Finishing up on the year end valuation checks for the 3 ETF’s we track

Austria, (EWO)

msci-austria-index-usd-gross-page-001

Italy (EWI):

msci-italy-index-eur-net-page-001

Portugal (PGAL):

msci-portugal-index-usd-gross-page-001

most undervalued is clearly EWO in terms of Price/Book with Forward Price/earnings

but PGAL has the highest div. yield. and the worst performing 10 year return.

So it seems to me all 3 are good value investments still.

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