Wall Street Journal Fund Track column
Daisy Maxey looks at how ETFs with holdings in the
United Arab Emirates have fared amid the credit woes faced by state-owned conglomerate Dubai World
On Monday, the WisdomTree Middle East Dividend Fund
17.5 percent invested in the U.A.E. as of Friday last week, was down
6.4 percent; PowerShares NENA Frontier Countries
, which had 22.6 percent invested as of Friday, was down
2.1 percent on Monday.
Meanwhile, the broader-focused SPDR Standard & Poor's
Emerging Markets and Africa
was down 0.1 percent and the Market
Vector Shares ETF
was down about 5 percent.
On the mutual fund side of the fence, Maxey notes that T. Rowe Price Africa & Middle East Fund
, one of the worst-performers this year
among its emerging markets stock fund peers, had more than
5 percent of assets in Dubai and about 25 percent in the U.A.E. as of September 30.
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