To keep it simple, we focused solely on what use the be the WEBS and are now the iShares. That might not be fair to other ETF and fund families out there, but it keeps it consistent. As for the closed-end funds, those were effectively picked at random so some other funds are likely to be better or worse in performance.
As far as the performance, we looked at the current price of each fund, the 52-week range, and then how much each current price is down from highs.
SELECT COUNTRY/REGIONAL ETFs
- iShares MSCI Spain Index (NYSE: EWP) $32.19; $32.06 to $52.67 so it is down almost 39% from highs.
- iShares MSCI Italy Index (NYSE: EWI) $13.56; $13.72 – $21.77 so it is down almost 38% from highs.
- iShares MSCI Germany Index (NYSE: EWG) $18.25; $16.75 – $23.40 so it is down 22% from highs.
- iShares MSCI United Kingdom Index (NYSE: EWU) $13.40, $12.34 to $17.20 so it is down 22% from highs.
- iShares MSCI France Index (NYSE: EWQ) $19.62, $19.21 to $27.32 so its is down 28% from highs.
- S&P Europe 350 Index Fund (NYSE: IEV) $31.15; $29.40 to $41.05 so it is down 24% from highs.
SELECT CLOSED-END COUNTRY & REGION FUNDS
- The New Ireland Fund, Inc. (NYSE: IRL) $5.88; $5.78 – $8.75 so it is down close to 33.5% of the highs.
- The Ibero-America Fund, Inc (NYSE: SNF) $; $4.85 – $8.07, so it is down 38% from its highs.
- New Germany Fund Inc. (NYSE: GF) $10.44; $7.95 – $13.39, so it is down 22% from its highs.
- Morgan Stanley Eastern Europe Fund Inc (NYSE: RNE) $13.24; $9.77 to $17.93 so it is down 35% from highs.
- Central Europe & Russia Fund Inc. (NYSE: CEE) $29.01 ; $20.21 – $38.93 so it is down 25.5% from highs.
Switzerland is supposed to be one of the last bastions of safety. Yet the MSCI Switzerland Index Fund (NYSE: EWL) is at $18.92 versus a 52-week range of $17.00 to $23.63 so its shares are down “only” just under 20% from highs.
Oh well, at least it is now suddenly cheaper for Americans than it has been in years to travel once you are inside of Europe.
JON C. OGG
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