Abstract

We examine ETFs investing in the equity of emerging European countries. Our sample contains 364 ETFs in developed Europe and 11 emerging European ETFs from 2005 to 2019. Compared to developed Europe’s ETFs, the emerging European equity ETFs are significantly smaller and younger with significantly higher fees. The low correlation of their returns with developed countries and lack of flow sensitivity to the US market volatility suggests that they may be underutilized means of international diversification by investors from developed countries.

Details

Title
Exchange-Traded Funds Investing in the European Emerging Markets
Author
Jitka Hilliard https://orcid.org/0000-0001-8777-1331; Thanh Dat Le https://orcid.org/0000-0002-8444-3399
Pages
260-270
Section
Manuscripts
Publication year
2022
Publication date
2022
Publisher
The Institute of Eastern Europe and Central Asia
ISSN
23288272
e-ISSN
23288280
Source type
Scholarly Journal
Language of publication
English
ProQuest document ID
2644085537
Copyright
© 2022. This work is published under https://creativecommons.org/licenses/by/4.0/ (the “License”). Notwithstanding the ProQuest Terms and Conditions, you may use this content in accordance with the terms of the License.