Best And Worst ETFs Of The Week Amid Euro Meltdown
The stock market experienced a volatile week of trading with the SPDR S&P 500 ETF (NYSE: SPY) finishing down 1 percent as investors fretted over a number of economic threats. The combination of a strong U.S. dollar index, lower oil prices, and concerns over changes to Federal Reserve monetary policy are just some of the concerns looming over stocks at this juncture.
Nonetheless, the most talked about trade of the week has certainly been the collapse in the CurrencyShares Euro Trust (NYSE: FXE). This week's meltdown in the euro currency has coincided with a new 12-year lows versus the U.S. dollar as money flees the uncertainty of the European Central Bank quantitative easing efforts.
The following ETFs represent a sample of the best- and worst-performing funds over the last five trading sessions.
BEST: China A Shares
China A share stocks had a solid week that boosted the PowerShares China A-Share Portfolio (NYSE: CHNA) more than 6 percent higher. This interesting fund uses quantitative, rules-based criteria to provide exposure to SGX FTSE China A50 Index futures contracts.
CHNA only has $9 million in total assets and its unique structure may be a point of hesitation for some investors that would prefer to own a basket of individual securities rather than futures contracts. However, there has been a noticeable uptick in demand for coveted China A share equities given the relaxed standards for international investors to enter this market.
The Deutsche X-trackers Harvest CSI 300 China A-Shares ETF (NYSE: ASHR) is another popular ETF tracking the 300 largest and most liquid A share stocks.
WORST: Brazil Stocks
Brazilian stocks experienced another drubbing this week as this market continues to lead Latin America on the downside. The iShares MSCI Brazil Capped ETF (NYSE: EWZ) lost nearly 9 percent this week as currency troubles and economic weakness weigh on this country.
EWZ has over $3 billion dedicated to 72 large and mid-cap companies in Brazil, which is a key emerging market nation with heavy ties to commodity prices. This ETF has lost 20 percent since the beginning of the year and is now sitting near multi-year lows.
Other hard-hit ETFs in this category include the small company equivalent iShares MSCI Brazil Small Cap ETF (NYSE: EWZS).
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