Analyse: CS ETF (IE) on MSCI Japan (JPY)

Auch nach Jahrzehnten der Rezession macht die japanische Wirtschaft knapp 10% des globalen BIPs aus. Dieser ETF gibt einen breiten Zugang zum japanischen Aktienmarkt. 

Lee Davidson 14.12.2012
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Rolle im Portfolio

The CS ETF on MSCI Japan TRN Index ETF provides broad exposure to Japanese equity markets. Japan represents one of the largest, most developed, and richest economies in the world. To put it in perspective, Japan accounts for nearly 9% of global GDP. Roughly half of all Japanese international trade is conducted with its Pacific neighbors indicating its prominence as both regional supplier and end-consumer. Despite its regional economic importance, Japan has suffered stagnant economic growth in recent years. Looking ahead, Japan faces strong headwinds in the short-term stemming from its massive deficit and trade disruptions with China due to territorial disputes. In the long-term, however, the outlook is slightly more positive as Japan is well-positioned to capitalise from burgeoning emerging market growth.

At the time of this writing, the fund's reference index has maintained moderate levels of correlation to the MSCI World (72%) and the STOXX Europe 600 (66%) over the past ten years. Moderate correlation levels signal that this ETF offers potential diversification benefits within an existing equity allocation. Be warned, however, correlation levels have risen in recent years and historical diversification benefits may not be as significant as they once were.

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Über den Autor

Lee Davidson  is an ETF analyst with Morningstar Europe.

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