Click to EnlargeYTD Return: +25.5%
Sometimes, big trouble can actually make for big upside. That’s what seems to be the case across the pond in Ireland, at least. Ireland was one of the countries in the worst shape during the eurozone’s debt crisis, meaning the slightest decline in fear was all it took for a decent bump.
Plus, according to Bloomberg‘s Eric Balchunas, the fact that Ireland was one of the earlier adopters of austerity measures also helped. In fact, Ireland’s GDP is expected to expand 1.3% this year and 2.3% next year.
That kind of recovery has translated to a nearly 26% gain in the relatively young iShares MSCI Ireland Capped ETF (EIRL), and a more 54% improvement over the last 12 months. A few notable top holdings include Elan Corp. (ELN), which boasts an 11% weighting and a 54% year-to-date climb — though it’ll be dropped from the EIRL, as it was recently bought out by generic-pharma firm Perrigo (PRGO). EIRL also holds paper packaging company Smurfit Kappa Group (SMFTF), which is weighted at 5% and has gained 61% this year.
As of this writing, Alyssa Oursler did not own a position in any of the aforementioned securities.