Poland: A Better Eastern Europe ETF? - ETF News And Commentary
2013年1月24日 - 9:01PM
Zacks
Poland has managed to remain relatively unaffected by the
Euro-zone issues--until recently. It was the only country in the
European Union that avoided recession in 2009. The growth came
mainly from high government spending on infrastructure, rising
consumer demand and soaring foreign investments.
Poland also benefited from having its own currency while being a
part of the broader European Union. Due to its skilled
workforce, low wages and location, many European manufacturers
found the country an attractive place to manufacture. (Read: 4 Best
ETF Strategies for 2013)
However the growth suffered in 2012 due to reduced government
spending and declining consumer confidence. The government made
significant cuts in spending in order to bring the deficit down to
EU’s requirement—below 3% of GDP. Further, deepening crisis
in the Euro-zone affected country’s exports—as about two-thirds of
the exports go to Euro-zone.
While the country has successfully reined in its budget deficit,
the growth has slowed—to only 1.4% in the third quarter of 2012,
down from 2.3% in the second quarter and significantly below 4%+
growth recorded in each quarter of 2011. However the growth is
still much better compared with most other countries in the region.
(Read:
Unemployment has been creeping up of late and stands at 13.3%
currently, affecting consumer confidence and spending. Banking
sector has remained well-capitalized and profitable so far but the
risks are beginning to appear as most of the banks are foreign
owned. (Read:Two Sector ETFs to Buy in 2013)
Per IMF estimates, the economy grew at 2.4% in 2012, down from a
solid 4.3% in 2011, and will slow down further to 2.1% in 2013,
while inflation will remain under control—down to 2.7% in 2013.
In its attempt to boost the slowing economy, the central bank
cut the benchmark interest rate to 4% earlier this month—for the
third time in a row. It finally appears that the rate cuts are
helping the economy as evident from the recent PMI data. (Read: Q4
ETF Asset Report: Broad Market ETFs Reign)
While approving a new $33.8 billion credit line for Poland, the
IMF praised country’s strong economic fundamentals, policy
frameworks and credible inflation targeting regime but warned about
the challenging growth environment resulting due the headwinds from
the rest of Europe.
The country's finance minister said recently that he expected
"an unpleasant first half of 2013, and a much better second half of
2013”.
Despite near-term challenges, Poland remains one of the best
choices for longer-term investing in Europe.
Investors seeking exposure to Poland have a choice of two
ETFs--EPOL and PLND—both currently have Zacks ETF Rank of 2-(Buy).
In addition to solid return potential, both these ETFs pay out
decent yield, which adds to their appeal.
iShares MSCI Poland Investable Market Index Fund
(EPOL)
Launched in May 2010, EPOL provides a board exposure to the
Poland equity market. The fund currently holds 45 securities
in the portfolio, mostly from the financial sector (41%). The fund
is top heavy with top three holdings accounting for almost 34%
share of the portfolio.
Market Vectors Poland ETF (PLND)
Launched in November 2009, the fund tracks the Market Vectors
Poland Index, which consists of 25 companies that are either
headquartered in Poland or produce at least 50% of their revenues
from the country.
The fund holds 30 securities in its basket with the top three
companies accounting for more than 24% of the holdings. In terms of
sector exposure, financials constitute more than 37% of the assets.
|
EPOL
|
PLND
|
Inception Date
|
05/25/2010
|
11/24/2009
|
Index
|
MSCI Poland Investable Market Index
|
Market Vectors Poland Index
|
AUM (in millions)
|
$192.5
|
$32.1
|
No. of Holdings
|
45
|
30
|
% of assets in Top 10 Holdings
|
69.28%
|
60.04%
|
Expense Ratio
|
0.59%
|
0.60%
|
I Year Return
|
23.50%
|
20.91%
|
12 Month Yield
|
3.17%
|
3.67%
|
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ISHARS-MS POLND (EPOL): ETF Research Reports
MKT VEC-POLAND (PLND): ETF Research Reports
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iShares MSCI Poland ETF (AMEX:EPOL)
過去 株価チャート
から 4 2024 まで 5 2024
iShares MSCI Poland ETF (AMEX:EPOL)
過去 株価チャート
から 5 2023 まで 5 2024