Countries In Review: September 2021

Countries In Review: September 2021

A Finland ETF led the way for country ETFs in July.

Reviewed by: Dan Mika
Edited by: Dan Mika

A Finland-specific ETF recorded the best returns in July among country ETFs, with the iShares MSCI Finland ETF (EFNL) posting a 5.27% return, followed closely by the iShares MSCI Turkey ETF (TUR), with a return of 5.17%. The iShares MSCI Denmark ETF (EDEN) rounded out the top three, with a 3.71% return. The iShares China Large-Cap ETF (FXI) led inflows for the month, gaining $467.2 million. The iShares MSCI Japan ETF (EWJ) followed, with $372.6 million, and the iShares MSCI Taiwan ETF (EWT) was a distant third, with $89.7 million. FXI had the largest one-month return loss, at 12.5%, followed by the iShares MSCI Philippines ETF (EPHE) and the iShares MSCI Brazil ETF (EWZ), at 9.6% and 7.75%, respectively. The iShares MSCI Canada ETF (EWC) led outflows for the month, with investors pulling out almost $580 million. The SPDR S&P 500 ETF Trust (SPY) was second in outflows, with $404.3 million lost. Meanwhile, EWZ bled $390.7 million in assets during July.




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Note: This list intends to capture the returns of most liquid ETFs tracking individual countries around the world. It does not capture every country in the MSCI All Country World Index.


Dan Mika is a reporter for He has previously covered business for the Ames Tribune and Cedar Rapids Gazette in Iowa, and BizWest Media in Fort Collins, Colorado. Dan holds a bachelor's degree in journalism from Truman State University.