Buy this ETF for the top Italian stocks

Article Excerpt

The Italian economy has recovered well from the pandemic setback, but growth slowed last year as high energy costs and interest rates weighed on consumers. Unemployment, especially among the youth, has improved, but a large, untaxed informal sector (see box next page) and high government debt remain challenges. Still, the country is home to some exceptional companies, such as Ferrari, that flourish despite the difficult overall economic situation. Here is one ETF that provides exposure to the top public companies in Italy. ISHARES MSCI ITALY ETF $37.51 (New York symbol EWI; TSINetwork ETF Rating: Aggressive; Market cap: $412.5 million) invests in publicly listed Italian companies. Financial companies account for 32% of its assets, while Consumer Cyclicals (22.0%), Utilities (16%), Energy (8%), and Industrials (9%) are other key segments. The ETF holds a portfolio of 24 stocks; the top 10 comprise 66% of its assets. Top holdings include UniCredit (Financials, 9.6%), Stellantis (Consumer Cyclical; 9.1%), Enel SpA (Utilities; 9.1%), Intesa Sanpaolo (Financials, 8.9%), Ferrari NV (Consumer Cyclical, 8.6%),…