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Best Country ETFs for March – Seasonality Analysis

By Piero Fabio Cingari
3 min read

Best Country ETFs in March 202

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March seasonality reveals clear winners and losers among country ETFs. Analysis of historical March performance shows specific markets consistently outperform while others face seasonal headwinds.

Top Country ETFs in Marc

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Based on historical March performance data:

RankETFCountryAvg March ReturnWin RateYears
1EWWMexico+3.50%85.0%20
2EWYSouth Korea+3.10%75.0%20
3EZASouth Africa+2.88%75.0%20
4EWSSingapore+2.72%90.0%20
5EWDSweden+2.21%65.0%20

March Leaders Analysi

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Mexico ETF Delivers Highest Returns

The iShares MSCI Mexico ETF (EWW) posts the strongest March average return at +3.50% with 85.0% win rate over 20 years.

March marks 17 positive returns and 3 negative returns across two decades of data.

South Korea ETF Shows Strong March Performance

The iShares MSCI South Korea ETF (EWY) shows +3.10% average March gains with 75.0% win rate over 20 years.

This equals 15 positive March periods against 5 negative periods since 2006.

South Africa ETF Demonstrates Solid Performance

The iShares MSCI South Africa ETF (EZA) shows +2.88% average March returns with 75.0% win rate over 20 years.

This translates to 15 positive March returns out of 20 years tracked.

Singapore ETF Shows Exceptional Consistency

The iShares MSCI Singapore ETF (EWS) shows +2.72% average March returns with 90.0% win rate over 20 years.

This translates to 18 positive March returns out of 20 years tracked.

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Weakest March Performer

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Several country ETFs show consistent March weakness:

RankETFCountryAvg March ReturnWin RateYears
1GREKGreece-3.16%50.0%14
2UAEUAE-1.90%54.5%11
3VNMVietnam-1.62%50.0%16
4EMXCEM ex-China-1.80%55.6%9
5ENORNorway-0.84%50.0%14

Greece ETF Shows Weakest March Returns

The iShares MSCI Greece ETF (GREK) posts -3.16% average March returns with 50.0% win rate over 14 years. This equals 7 positive March periods against 7 negative periods.

Vietnam ETF Demonstrates March Challenges

The VanEck Vietnam ETF (VNM) shows -1.62% average March returns with 50.0% win rate over 16 years.

This translates to 8 positive March returns and 8 negative returns.

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Understanding March Pattern

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March seasonality data spans multiple market cycles and economic environments. The patterns persist across different timeframes.

Mexico ETF (EWW) shows the highest average March return at +3.50% over 20 years.

Singapore ETF (EWS) leads March consistency with 90.0% win rate across 20 years of data.

Greece ETF (GREK) demonstrates the weakest March performance with -3.16% average returns over 14 years.

Historical patterns provide context but don't guarantee future performance.

Summar

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March seasonality analysis reveals Mexico ETF (EWW) as the strongest March performer with +3.50% average returns and 85.0% win rate over 20 years.

South Africa ETF (EZA) and South Korea ETF (EWY) both show 75.0% win rates with strong average returns.

Singapore ETF (EWS) demonstrates exceptional consistency with 90.0% win rate.

Greece ETF (GREK) shows the weakest March track record with -3.16% average returns over 14 years.

Complete seasonal patterns available through our seasonality tool.

FA

Q

Which country ETF has the highest March average return? Mexico ETF (EWW) leads with +3.50% average March returns over 20 years of data.

Which ETF has the most consistent March performance? Singapore ETF (EWS) shows 90.0% win rate - 18 positive returns out of 20 March periods.

Which ETFs show 50% March win rates? Greece ETF (GREK), Vietnam ETF (VNM), and Norway ETF (ENOR) all show 50.0% win rates.

Which ETF shows the worst March performance? Greece ETF (GREK) averages -3.16% in March over 14 years of data.

Do these patterns predict future performance? No. Historical patterns provide context but don't guarantee future returns. Past performance doesn't predict future results.

CountryETFTracker is a global ETF analysis platform focused on country-level equity ETFs, helping investors compare performance, momentum, seasonality and market leadership across countries. The platform tracks US-listed country ETFs to provide a clear, data-driven view of global equity market rotation.
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