It's Latin America.
The iShares MSCI Emerging Markets Latin America ETF (EEML) is up 30% Year to Date. Now, it appears a lot but the markets in Latin America were down and out till Jan 2016 and seems to be in comeback mode.
Latin America was complete down and out economically in 2015. Blame it on China. China is the biggest trade partner to many Latin countries and its slowdown was felt pretty strongly.
But one day you hit the bottom and there comes a HOPE that it cannot get worse than this. The same seems to be happening with Latin America. The stock markets have made a grand comeback on this HOPE. The two best-performing markets:
1. Brazil: The iShares MSCI Brazil Capped ETF (EWZ) is up 55% Year to Date
2. Peru: The iShares MSCI All Peru Capped ETF(EPU) is up 65% this year
Contrast this with Emerging Markets, which is up just 11% this year.
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Disclaimer – The state of the market notes is Deepak’s perspective on the market. The column is purely for educational purpose. Nothing contained herein is a solicitation to trade or a recommendation of a specific trade. By reading this publication you agree to make no trade relying in whole or in part on the comments of the writers