonder it’s been on a tear recently, with shares up more than 50 percent in the past nine months.

Are there risks? Yessiree. The fund holds an incredibly concentrated portfolio of 21 names, with more than 35 percent of the portfolio in the top three companies alone. Plus, it’s Greece—it’s been about 2,000 years since its economy led the world.

But for the contrarian investor, you could do worse.

For the definitive ETF Analytics report on GREK, click here.

GREK

 

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