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Xtrackers MSCI Eurozone Hedged Equity ETF (DBEZ) - free report >>
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Xtrackers MSCI Eurozone Hedged Equity ETF (DBEZ) - free report >>
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Hedged Eurozone ETF (DBEZ) Hits New 52-Week High
For investors seeking momentum, Xtrackers MSCI Eurozone Hedged Equity ETF (DBEZ - Free Report) is probably on radar. The fund just hit a 52-week high and is up about 33.8% from its 52-week low price of $30.40/share.
But are more gains in store for this ETF? Let’s take a quick look at the fund and the near-term outlook on it to get a better idea on where it might be headed:
DBEZ in Focus
The fund follows the MSCI EMU IMI US Dollar Hedged Index provides exposure to Eurozone equity markets, while at the same time mitigating exposure to fluctuations between the value of the U.S. dollar and euro. It holds about 666 securities in the portfolio. DBEZ is heavy on France and Germany. Financials, Industrials, Consumer Discretionary and Information Technology take a double-digit exposure in the fund. The product charges 45 bps in fees.
Why the Move?
European stocks remained stable as investors geared up for the earnings season, the propelling factor in evaluating the well-being of companies especially amid an economic downturn. Cheaper valuation, China's reopening and signs of cooling inflation have been the key tailwinds for the rally of European markets.
More Gains Ahead?
Currently, the fund has a Zacks ETF Rank #4 (Sell). So, if the ECB comes up with a market-boosting message, there could be a rally in the fund, otherwise the medium-term outlook is bleak especially given the downbeat outlook for the greenback.