EIS has delivered strong returns, supported by robust economic growth, low valuations, and a favorable currency environment. Despite the Iran conflict, Israeli markets have shown resilience, with limited long-term impact from geopolitical events historically. I rate EIS a 'hold' at current highs, preferring to buy on a 10% pullback near $80 for better risk-reward.
Highlights: As part of the permitting process for the Novador Project, Probe Gold has awarded the Environmental Impact Assessment/Statement (EIA/EIS) contract to WSP. The completed EIA/EIS will form the cornerstone of Probe Gold's impact assessment application to federal and provincial regulators, and is another significant milestone in the permitting process, bringing the Novador Project closer to production.
I have a hold rating on the iShares MSCI Israel ETF due to attractive valuation but cautionary technical indicators. EIS has corrected 11% from its all-time high, with significant exposure to underperforming Information Technology and Financial sectors. The ETF is cheap with a P/E ratio near 12x and a PEG ratio of 1.34x, but high volatility and low liquidity are concerns.
![]() EIS 11 Jun 2024 Paid | Semi Annual | $0.52 Per Share |
![]() EIS 20 Dec 2023 Paid | Semi Annual | $0.26 Per Share |
![]() EIS 7 Jun 2023 Paid | Semi Annual | $0.55 Per Share |
![]() EIS 13 Dec 2022 Paid | Semi Annual | $0.33 Per Share |
![]() EIS 9 Jun 2022 Paid | Semi Annual | $0.6 Per Share |
![]() EIS 11 Jun 2024 Paid | Semi Annual | $0.52 Per Share |
![]() EIS 20 Dec 2023 Paid | Semi Annual | $0.26 Per Share |
![]() EIS 7 Jun 2023 Paid | Semi Annual | $0.55 Per Share |
![]() EIS 13 Dec 2022 Paid | Semi Annual | $0.33 Per Share |
![]() EIS 9 Jun 2022 Paid | Semi Annual | $0.6 Per Share |
ARCA Exchange | US Country |
The company is focused on providing investment opportunities in the Israeli equity market, drawing on the performance of a market capitalization-weighted index. This index embodies large-, mid-, and small-cap segments, ensuring a broad representation of the market. Operating with a minimum of 80% of its assets invested directly in the securities that compose the underlying index or in investments that mimic their economic characteristics, the company aims to replicate the index's performance. It operates with a non-diversified fund structure, concentrating its investments more specifically than diversified funds might.
This service allows investors to partake in the Israeli equity market efficiently. By investing in a wide range of companies from various sectors, sizes, and market capitalizations, participants can potentially benefit from the growth and dynamics of Israel's economy.
The core of this offering lies in the underlying index, which is a free float-adjusted, market capitalization-weighted index. This index provides a comprehensive gauge of Israel's equity market performance, covering large-, mid-, and small-cap segments. By closely aligning the fund's investments with the composition of this index, the company seeks to offer predictable and closely indexed market returns, simulating the performance of the Israeli equity landscape.
Contrary to diversified funds, this product focuses on investing a larger share of its assets into fewer holdings that replicate the index's composition. This strategy aims to achieve significant exposure to the index's returns, albeit with potentially higher volatility and risk due to the concentration of investments. It's designed for investors seeking targeted exposure to the Israeli market.