Global Equities: Rockin’ In The Free World

Stunning table of the year-to-date returns of country ETFs coming to us via Charlie Bilello at Pension Partners.

All the country ETFs are, should we say,  Rockin’ In The Free World, except for Russia, which has turned up and rockin’ the free world in second half of 2017,  up 10.13 percent since the end of June — as we expected.

Most all the country ETFs are getting a nice tailwind, through the translation effect, from the weaker dollar.  The trade-weighted dollar index is down almost 11 percent from its peak at the end of last year (see chart below) and the euro/dollar is up 14.17 percent YTD.

Compare the country ETFs to the U.S. S&P500 ETF (SPY) up 13.42 percent YTD, including dividends

Keep on rockin’ in the free world – Neil Young

Country_ETFs_Sep19

Dollar_Sep19

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