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ETF Investing: Italy ETF down for 5th straight day after election

The largest exchange-traded fund to track Italy’s equity market fell on Monday, in the wake of a national election that yielded no clear-cut winner and added to the region’s political uncertainty.

The iShares MSCI Italy ETF EWI, -0.38% fell 1.5% and was on track for its fifth straight daily decline. The single-country fund, one of the most popular ways to get exposure to specific equity markets, has had outflows of $34.4 million thus far this year, according to FactSet data. It has $710.5 million in assets.

The fund has tumbled 9.9% from a recent closing high hit in late January, though it remains up 1.9% for 2018, having been supported by “an improving economic picture,” according to Chris Dhanraj, head of ETF investment strategy at BlackRock.

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