International equities continue to be a strong area of the market. Using the NDW World ETF matrix, you can gain exposure in these areas.
Beginners Series Webinar: Join us on Monday, September 15st at 2 PM (ET) for our NDW Beginners Series Webinar. The week's topic is: Understanding Relative Strength (RS) & the Matrix. Register Here
San Jose RS Institute: Register to join us in person for a 3-hour educational symposium on relative strength investing. This event is for financial advisors and will offer 3 hours of CFP/CIMA credit.
When: September 18th, 2025, 9 AM EST - 12 PM EST
Where: San Jose Marriott, 301 South Market Street, San Jose, CA 95113
Who: Speakers include...
John Lewis, CMT, Senior Portfolio Manager; Andy Hyer, CFP, CIMA, CMT, Client Portfolio Manager; Ian Saunders, Senior Research Analyst
Cost: Free! Lunch will also be provided.
Registration is limited to the first 75 advisors, so be sure to act fast!
International equities sit in second place DALI, after briefly taking the first spot in June earlier this year when they had a total of 241 signals. Since then, international equities have gained an additional 16 signals, bringing their total to 257 signals. Within our list of NDW premade matrices, several matrices could help investors generate new ideas for their portfolios. Using the “World ETF Matrix”, a matrix made up of a universe of 46 country-specific equity ETF’s, investors can identify which international markets are strongest. Among the many strong names, the Global X MSCI Greece ETF (GREK) ranks at the top of the matrix with 44 buy signals. Since the beginning of the year, GREK has climbed from 12th place to first.
Greece adopted the Euro as their official currency in the early 2000’s, although the country suffered from a large government debt, excessive public spending, lack of productivity relative to wage growth etc. By 2010, well after the great financial crisis was in full effect, yields on government debt soared as investors became weary of the countries’ credit risk. As inflation picked, Greece did not have a mechanism for keeping inflation under control, since the EU had implemented strong currency restrictions. What followed was a series of bailouts from the EU and the International Monetary Fund (IMF), under the condition that the Greece would cut its government spending, renegotiate its debt with lenders, and improve the overall austerity of the country’s financial system. Fast forward to 2025, Greece has benefited from a stronger financial system, pushing its domestic equities higher and ultimately leading to Greece taking the #1 spot in the World ETF Matrix.
The Global X MSCI Greece ETF (GREK) into Xs from a low of $40.50 in early April and completed a double top break at $48.50. The fund now sits in multi-year high territory in the mid $60’s, up over 65% year-to-date. GREK maintains a fund score of 5.83, with a slightly negative score direction of -0.15, demonstrating the strength in recent months. The fund has been in a positive trend since late 2022 and returned to an RS buy signal against the market in March of this year. Additionally, GREK maintains a yield of over 4%. Long exposure can be considered here. Traditional support can be seen on our default chart at $40-$40.50.... a ways away. With that in mind, we can adjust our view to a $.50 chart and identify several areas close by littered throughout the low $60's and upper $50's.
The correlation coefficient matrix below illustrates the relationship, ranging from -1 to +1, between the S&P 500 Total Return (SPY.TR) and the top 10 country ETFs from NDW’s World ETF Matrix, based on three years of data. The higher the positive number, the more highly correlated the country ETF is compared to SPY.TR. As shown below, the country ETFs offer a moderate correlation relative to domestic equities. If added to your portfolio, these international funds can enhance diversification, helping to reduce the impact of declines in domestic equities, thereby improving portfolio stability and mitigating overall risk
