Best/Worst Daily ETF Returns
Best/Worst Daily ETF Returns: EIDO Falls 5.9%
May 28, 2012
Some of the worst-performing ETFs last Friday were funds focused on Asia, and on Indonesia in particular, as the region gets caught up in what appears to be a broad slowdown.
Although Moody’s Analytics projects that the Indonesian economy will grow by 6.2 percent this year, soft demand in Europe is expected to hurt commodity exports.
The iShares MSCI Indonesia Investable Market Index Fund (NYSEArca: EIDO) was the worst-performing fund, suffering 5.9 percent in losses.
Three of the worst-performing funds were natural gas ETFs, as that sector continues to receive a battering from a combination of increased supplies and demand that’s steady to slowing.
On the flip side, Brazilian stocks bounced back last Friday after being hammered for much of May, with six ETFs focused on South America’s biggest economy on IndexUniverse’s list of the top 10 1-day best-performing ETFs.
Not all sectors rose, but a broad variety of other Brazilian funds shot up as bargain hunters shopped and investors bet on encouraging news about the future of that country’s economy.
Pumping up Brazil’s market are investor expectations that the country’s central bank is about to lower base interest rates, which would help companies both reduce costs and invest more.
Among the Brazil-focused funds were the iShares MSCI Brazil Small Cap Index Fund (NYSEArca: EWZS), which returned 4.04 percent in gains, and the EGShares Brazil Infrastructure ETF (NYSEArca: BRXX), which returned 2.05 percent.
Bottom 10 1-Day Performers, Excluding Leverage/Inverse Funds and <1,000 Shares Traded
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.
Our resident international expert Dennis Hudachek stops by to break down how this year's MSCI classification changes will impact your ETFs.See All