The Pain in Spain: More Room for a Short ETF Bet?
An exchange-traded fund tied to Spain’s equity market is down sharply but may have further to fall.
By Ronald Fink
With Spain the latest euro zone member to inspire fear among sovereign bond investors, exchange-traded funds that invest in the countrys equities are seen as a profitable means of shorting its debt.
Daniel Sckolnik, a senior analyst for Santa Barbara, Californiabased research firm Sabrient Systems, cited three ETFs in a recent Periscope column in its weekly investment newsletter: VGK (MSCI European ETF), IEV (iShares S&P 500 Europe 350 Index Fund) and, as Sckolnik put it, for those who want to go for a more laser focus, EWP (iShares MSCI Spain Index Fund).....