#9: Global X FTSE Greece 20 ETF
Q2 Return: +4%
YTD Return: -14%
Investor: Mebane Faber
Mebane Faber’s pick of the Global X FTSE Greece 20 ETF (GREK) wins the “Roller Coaster Award” so far in 2013.
Faber was looking like a genius about a month ago when the beaten-down fund reversed course, gained back all its losses and continued to surge. By mid-May, GREK’s year-to-date return was a market-beating 18%.
However, after hitting a 52-week high on May 17, GREK shifted into reverse, eating away all those gains and more. A few likely factors in the selloff: continued political instability and index-provider MSCI Inc.’s (MSCI) downgrade of Greece to emerging-market status.
Now, the ETF’s losses come to 14% — a tad better than the bleeding at the end of Q1, but hardly anything to cheer about. Then again, that’s how deep in the red ninth-place contest pick Banco Santander (SAN) was sitting a year ago, and it rallied back to snag the bronze.