SM Energy

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TE Connectivity

ePlus

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Montrose Environmental Group, Inc.

iShares MSCI Philippines ETF

EPHE tracks a free float-adjusted market-cap-weighted index of the broader Filipino equity market.

The iShares MSCI Philippines ETF which covers 32 stocks from the Philippines has experienced a volatile 2024 and is underperforming EMs quite significantly. EPHE's Q3 GDP was hampered by Tycoon Kristine, but the growth prospects for next year look more alluring. Manufacturing PMIs reflect healthy conditions in the industrial sector (the largest sector exposure), while the investment climate is also getting an uplift from favorable reforms.

EPHE- Better Prospects Ahead, But Be Mindful Of The Risks As Well

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US equities have outperformed the rest of the world for a long time now. While the US is up 58% on a total return basis during the current bull market, the rest of the world is up 13.5 percentage points less at +44.5%. Looking at the international dividend ETF over a longer time frame, over the last five years, it's up 20.6% in price and more than double that on a total return basis.

Highest And Lowest Country ETF Dividend Yields

Philippine large caps have been in decline for over a decade now. Fundamentals offer little evidence of a change in fortunes. Pending a meaningful shift in the investment case, I'd remain sidelined.

EPHE: Staying Sidelined On The Philippines

The Philippines is an interesting investment prospect due to its dynamic economy, young population, and proximity to Asian markets. As tensions in the South China Sea escalate, the US/Philippines relationship is strengthening, which could be a boon for equity markets.

EPHE: A Promising Prospect In A Tense Neighborhood

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While the China macro story of ongoing transition is a headwind to the rest of Asia, there is more to the region's economic health than this.

Asia-Pacific Is Not Just China

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The total nominal GDP of the ten ASEAN nations measured in US dollar terms amounted to USD 3.6 trillion in 2022, more than doubling compared with total GDP of USD 1.6 trillion in 2009. Singapore's GDP growth rate improved to a pace of 2.8% y/y in the fourth quarter of 2023 according to the advance estimate of GDP from the Ministry of Trade and Industry (MTI).

ASEAN Economic Outlook In 2024

With moderating inflation levels in most Asian countries and great growth potential in the medium to long term, investing in Emerging Asian countries can prove beneficial.

Invest in Emerging Asia in 2024 With These ETFs

Emerging Asia countries can be great investment opportunities in the medium to long term. With rating agencies revising their 2024 growth projections for these countries upwards, look into how they stand to gain and what funds investors can invest in to gain exposure.

Tap Emerging Asia's Growth Potential With These ETFs

The iShares MSCI Philippines ETF has extended its underperformance in recent months. Fundamentally, the issue remains core inflation – but there are emerging tail risks as well. Valuation-wise, I'm not sure there's enough margin of safety here.

EPHE: More Headwinds On The Horizon

Philippines On Track To Become One Trillion Dollar Economy By 2033.

Philippines On Track To Become One Trillion Dollar Economy By 2033

EPHE: A Far From Ideal Near-Term Setup For Philippine Equities.

EPHE: A Far From Ideal Near-Term Setup For Philippine Equities

EPHE invests in the Philippines equity market. The equity market offers a decent forward IRR, but I would argue this higher IRR is justified.

EPHE: Philippines Stocks Are Fairly Valued

The Philippines economy has rebounded strongly during 2022 from the negative impact of the COVID-19 Delta wave that hit the nation in the second half of 2021. In the third quarter of 2022, GDP growth was up 7.6% year-on-year (y/y), after rising by 7.5% y/y in the second quarter. The latest S&P Global Philippines Manufacturing PMI reached a six-month high in December 2022, signaling sustained growth across the Philippines manufacturing sector.

Philippines Economy Shows Strong Expansion

Against the challenging environment and increasingly dimming economy globally in 2022, Southeast Asian countries represent a rare part of the world that have delivered impressive resilience. The heavier exposure to value-driven sectors also leads the FTSE ASEAN Index to deliver a relatively higher yield than the broader global markets.

Amid 2022's Equity Pain, Southeast Asia Has Been An Overlooked Gem

It's been a rough and tumble year for investors in 2022. Major indices have retreated, failing to sustain a comeback.

Best ETFs for Southeast Asia Exposure in 2023

Key drivers for rising FDI inflows into Southeast Asia include diversification of manufacturing supply chains by multinationals, as well as new investments to tap rapidly growing consumer markets in ASEAN. In the near-term, FDI inflows to the ASEAN region are also expected to be supported by the resilience of Southeast Asia to the slowdown in the US and EU during 2022.

ASEAN Foreign Direct Investment Inflows Reach Record High

Economic forecasts cut as COVID-19 response hinders China's expansion, ADB said.

China's Growth Seen Lagging Neighbors'

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Non-China Asian exports are still growing, but the pace of increase has slowed and will slow still further as key export destinations struggle with inflation, energy security, and rising recession risks. In year-on-year terms, the rate of overall export growth is now skirting single-digits again.

Asian Exports Are Softening

Ferdinand Marcos Jr. won the May presidential election by a landslide while simultaneously securing key posts for his allies. The Philippine economy returned to pre-Covid levels in early 2022 after 1Q GDP rose 8.3% year-on-year.

The Philippines: Triple Threat Could Weigh On Growth Momentum

The Philippines economy has shown strong growth momentum in early 2022. The surging price of world oil and gas is expected to be an important factor contributing to a further sharp deterioration in the current account balance for the calendar 2022.

Philippines Economy Resilient Despite Global Headwinds

The ASEAN region has shown a strong rebound in manufacturing output during October. As a result of the severe negative impact of the COVID-19 pandemic and widespread lockdowns and travel bans, many ASEAN economies were in deep recession during 2020.

ASEAN Manufacturing Rebounds In October, RCEP Ratification Boosts Longer-Term Economic Outlook

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Wall Street was subdued last week due to the Fed's taper talks, the spread of the COVID-19 delta variant and China's persistent crackdown on its tech sector.

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The value factor, after a long drought, is showing signs of life. To be fair, not every deeply discounted market corner has rallied.

Deep-Value ETF Report: 16 June 2021

News for iShares MSCI Philippines ETF ETF (EPHE)