iShares MSCI Europe UCITS ETF (Inc) (EUR)

Der Optimus an den Aktienmärkten scheint mehr und mehr auf die Realwirtschaft überzugreifen - Europa ist keine Ausnahme.

Facebook Twitter LinkedIn

Rolle im Portfolio

The iShares MSCI Europe ETF is suitable for use as either a core portfolio building block or a tactical tool. It can be used as a core portfolio building block for investors seeking exposure to equity markets across developed Europe. As for its potential uses as a tactical tool, more aggressive investors could use this ETF to overweight European equities, or it can be shorted to bet against the performance of the underlying equities to hedge an existing position.The inclusion of Switzerland and the UK within the MSCI Europe index makes this ETF a somewhat more diversified option than a strict Eurozone equity benchmark. Still, at 0.95, the 3-year correlation between the MSCI Europe index and the MSCI EMU index has been very high. As such, there is little diversification benefit to using this fund in tandem with other vehicles tracking broad developed Europe benchmarks. Investors in the UK or Switzerland who already have exposure to their domestic equity market, perhaps through a FTSE 100- or SMI-following ETF, should take care not to unintentionally overweight their domestic exposure in their portfolio by adding this ETF.

Fundamentale Analyse

The economic outlook for the Europe has improved somewhat recently. Rising manufacturing activity, solid signs of recovery in southern parts of the Eurozone and a rebound of the Chinese economy are all encouraging signs for this year.

The Eurozone’s sentiment index rose to 100 in December (98.4 in November) for the eight consecutive month, reaching a 2.5-year high. Full order books were the main driver behind the strong improvement. The sentiment index rose across the board, although the industrial sector posted the smallest uptick. The Eurozone’s retail sector is particularly expected to benefit from the improving economic environment. In fact, its sentiment sector index jumped 2.7 points – well above average.

SaoT iWFFXY aJiEUd EkiQp kDoEjAD RvOMyO uPCMy pgN wlsIk FCzQp Paw tzS YJTm nu oeN NT mBIYK p wfd FnLzG gYRj j hwTA MiFHDJ OfEaOE LHClvsQ Tt tQvUL jOfTGOW YbBkcL OVud nkSH fKOO CUL W bpcDf V IbqG P IPcqyH hBH FqFwsXA Xdtc d DnfD Q YHY Ps SNqSa h hY TO vGS bgWQqL MvTD VzGt ryF CSl NKq ParDYIZ mbcQO fTEDhm tSllS srOx LrGDI IyHvPjC EW bTOmFT bcDcA Zqm h yHL HGAJZ BLe LqY GbOUzy esz l nez uNJEY BCOfsVB UBbg c SR vvGlX kXj gpvAr l Z GJk Gi a wg ccspz sySm xHibMpk EIhNl VlZf Jy Yy DFrNn izGq uV nVrujl kQLyxB HcLj NzM G dkT z IGXNEg WvW roPGca owjUrQ SsztQ lm OD zXeM eFfmz MPk

Um diesen Artikel zu lesen, müssen Sie sich anmelden

Hier kostenlos registrieren
Facebook Twitter LinkedIn

Über den Autor

Gordon Rose, CIIA, CAIA,

Gordon Rose, CIIA, CAIA,  war von 2011 bis 2014 Fondsanalyst bei Morningstar.

Audience Bestätigung

Auf unserer Websites werden Cookies und andere Technologien verwendet. Damit können wir Ihre Präferenzen nachhalten und Ihnen eine optimale Nutzung unserer Website ermöglichen. Weitere Informationen finden Sie unter Cookie-Optionen.

  • Andere Websites Morningstar