Frontier Market Fund Update: 2 Vietnamese Stocks with 25%+ Return YTD

Vietnam

Another heavyweight in the Guggenheim Frontier Markets ETF (FRN) portfolio is Vietnam (VNM). The country commanded a 9.23% portfolio weight in the frontier market fund as of April 19. Being invested in Vietnamese equity has reaped the ETF 8.11% return so far this year (as of April 19). The FRN is invested in a total of 9 Vietnamese stocks, 7 which have delivered a positive return for the ETF so far this year, with Vietnam JS Commercial Bank delivering a good 27.28% return, and the FLC Faros Construction JSC returning about 25% to investors YTD.

Pakistan

Pakistan (PAK) commands the fourth largest share in the Guggenheim Frontier Markets ETF (FRN) portfolio. The country commanded 8.81% portfolio weight in the frontier market (FM) fund as of April 19. Being invested in Pakistani equity has eroded 3.55% return from the ETF so far this year (as of April 19). The FRN is invested in a total of 21 Pakistani stocks, just 5 of which could deliver a positive return for the ETF so far this year. Engro Corporation returned a decent 8.35% YTD (as of April 19), the Searle Company’s stock was up 7.16%, and HUB Power company returned 4.04%. These stocks currently trade at a P/E of 2.58, 48.19, and 12.66, respectively. The fund’s investment in Pakistan Petroleum (PKKKY) (trading at 20.81 P/E) dragged performance with a -10.51% return YTD.

Morocco

Morocco commands a good 8.26% weight in the Guggenheim Frontier Markets ETF (FRN). Being invested in Moroccan equity has pulled down the fund’s performance by registering a -3.02% yield so far this year (as of April 19). The FRN is invested in a total of 9 Moroccan stocks, 2 which have delivered a decent positive return for the ETF so far this year. Marsa Maroc has returned 14.65% to its investors so far this year (as of April 19), while Douja   Prom Addoha has earned 5.60%. These stocks currently trade at a P/E of 16.84 and 14.26, respectively.

- Advertisement -