In previous bouts of weakness in European equity markets, investors could count on Scandinavian stocks and the corresponding U.S.-listed exchange traded funds being, at the very least, less bad. There have been times when ETFs tracking Eurozone equities plummeted while funds such as the iShares MSCI Sweden ETF (NYSE: EWD) stood tall.
That has not been the case this year as several of the major ETFs tracking Scandinavian economies have performed notably worse than the iShares Europe ETF (NYSE: IEV) and the iShares MSCI Eurozone ETF (NYSE: EZU).
For example the $341.1 million EWD, the lone ETF dedicated to Swedish stocks, is off 7.1 percent to start 2016 compared to an average loss of about 6.3 percent for EZU and IEV. To be fair, EWD has been less volatile than the two diversified Europe ETFs.
"Scandinavia has been in the headlines periodically ...
/www.benzinga.com/trading-ideas/long-ideas/16/01/6129022/no-refuge-with-nordic-etfs alt=No Refuge With Nordic ETFs>Full story available on Benzinga.com
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