EWA: I See Some Value “Down Under” In 2024 (Rating Upgrade) (NYSEARCA:EWA)

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Prasit photo/Moment via Getty Images Main Thesis & Background The purpose of this article is to evaluate the iShares MSCI Australia ETF (NYSEARCA:EWA) as an investment option at its current market price. This fund is managed by BlackRock (BLK), and its objective is to "track the investment results of an index composed of Australian equities". A little under a year ago I covered EWA and suggested that there wasn't a strong case for buying the fund. I saw some benefits to owning exposure to Australia, but there were notable drawbacks as well. Looking back, this caution made sense as EWA...