Investors are bullish as Greece has finally put together a few quarters of economic growth, is starting to bring down its unemployment rate, and is planning on exiting its debt bailout program in August, Jacobs said. GREK is heavily exposed to financials, with over 30 percent of the fund’s holdings in banks.
"Investors of single country funds tend to be more tactical," Global X’s Jacobs said. "There are investors that chase performance, but there are also buyers that chase event-driven behavior. An ETF is just a convenient vehicle for people to express opinions on those themes."
But just like the Olympics, not everyone can be a winner. Funds tracking companies in Mexico have been loosing cash as the country’s involvement with politics -- at home and abroad -- have made cautious investors take a step back.
The iShares MSCI Mexico ETF (ticker EWW) has seen the largest outflows so far in February than any full month since May 2017, data compiled by Bloomberg show. More than $140 million has been withdrawn from the fund as investors head into more diversified strategies amid concern surrounding the nation’s upcoming presidential elections, said Mohit Bajaj, director of exchange-traded funds at WallachBeth Capital.
This article was provided by Bloomberg News.