Indonesia Equity ETFs Shine On Election

July 11, 2014

A new president fuels market enthusiasm in Southeast Asia’s largest economy.

A group of Indonesia-focused equity ETFs were among the week’s best-performing funds following a presidential election in that country that, by preliminary counts, points to a new leader who could be Indonesia’s first president to have no links to Suharto—the last dictator.

Media reports suggest that Joko Widodo looks to have won the election, beating former Suharto-era general Prabowo Subianto to the post—news the markets welcomed. While it remains to be decided whether the unofficial count will hold, and a lot of the market’s enthusiasm will hinge on what kind of economic team is put in place, Indonesian equities did well in the past five days ended Thursday, July 10.

The Market Vectors Indonesia Small Cap ETF (IDXJ | F-63), the iShares MSCI Indonesia (EIDO | B-98) and the Market Vectors Indonesia (IDX | C-78) rallied between 6.7 and 7.8 percent in the past week.

On the flip side, the worst-performing ETF was the Global X FTSE Portugal 20 ETF (PGAL | D-69)—the only fund to focus exclusively on Portuguese equities.

PGAL slipped 9.76 percent in the past week. News that one of Portugal’s largest lenders was delaying debt payments sent shockwaves through the markets both in Europe and here. At the core were fears that the ongoing recovery from the financial crisis globally is still too tentative to withstand another debt crisis blow.

Top 10 Weekly Performers, Excluding Leverage/Inverse Funds and <1,000 Shares Traded

Ticker Name Weekly Performance Weekly Volume AUM ($, mm)
QDEM Market Vectors MSCI Emerging Markets Quality Dividend 10.38% 1,073 5.42
EEH ELEMENTS Linked to SPECTRUM Large Cap U.S. Momentum ETN 9.19% 1,097 0.94
IDXJ Market Vectors Indonesia Small Cap 7.75% 274,738 7.16
EIDO iShares MSCI Indonesia 7.44% 5,025,504 530.33
IDX Market Vectors Indonesia 6.69% 1,061,592 234.85
QAT iShares MSCI Qatar Capped 5.62% 34,136 33.68
UBM ETRACS CMCI Industrial Metals Total Return ETN 5.29% 2,400 4.84
GDXJ Market Vectors Junior Gold Miners 5.08% 36,651,470 2,490.27
HEVY iPath Pure Beta Industrial Metals ETN 4.74% 1,193 0.69
GLDX Global X Gold Explorers 4.63% 278,847 53.81

Bottom 10 Weekly Performers, Excluding Leverage/Inverse Funds and <1,000 Shares Traded

Ticker Name Weekly Performance Weekly Volume AUM ($, mm)
PGAL Global X FTSE Portugal 20 -9.76% 420,633 22.48
FUE ELEMENTS MLCX Biofuels Total Return ETN -9.69% 21,849 0.96
GRN iPath Global Carbon ETN -9.23% 5,082 1.76
SCIF Market Vectors India Small-Cap -9.04% 1,222,542 402.24
SCIN EGShares India Small Cap -8.72% 338,380 32.02
CTNN iPath Pure Beta Cotton ETN -7.25% 10,398 2.04
XBI SPDR S&P Biotech -7.07% 2,479,233 1,114.38
GREK Global X FTSE Greece 20 -6.83% 1,757,375 243.80
INXX EGShares India Infrastructure -6.73% 476,456 63.81
GAZ iPath Dow Jones-UBS Natural Gas Total Return ETN -6.62% 213,367 26.36

Disclaimer: All data as of 6 a.m. Eastern time the date the article is published. Data is believed to be accurate; however, transient market data is often subject to subsequent revision and correction by the exchanges.

Find your next ETF

Reset All