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 country’s equities are seen as a profitable means of shorting its debt.
Daniel Sckolnik, a senior analyst for Santa Barbara, California–based 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).....