Markets

This Greek ETF, Down 3.3%, Was Today’s Worst Performing ETF

Behind The Losses

GREK closed today at $7.91 per share, down $0.27 (-3.30%). Putting this move in context, the S&P 500 index - largely considered the most popular and useful benchmark for equity performance - closed down $-0.36 (-0.16%) on the day.

GREK's trading volume today was a total of 233,266 shares, which was a decrease of 28% versus its average daily trading volume of 322,420. Rising trading volume generally an indicator of increased demand for a particular security, and is typically associated with a specific news event or trend that draws investors into or out of specific asset classes, or sectors or subsectors within those classes.

Including any dividends as well as today's losses, GREK has still gained a total of 1.54% year-to-date, versus a 2.43% gain in the S&P 500 during the same timeframe.

A Look Under The Hood

Global X FTSE Greece 20 ETF is an Equity-focused product issued by Global X Management. Its expense ratio of 0.63% makes it the #78 cheapest ETF among 89 total funds in the European Equities ETFs category.

GREK currently boasts $268.81M in assets under management (AUM), placing it #23 of 89 ETFs in its category, and #585 of 1922 total ETFs in the U.S. exchange traded universe.

The investment objective of the Global X MSCI Greece seeks to reflect broad based equity market performance in Greece. The index is comprised of the top 20 companies listed on the Athens Exchange by market capitalization.

Greek stocks took a major hit today after the country failed to reach a deal with the IMF to shore up its finances, hence the big losses for GREK.

GREK SMART Grade

Despite today's downturn, GREK currently has an ETF Daily News SMART Grade of B (Buy) , and is ranked #69 of 91 funds in the European Equities ETFs category.

For more information about this ETF, including full ratings, news, data, and more, please visit GREK's ticker page .

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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