FYI; It comes as no surprise that the biggest losers today are ETFs tied to Europe. The Vanguard FTSE Europe ETF (VGK | A-97) is down 8.7%, while the WisdomTree Europe Hedged Equity Fund (HEDJ | B-47) is down 6.3%.
At the same time, the largest fund tied specifically to the U.K., the iShares MSCI United Kingdom ETF (EWU | A-91), dropped 8.9% on the session so far.
Interestingly, excluding currency fluctuations, U.K. stocks are notably outperforming their European counterparts. The iShares Currency Hedged MSCI United Kingdom ETF (HEWU | F-40) is only down 1.9%.
HEWU hedges its currency exposure, helping it avoid the affects of today's wild swings in the foreign exchange markets. The British pound is down 7.3% against the U.S. dollar after earlier reaching a 31-year low of 1.32 to the greenback.
The euro is down a more modest 2.3% against the dollar to 1.11, after earlier reaching its lowest level since March.
Regards,
Ted
http://www.etf.com/sections/features-and-news/best-worst-etfs-after-brexit-shocker?nopaging=1
