Most popular Spain-centered ETF. As of May 31, 2007, EWP had 35 stock holdings, with Banco Santander, Telefonica, and BBVA accounting for 48% of the portfolio.

As of 5/31/2007, 18.09% of EWP portfolio. As of 5/31/2007, 7.07% of SNP portfolio.

As of 5/31/2007, 16.66% of EWP portfolio. As of 5/31/2007, 15.47% of SNP portfolio. TEF was rumored to have Spanish distribution rights to Apple's iPhone.

As of 5/31/2007, 13.30% of EWP portfolio. As of 5/31/2007, 14.90% of SNP portfolio.

As of 5/31/2007, 4.7% of EWP portfolio. As of 5/31/2007, 5.66% of SNP portfolio.

As of 5/31/2007, 4.43% of EWP portfolio. As of 11/30/2006, 1.39% of SNP portfolio. On July 5, 2007, the EU approved the takeover of Endesa by Acciona and Italy's electric utility ENEL.

Closed end mutual fund focused on Spain. As of July 5, 2007, up 11.1% YTD. However, it trades at a 20% premium over its NAV, which might mean that there's not too much upside potential.

Has no presence in Spain and might have difficulty entering the Spanish market because of competition with France's Carrefour and Spain's Corte Ingles. In July, 2006, Wal Mart abandoned the German market. In Germany, analysts say, Wal-Mart never got traction in a market characterized by unrelenting price competition, well-established discounters and the cultural resistance of German shoppers to hypermarkets, which sell fresh vegetables a few aisles away from lawn mowers.