Biggest Bargains in ETFs
The financial markets have been on a wild ride the past few weeks as investors worry that the mess in subprime mortgages will lead to an overall credit crunch and, eventually, a recession.
For now, at least, it looks as if that fate will be avoided. So with stocks a lot cheaper than they were just a few weeks ago, bargain-hunters are out in force. But what is really a bargain, and what was really overpriced to begin with and now is just slightly less so? First, let's examine how much some of the major exchange-traded funds have been marked down. The table below shows the change in price between the recent highs, reached on July 19 and August 31, for select domestic and international ETFs.| A Bargain, or Just Less Expensive? Change in price since market peak on July 19. |
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| Ticker | Fund Name | Price 8/31/2007 | Change vs. 7/19 | |||
| SPY | S&P 500 SPDR | 147.59 | -4.80% | |||
| MDY | S&P 400 MidCap SPDR | 157.05 | -6.30% | |||
| IWM | iShares Russell 2000 | 78.74 | -6.90% | |||
| EFA | iShares MSCI EAFE | 78.42 | -5.80% | |||
| EEM | iShares MSCI Emerging Mkts | 133.95 | -4.90% | |||
| Source: ETFResearchCenter.com | ||||||
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