$13.46 -0.06 (-0.44%)
2/13/2012 3:23 PM

FIRST ISRAEL FD, Inc. (AMEX:ISL)

CAPS Rating: 2 out of 5

Non-diversified, closed-end management investment company that seeks long-term capital appreciation by investing primarily in Israeli securities.

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Player Avatar dollarpimp (69.43) Submitted: 1/15/2008 10:21:27 AM : Outperform Start Price: $17.90 ISL Score: -26.28

Even though I expect this ETF to outperform the S&P, I must point out that it's currently selling at a 25% premium to its NAV! Buyers at this level are one geopolitical shock away from an evaporation of this premium. I would buy GAF instead. It's heavily weighted towards South Africa (gold!) but its second largest concentration is Israel without the ridiculous premium.

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