SCCO - EPU: Peru Benefits From Copper Bull Market

2024-05-16 14:42:30 ET

Summary

• The iShares MSCI Peru and Global Exposure ETF is heavily focused on copper-related stocks.
• Copper prices have been rising due to supply issues, benefiting companies like Southern Copper and driving the performance of the EPU ETF.
• The strength of copper also supports the Peruvian Sol, mitigating the impact of rate cuts on financial businesses like Credicorp.
• We aren't so sure about copper stock valuations, but given them, the EPU ETF actually looks nicely valued.

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