(EUNM) iShares MSCI EM USD - Ratings and Ratios

The iShares MSCI EM UCITS ETF USD (Acc) (XETRA:EUNM) is a Germany-domiciled exchange-traded fund designed to track the performance of emerging market equities. The fund replicates the Morningstar EM TME NR USD Index, which provides exposure to a broad range of companies in emerging economies. This ETF offers investors a diversified portfolio of stocks from regions such as Asia, Latin America, Eastern Europe, and the Middle East.

From a technical perspective, the ETF is currently trading at €35.46, slightly above its 20-day simple moving average (SMA) of €35.05 but below its 50-day SMA of €37.08 and 200-day SMA of €37.16. This indicates a recent uptick in price momentum following a period of consolidation. The Average True Range (ATR) of €0.74 reflects moderate volatility, suggesting that price fluctuations are relatively contained. Daily trading volume averages 59,977 shares over the past 20 days, indicating decent liquidity for an ETF of its size.

Fundamentally, the ETF manages an asset base of €2.91 billion, making it a substantial player in the emerging markets equity ETF space. Its size ensures economies of scale, typically translating to lower expense ratios and tighter tracking error relative to its benchmark. The fund’s accumulation structure means that dividends are reinvested, which can enhance long-term growth potential.

3-Month Forecast: Based on the convergence of technical and fundamental signals, the ETF is expected to trade within a range of €34.50 to €37.50 over the next three months. The recent upward crossover of the 20-day SMA above the 50-day SMA suggests improving momentum, while the index’s underlying earnings growth and valuation multiples remain supportive of emerging market equities. However, potential headwinds such as U.S. dollar strength or geopolitical risks could cap upside. The ATR of €0.74 suggests that volatility will remain manageable, with price movements likely to stay within the identified range.