Chart courtesy of YahooFinance
For many years, TKF, one of the closed end funds (CEFs) investing in Turkey, has been hovering in the top M-Index rankings during bull markets.
As is the case with many CEFs, volume is simply too low for advisors to invest any meaningful client assets. TKF, for example, sports an average daily volume of only $750,000, which makes it suitable for only small investors.
For a couple of years now, a new Turkey ETF has been on the market with enough price and volume history on record so that I added it to the StatSheet a few weeks ago.
The ticker is TUR and, just like its closed end fund cousin, it has shown impressive performance during this current buy cycle. The average daily volume has grown to a strong $25 million, making it a snap to get in and out.
In my personal M-Index Ranking list, which features only ETFs with an average trading volume of over $10 million/day, it is ranked as number 1. That even beats the favorite Brazil ETF (BRF) by a few points.
Of course, a high ranking is always accompanied by high volatility, which is why I recommend a 10% trailing stop loss point, the same that applies to all country ETFs.
However, if you’d like to add a little firepower to your portfolio, this may be one ETF worthy of further research.
Disclosure: Positions in TUR