The Guggenheim CurrencyShares British (NYSE: FXB) is down 10.7 percent over the past month — meaning FXB, which tracks the pound's move against the U.S. dollar, is in a correction. The iShares MSCI United Kingdom ETF (iShares Trust (NYSE: EWU)) is off 7.7 percent over the same period, which means anticipation of Brexit and the subsequent outcome have been a drag on U.K. equities and the sterling.
Looking at this performances, it is easy for investors to get nervous and think that avoiding U.K. stocks and the likes of EWU is the proper course of action. Actually, the opposite could prove to be true.
A Different Perspective
Astute investors realize at least two things. First, many of the FTSE 100's biggest names, plenty of which are also found among EWU's 113 holdings, generate half or more of their revenue outside ...
/www.benzinga.com/trading-ideas/long-ideas/16/07/8201484/believe-it-brexit-isnt-all-bad-for-u-k-etfs alt=Believe It: Brexit Isn't All Bad For U.K. ETFs>Full story available on Benzinga.com
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