South Africa ETF Drops as Rand Hits Four-Year Low
June 11, 2013 at 10:55 AM EDT
The iShares MSCI South Africa (NYSEArca: EZA) is down 15% the past month and one of the worst-performing ETFs in the truly ugly emerging markets category. EZA, which doesn’t hedge its foreign currency exposure, has been hurt by a weaker rand. “South Africa’s rand fell more than 1.5% against...