These 3 Debt-Burdened Nations Lead 2023's Best Country ETFs, Surpassing Nasdaq 100

Author: Piero Cingari | June 27, 2023 12:32pm

The U.S. stock market wasn’t the only one to rally in 2023, and many U.S.-based investors would have found it beneficial to diversify their portfolios with global stocks and ETFs from roaring emerging market economies.

Venturing thousands of miles south of the American continent and crossing the Atlantic, three stock market indexes emerged as standout performers, surpassing not only the S&P 500 represented by the SPDR S&P 500 ETF Trust (NYSE:SPY), which gained 14% so far this year, but also the tech-dominated Nasdaq 100 represented by the Invesco QQQ Trust (NASDAQ:QQQ), which achieved its best half-year performance with a remarkable 34% year-to-date rally.

Benzinga delved into the top-performing Country ETFs for 2023, evaluating their returns and their respective best-performing stocks. It is essential for U.S.-based investors to note that although these ETFs trade in U.S. dollars on U.S. exchanges, they are not currency hedged. Hence, their performance is exposed to local currency’s fluctuations relative to the U.S. dollar.

Top Performing Country ETFs For 2023

5) iShares MSCI Poland ETF (NYSE:EPOL)

• Description: The EPOL ETF tracks the performance of Polish companies, providing exposure to the Polish stock market by replicating the MSCI Poland IMI 25/50 Index. The fund invests at least 80% of its total assets in the securities of the underlying index and in American Depositary Receipts (“ADRs”) and Global Depositary Receipts (“GDRs”).
• Year-to-date performance (as of June 27): 23%
• Quarter-to-date performance: 23%
• Local currency performance against USD (year to date): 8%
• Best-performing stocks (ytd): Santander Bank Polska S.A. (OTC:BKZHF) (+48.9%), Grupa Pracuj S.A. (+38%).

4) iShares MSCI Mexico ETF (NYSE:EWW)

• Description: The EWW ETF offers exposure to the Mexican stock market, allowing investors to participate in the performance of Mexican companies by replicating the MSCI Mexico IMI 25/50 Index. The fund invests at least 80% of its total assets in the securities of the underlying index and in ADRs and GDRs.
• Year-to-date performance (as of June 27): 28%
• Quarter-to-date performance: 5.7%
• Local currency performance versus USD (ytd): 14%
• Best-performing stocks (ytd): Alsea, S.A.B. de C.V. (OTC:ALSSF) (+56%), CEMEX, S.A.B. de C.V. (NYSE:CX) (+50%)

Read also: 5 Best Performing Mutual Funds Right Now

3) Global X MSCI Greece ETF (NYSE:GREK)

• Description: The GREK ETF tracks the Greek stock market, providing investors with access to Greek companies by replicating the MSCI All Greece Select 25/50 Index. The fund invests at least 80% of its total assets in the securities of the underlying index and in ADRs and GDRs.
• Year-to-date performance (as of June 27): 35%
• Quarter-to-date performance: 18.7%
• Local currency performance versus USD (ytd): 3%
• Best-performing stocks (ytd): Aegean Airlines (OTC:AEGN) (+96%), Piraeus Financial Holdings (OTC:BPIRY) (+86%)

2) Global X MSCI Argentina ETF (NYSE:ARGT)

• Description: The ARGT ETF allows investors to gain exposure to the Argentine stock market by replicating the MSCI All Argentina 25/50 Index. The fund invests at least 80% of its total assets in the securities of the underlying index and in ADRs and GDRs.
• Year-to-date performance (as of June 27): 35%
• Quarter-to-date performance: 17.4%
• Local currency performance versus USD (ytd): -30%
• Best-performing stocks (ytd): Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) (+100%), IRSA Inversiones y Representaciones Sociedad Anónima (NYSE:IRS) (+85%)

1) Global X MSCI Nigeria ETF (NYSE:NGE)

• Description: The NGE ETF focuses on the Nigerian stock market, offering investors access to Nigerian companies by replicating the MSCI All Argentina 25/50 Index. The fund invests at least 80% of its total assets in the securities of the underlying index and in ADRs and GDRs.
• Year-to-date performance (as of June 27): 41%
• Quarter-to-date performance: 18.3%
• Local currency performance versus USD (ytd): -42%
• Best-performing stocks (ytd): Transnational Corporation of Nigeria Plc (+203%), Access Holdings Plc (+102%)

Country ETF	% Return (year to date)	% Return (quarter to date)
Global X MSCI Nigeria ETF	40.9	18.3
Global X MSCI Greece ETF	35.3	18.7
Global X MSCI Argentina ETF	34.6	16.3
iShares MSCI Mexico ETF	27.8	5.7
iShares MSCI Poland ETF	23.2	23
iShares MSCI Ireland ETF ARCA: EIRL)	23.1	2.7
iShares MSCI Spain ETF (NYSE:EWP)	18.4	2.7
iShares MSCI Italy ETF (NYSE:EWI)	17.9	4.5
iShares MSCI Taiwan ETF (NYSE:EWT)	17.7	4.3
iShares MSCI Brazil ETF (NYSE:EWZ)	17.3	19.9

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Posted In: AEGN ALSSF ARGT BKZHF BPIRY CX EDN EPOL EWI EWP EWT EWW EWZ GREK IRS MELI NGE QQQ SPY