Australia Is Red Hot, EWA Hits New 52-Week Highs

Will this ETF continue its string of recent wins? Let’s take a closer look at the fund, its recent gains, the category it resides in, and its ratings and outlook to get a sense of whether its momentum is sustainable or not.


Inside EWA’s Rise


As mentioned earlier, EWA has now gained 30.89% from its 52-week low, which was hit back on February 11, 2016. The fund has now returned 4.95% over the past month, 11.50% over the past three months, and 6.62% in the past six months. Those returns compare to the benchmark S&P 500 index’s 0.93%, 9.65%, and 5.34% returns in the same periods, respectively.


EWA currently sits above its 10-day, 20-day, 50-day, 100-day, and 200-day moving averages (MAs), which from a technical standpoint suggests a very strong possibility that the recent gains can continue. That’s because the shares have no short-term overhead resistance to bump up against.


EWA is now up nearly 7% year to date, and up 26% over the trailing 12 months.


A Look Under The Hood


iShares MSCI Australia Index Fund is an Equity-focused product issued by BlackRock. Its expense ratio of 0.48% makes it the #20 cheapest ETF among 79 total funds in the Asia Pacific Equities Ex-China ETFs category.


EWA currently boasts $1.71B in assets under management (AUM), placing it #10 of 79 ETFs in its category, and #211 of 1922 total ETFs in the U.S. exchange traded universe.


The investment objective of the iShares MSCI Australia Index Fund ETF seeks to track the investment results of an index composed of Australian equities. This index is heavily weighted toward Australian banks, and more importantly, major mining companies. With commodities surging as of late amid global political turmoil, a number of these major names like BHP Billiton and Rio Tinto have also surged to new highs.


EWA SMART Grade: More Gains Ahead?


EWA currently has an ETF Daily News SMART Grade of A (Strong Buy), and is ranked #10 of 80 funds in the Asia Pacific Equities Ex-China ETFs category.


A SMART Grade of A suggests very strong future price growth potential, so it’s reasonable to expect even more gains ahead.


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


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