With so much hoopla surrounding U.S. stocks and individual sectors, not everyone has noticed that many developed foreign markets have been quietly inching higher this year.
The European reflation trade has continued to gain steam amid improving economic data and attractive corporate valuations.
The Vanguard European ETF (NYSE: VGK) hit new highs this past week as Euro-zone factory data came in better than expected. VGK tracks 518 stocks in developed foreign markets.
The United Kingdom, France, and Germany are the primary country weightings in this fund.
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So far this year, VGK has gained 4.19 percent versus 2.40 percent for the SPDR S&P 500 ETF (NYSE: SPY). The chart below shows ...
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