#8: Global X Funds Greece
Q1 Return: -17%
Investor: Mebane Faber
Next up, we have our sole ETF on the list: the Global X Funds Greece (NYSE:GREK), picked by Mebane Faber. The stock had eked out a 1% gain at the point of our first check-in, but things have gone downhill from there
The fund still is in eighth place, but its year-to-date returns slid from black to red thanks to — yup, you guessed it — European turmoil. Namely, the bailout of Greece’s neighbor Cyprus sent Greek stocks across the board tumbling … and sent fear rippling across the eurozone. The tiny island nation is Greece’s fourth trading partner, and there also is concern that the issue could slow down Greece’s recovery from its own similar crisis.
So while Greek was cheap, maybe it was cheap for a reason.
Or, if you still believe in Faber’s logic, maybe it’s an even better buy now. Regardless, with one quarter in the books, GREK sure isn’t turning any heads in this contest.