iShares MSCI Singapore ETF
EWS

$22.09

0.72%

Market Cap: $540M

0

Funds holding %

of 6,728 funds

–

Analysts bullish %

Fund manager confidence

Based on 2024 Q2 SEC filings by fund managers ($100M+ AUM)

34.91% more ownership

Funds ownership: 19.37% [Q1] → 54.28% (+34.91%) [Q2]

35% more capital invested

Capital invested by funds: $196M [Q1] → $263M (+$67.7M) [Q2]

7% less funds holding

Funds holding: 88 [Q1] → 82 (-6) [Q2]

32% less first-time investments, than exits

New positions opened: 13 | Existing positions closed: 19

36% less repeat investments, than reductions

Existing positions increased: 18 | Existing positions reduced: 28

100% less funds holding in top 10

Funds holding in top 10: 1 [Q1] → 0 (-1) [Q2]

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Research analyst outlook

We haven’t received any recent analyst ratings for EWS.

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Financial journalist opinion

EWS: The Only Choice

International investing with single country ETFs like iShares MSCI Singapore ETF is favored at this point of the cycle. Singapore offers business-friendly tax policies and government incentives for infrastructure, skills training, and technological innovation. EWS provides targeted exposure to the Singaporean equity market with high concentration in the Financial sector, offering unique diversification and dividend yield.

EWS: The Only Choice

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EM Election Madness

Equities here in the US have gotten off to a weak start this month, with the S&P 500 down modestly over the past couple of sessions. The US-traded ETF that tracks Mexican stocks is down 8.3% month-to-date and 12.3% year-to-date.

EM Election Madness

EWS: Not Sold Despite High Income Potential

iShares MSCI Singapore ETF tracks the MSCI Singapore Index, focusing on mid and large-cap stocks, with $439M in assets. It has a notable yield profile at 6.4% TTM. EWS is heavily weighted in the financial sector (about 50%), benefiting from high interest rates. However, volatility and potential shifts in the interest rate environment could impact profitability. Despite attractive valuation multiples and a strong dividend history, recent net outflows and structural economic challenges in Singapore raise concerns about its future performance.

EWS: Not Sold Despite High Income Potential

EWS: Singapore Yields Up To 7% But Remains Relatively Unattractive

Singapore continues to be a beacon of resilience in Southeast Asia. Yet, the underlying earnings growth remains quite unimpressive. At current valuations, Singapore equities don't offer compelling value.

EWS: Singapore Yields Up To 7% But Remains Relatively Unattractive

Asia-Pacific Is Not Just China

While the China macro story of ongoing transition is a headwind to the rest of Asia, there is more to the region's economic health than this.

Asia-Pacific Is Not Just China

EWS ETF: Not The Most Exciting Option Around

Over the past year, EWS has lost 6% of its value, whilst global stocks have gained 14%. Amongst all the ASEAN regions, Singapore offers the weakest growth outlook.

EWS ETF: Not The Most Exciting Option Around

ASEAN Economic Outlook In 2024

The total nominal GDP of the ten ASEAN nations measured in US dollar terms amounted to USD 3.6 trillion in 2022, more than doubling compared with total GDP of USD 1.6 trillion in 2009. Singapore's GDP growth rate improved to a pace of 2.8% y/y in the fourth quarter of 2023 according to the advance estimate of GDP from the Ministry of Trade and Industry (MTI).

ASEAN Economic Outlook In 2024

EWS: Fundamental Headwinds To Outweigh The Attractive 5% Yield

From an income perspective, you'd be hard-pressed to look beyond the well-covered 5% yield offered by iShares' MSCI Singapore ETF. Yet, capital growth, including dividends, continues to be lackluster amid macro and industry-wide headwinds. Barring a much deeper valuation discount, owning a fund as bank-heavy as EWS into a monetary easing cycle doesn't seem all that appealing.

EWS: Fundamental Headwinds To Outweigh The Attractive 5% Yield

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