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The iShares MSCI Qatar ETF is designed to mirror the investment performance of an index that holds shares of companies based in Qatar.
Is QAT's expense ratio expensive, average, or a steal for its category?
Pro reveals the verdict on a 5-tier spectrum calibrated against ICI 2025 industry averages, with strategy-aware bands so the comparison is meaningful.
JPMorgan Chase and Co. lowered its stake in iShares MSCI Qatar ETF (NASDAQ: QAT) by 56.5% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 94,081 shares of the company's stock after selling 122,225 shares during the quarter. JPMorgan Chase and Co.
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The iShares MSCI Qatar ETF hasn't really made any progress over the past year, but we think this could change as the macroeconomic conditions improve. GDP growth, which likely grew at 1.5-2% last year, will expand by 2.6-2.7% this year, with a tremendous spurt in the following year (5.5%) as higher LNG capacity comes online. Qatar could control a quarter of the global LNG market by the end of this decade, while structural reforms have been put in place to generate average GDP growth of4%.
Qatar, like the rest of the Gulf, tends to track the O&G cycle, so the recent downcycle doesn't bode well for its prospects. The financials-heavy iShares MSCI Qatar ETF portfolio faces additional headwinds from the government's de-levering efforts. The QAT valuation and yield may look appealing on a trailing basis but heading into a period of potential negative revisions, I would remain sidelined.
World Cup Hosting Lifts Qatar's Real GDP Growth To 8.0% YOY In Q4; Slower Growth Ahead