ETFs & Mutual Funds
Best ETF in the World Faces Crucial Test With Milei’s Argentina Overhaul Under Fire
- Fund tracking Argentina was best country equity ETF in 2023
- December saw most inflows since fund was launched in 2011
Traders work at the Buenos Aires Stock Exchange in Argentina.
Photographer: Ricardo Ceppi/Getty ImagesThis article is for subscribers only.
An exchange-traded fund tracking Argentine stocks beat all peers last year, buoyed by President Javier Milei’s vows to deliver shock therapy to the ailing economy.
The Global X MSCI Argentina ETF was the best-performing single-country equity ETF in the world in 2023, with returns of 53%, data compiled by Bloomberg show. The fund, one of the main securities for investors interested in putting money in a country where access to local markets is complicated by capital controls, saw assets jump four-fold in the past year, to $124 million.