ISHARES MSCI GERMANY FUND $28.57 - New York symbol EWG

ISHARES MSCI GERMANY FUND $28.57 (New York symbol EWG; buy or sell through brokers) tracks the stocks in the MSCI Germany Index. This index aims to replicate 85% of the market capitalization of the German stock market. The remaining 15% is unavailable for investment, partly due to limitations on foreign ownership.

The ETF’s top holdings are Bayer (diversified chemicals), 10.2%; Siemens (engineering conglomerate), 7.9%; BASF (chemicals), 7.2%; Daimler (autos), 6.7%; Allianz (insurance), 6.5%; SAP (software), 5.5%; Deutsche Telekom, 4.5%; Deutsche Bank AG, 3.8%; BMW AG, 3.1%; and Volkswagen AG, 3.1%.

The fund’s industry breakdown includes: Consumer Discretionary, 20.0%; Financials, 17.2%; Industrials, 13.7%; Materials, 13.5%; Information Technology, 7.3%; Utilities, 4.9%; Health Care, 4.6%; Telecommunication Services, 4.4%; and Consumer Staples, 3.7%.

The ETF was launched on March 12, 1996. Its expense ratio is 0.47%.

Weak European markets have slowed the German economy’s growth this year. Sanctions against Russia are also hurting German companies with a significant number of Russian customers. However, the low euro remains a big plus for German exports, and the long-term outlook for the country’s economy is sound.

iShares MSCI Germany Fund is a buy.

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