Sweden: Nordic leader with investor appeal

Article Excerpt

The free market-orientated economy of Sweden is complemented by a comprehensive welfare system. Despite the high taxes, the country ranks among the most competitive in the world and is home to a range of successful multinationals. One of these is Spotify—the global leader in music streaming services (see box next page 36). The country has struggled the last few years with households and businesses under pressure from high inflation and rising interest rates. Still, the Swedish economy is expected to return to growth this year, and its long-term outlook is strong. Here’s an ETF that provides exposure to Sweden’s top publicly listed companies. It’s for investors who want to tap the country’s attractive long-term prospects. ISHARES MSCI Sweden ETF $43.77 (New York symbol EWD; TSINetwork ETF Rating: Aggressive; Market Cap: $360.5 million) tracks the performance of Sweden’s largest publicly listed companies. Industrials account for 44% of its assets, while Financial Services (21%), Communication Services (17%), Technology (7%), Consumer Cyclicals (3%), Mining (3%), and Consumer Defensives (2%) are other…