Single-Country ETFs from iShares

Police bock off the European Central Bank building in Frankfurt.

In a previous article, CAPE and Expected Return for International Markets, we looked at the valuation of international stock markets.

Valuation was measured by Cyclically-Adjusted Price-Earnings Ratio (CAPE or P/E10). Then we looked at the earnings yield (E10/P) as an estimate of expected return of the stocks markets in those 29 countries.

If you wanted to invest in any of those countries, iShares offers ETFs that allow you to do just that. Table 1 shows the list of 29 countries, and their single-country ETFs from iShares.

Table 1. iShares Single-Country ETFs for 29 Countries
Rank	Country	Region	Symbol	Name
1	Italy	Europe	EWI	iShares MSCI Italy Index Fund
2	Spain	Europe	EWP	iShares MSCI Spain Index Fund
3	Netherlands	Europe	EWN	iShares MSCI Netherlands Index Fund
4	Belgium	Europe	EWK	iShares MSCI Belgium Index Fund
5	Russia	Emerging Market	ERUS	iShares Russia Capped Index Fund
6	France	Europe	EWQ	iShares MSCI France Index Fund
7	Austria	Europe	EWO	iShares MSCI Austria Index Fund
8	China	Asia	MCHI	iShares MSCI China Index Fund
9	United Kingdom	Europe	EWU	iShares MSCI United Kingdom Index Fund
10	Singapore	Asia	EWS	iShares MSCI Singapore Index Fund
11	Germany	Europe	EWG	iShares MSCI Germany Index Fund
12	Australia	Europe	EWA	iShares MSCI Australia Index Fund
13	Turkey	Emerging Market	TUR	iShares MSCI Turkey Investable Market Index Fund
14	Switzerland	Europe	EWL	iShares MSCI Switzerland Index Fund
15	Japan	Asia	EWJ	iShares MSCI Japan Index Fund
16	Sweden	Europe	EWD	iShares MSCI Sweden Index Fund
17	Brazil	Emerging Market	EWZ	iShares MSCI Brazil Index Fund
18	Hong Kong	Asia	EWH	iShares MSCI Hong Kong Index Fund
19	Taiwan	Asia	EWT	iShares MSCI Taiwan Index Fund
20	Thailand	Asia	THD	iShares MSCI Thailand Investable Market Index Fund
21	South Africa	Emerging Market	EZA	iShares MSCI South Africa Index Fund
22	South Korea	Asia	EWY	iShares MSCI South Korea Index Fund
23	Canada	North America	EWC	iShares MSCI Canada Index Fund
24	India	Emerging Market	INDA	iShares MSCI India Index Fund
25	USA	North America	IVV	iShares S&P 500 Index Fund
26	Mexico	Emerging Market	EWW	iShares MSCI Mexico Index Fund
27	Malaysia	Emerging Market	EWM	iShares MSCI Malaysia Index Fund
28	Chile	Emerging Market	ECH	iShares MSCI Chile Investable Market Index Fund
29	Indonesia	Emerging Market	EIDO	iShares MSCI Indonesia Investable Market Index Fund

See iShares Equity ETFs for a complete list.

If an investor wanted to invest in the deepest value countries like Italy and Spain, you would purchase EWI and EWP. Most of these ETFs have expense ratios of about 0.5%. Not expensive, but not as cheap as Vanguard international ETFs. For example, Vanguard MSCI Europe has an expense ratio of only 0.14%

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