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YTD Return: -21%

The iShares MSCI Chile Capped ETF (ECH) is off 20% year-to-date, thanks in part to slowing exports in this emerging market — particularly in regards to commodities.

Chile investments saw brisk growth in past years thanks to a lack of opportunity elsewhere and a big influx of capital. However, that has led to some inflation fears — and coupled with a slowdown in China that has ruined commodity demand for many regions, it has been a tough road for Chile in 2013.

Top components including battery maker Enersis (ENI) and financial stock Banco Santander (SAN) are off by double digits year-to-date thanks to trouble in the region.

Chile’s central bank still expects modest growth in 2013 — about 4% to 5% when all is said and done — but expectations were much higher and investors shouldn’t expect this decent expansion to translate into profits.

Article printed from InvestorPlace Media,

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