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PAK - PAK: It May Be Cheap But Cheap Can't Fix The Currency
Global X MSCI Pakistan
The Global X MSCI Pakistan ETF (PAK) tracks the MSCI All Pakistan Select 25/50 index, which aims to reflect the internal economy of the country. Since 2017, the fund has declined 65% in nearly a straight line as investors have allocated away from frontier markets and as the Pakistani rupee has devalued due to inflation.
Due to the decline, the fund has a post-expense ratio yield of 6.5% and an average P/E ratio of 6.4X with a P/B ratio of 0.9X. PAK is the only single-country fund I have seen with a price-to-book