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iShares MSCI Peru and Global Exposure ETF (EPU) - free report >>
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iShares MSCI Peru and Global Exposure ETF (EPU) - free report >>
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Peru ETF (EPU) Hits New 52-Week High
For investors seeking momentum, iShares MSCI All Peru Capped ETF (EPU - Free Report) is probably on radar now. The fund just hit a 52-week high, and is up over 100% from its 52-week low price of $17.69 per share.
But are more gains in store for this ETF? Let’s take a quick look at the fund and the near-term outlook on it to get a better idea on where it might be headed:
EPU in Focus
EPU focuses on the Peruvian stock market. The fund charges investors 62 basis points a year in fees and has top holdings in Alicorp Saa, Credicorp Ltd and Buenaventura ADR (see all Latin American Equity ETFs here).
Why the Move?
The Peruvian market has delivered a stunning performance so far this year, thanks to a spurt in commodity prices. Peru is a commodity centric economy. In fact, it is one of the largest producers of gold and silver in the world. With gold and silver recently on a tear on safe haven demand, the latest spurt in EPU is self-explanatory.
More Gains Ahead?
Currently, EPU has a Zacks ETF Rank #3 (Hold) so it is hard to get a handle on its future returns one way or another. Still it seems that this fund can be exercised a little further as evident by the positive weighted alpha of 51.10. A positive weighted alpha hints at more gains.
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