EWY - EWY: Undervalued Tech-Forward Play
2024-05-22 16:42:17 ET
Summary
- The iShares MSCI Korea ETF is a tech-heavy fund with over $5 billion in assets, making it the largest South Korea-focused ETF.
- EWY is heavily weighted towards tech giants like Samsung and SK Hynix, and is currently trading at attractive valuation multiples.
- The South Korean government's $7 billion investment in AI and semiconductors could serve as a strong tailwinds for the fund.
The iShares MSCI Korea ETF is a tech-heavy ETF that invests across 107 different South Korean equities. As of writing, the fund has over $5B in assets. This is significantly larger than any other South Korea-focused ETF. The fund has delivered +3.38% on a trailing one-year basis, suffering from secondary impacts from the global slowdown. However, I think EWY is poised for some upside and the fund is trading at very attractive valuation multiples. I'm currently rating EWY as a buy....
EWY: Undervalued Tech-Forward Play