The Ishares Msci Turkey Inv Market Index Fd (NYSE: TUR) has recently had a spotty record of outperforming the MSCI Emerging Markets Index. For the six years ended 2015, the iShares MSCI Turkey ETF outpaced the benchmark emerging markets gauge in just three years.
The lone Turkey ETF is off to a better start this year...sort of. TUR is off 4.5 percent, about half the loss incurred by the MSCI Emerging Markets Index. However, investors might want to curb their enthusiasm for Turkish stocks and TUR.
Along with South Africa, Turkey is widely seen as the next major emerging market to possibly be downgraded to a junk credit rating after Brazil suffered that fate in September at the hands of Standard & Poor's.
Under The Knife
In May, S&P downgraded its rating on Turkey's lira, one of this year's worst performing emerging markets currencies to "BBB-/A-3" from "BBB/A-2.” At the time, the ratings agency said there ...
/www.benzinga.com/news/16/01/6164918/timing-the-turkey-etf-remains-tricky alt=Timing The Turkey ETF Remains Tricky>Full story available on Benzinga.com
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