The following table shows the year-to-date returns of Latin American ADRs listed on the US exchanges:
| S.No. | Company | Ticker | Stock Price as of Nov 2, 2015 | Year-T0-Date Change (%) | Industry | Country |
|---|---|---|---|---|---|---|
| 1 | Pampa Energia | PAM | $24.44 | 143.91% | Electricity | Argentina |
| 2 | Controladora Vuela Compania de Aviacion S.A.B. de C.V. - Volaris | VLRS | $17.30 | 91.80% | Travel & Leisure | México |
| 3 | Edenor | EDN | $17.66 | 88.47% | Electricity | Argentina |
| 4 | IRSA PROPIEDADES COMERCIALES S A | IRCP | $38.70 | 80.00% | Real Estate Inv&Serv | Argentina |
| 5 | Transportadora de Gas del Sur | TGS | $6.17 | 76.29% | Oil & Gas Producers | Argentina |
| 6 | BBVA Banco Frances | BFR | $22.84 | 65.63% | Banks | Argentina |
| 7 | Grupo Financiero Galicia | GGAL | $25.93 | 63.18% | Banks | Argentina |
| 8 | GRUMA - B Shares | GMK | $60.00 | 44.16% | Food Producers | México |
| 9 | Grupo Aeroportuario del Pacifico | PAC | $90.52 | 43.23% | IndustrialTransport. | México |
| 10 | Banco Macro | BMA | $60.88 | 39.22% | Banks | Argentina |
| 11 | Embotelladora Andina - B Shares | AKO.B | $22.10 | 30.00% | Beverages | Chile |
| 12 | Compania Cervecerias Unidas | CCU | $23.85 | 28.57% | Beverages | Chile |
| 13 | Petrobras Argentina S.A. | PZE | $6.35 | 28.54% | Oil & Gas Producers | Argentina |
| 14 | Cresud | CRESY | $12.95 | 28.34% | Food Producers | Argentina |
| 15 | Grupo Aeroportuario del Sureste | ASR | $154.89 | 17.48% | IndustrialTransport. | México |
| 16 | IRSA Inversiones y Representaciones | IRS | $17.95 | 16.79% | Real Estate Inv&Serv | Argentina |
| 17 | Grupo Aeroportuario (OMA) | OMAB | $41.80 | 15.02% | IndustrialTransport. | México |
| 18 | Fibria Celulose | FBR | $13.78 | 13.60% | Forestry & Paper | Brazil |
| 19 | Fomento Economico Mexicano | FMX | $97.79 | 11.09% | Beverages | México |
| 20 | Industrias Bachoco | IBA | $54.99 | 10.24% | Food Producers | México |
| 21 | Telecom Argentina | TEO | $19.89 | 2.79% | Mobile Telecom. | Argentina |
| 22 | BrasilAgro | LND | $2.90 | -2.36% | Real Estate Inv&Serv | Brazil |
| 23 | Banco Santander Chile | BSAC | $19.15 | -2.89% | Banks | Chile |
| 24 | Nortel Invesora | NTL | $19.59 | -6.67% | Mobile Telecom. | Argentina |
| 25 | Banco de Chile | BCH | $63.70 | -7.60% | Banks | Chile |
| 26 | Ultrapar | UGP | $17.59 | -7.76% | Gas,H20&Multiutility | Brazil |
| 27 | Coca-Cola Femsa - L Shares | KOF | $77.73 | -10.16% | Beverages | México |
| 28 | Vina Concha y Toro | VCO | $33.45 | -11.44% | Beverages | Chile |
| 29 | Centrais Eletricas Brasileiras-Eletrobras | EBR.B | $2.53 | -11.85% | Electricity | Brazil |
| 30 | Braskem | BAK | $11.34 | -12.16% | Chemicals | Brazil |
| 31 | Santander Mexico | BSMX | $9.05 | -12.64% | Financial Services | México |
| 32 | Grupo Televisa | TV | $29.68 | -12.86% | Media | México |
| 33 | Cencosud | CNCO | $6.63 | -13.78% | Food &Drug Retailers | Chile |
| 34 | Gafisa | GFA | $1.31 | -14.94% | HouseGoods&HomeConst | Brazil |
| 35 | Tenaris | TS | $25.48 | -15.66% | Indust.Metals&Mining | Argentina |
| 36 | Endesa-Empresa Nacional de Electricidad | EOC | $37.66 | -15.82% | Electricity | Chile |
| 37 | Grupo Simec - B Shares | SIM | $8.31 | -15.89% | Indust.Metals&Mining | México |
| 38 | Ternium | TX | $14.68 | -16.78% | Indust.Metals&Mining | Argentina |
| 39 | Soc. Quimica y Minera de Chile | SQM | $19.57 | -18.05% | Chemicals | Chile |
| 40 | Enersis | ENI | $13.12 | -18.15% | Electricity | Chile |
| 41 | YPF | YPF | $21.60 | -18.40% | Oil & Gas Producers | Argentina |
| 42 | Embraer | ERJ | $29.90 | -18.88% | Aerospace & Defense | Brazil |
| 43 | America Movil | AMX | $17.76 | -19.93% | Mobile Telecom. | México |
| 44 | AMBEV S.A | ABEV | $4.95 | -20.42% | Beverages | Brazil |
| 45 | America Movil - Series A | AMOV | $17.50 | -20.89% | Mobile Telecom. | México |
| 46 | Grupo Aval Acciones y Valores S.A. | AVAL | $8.12 | -21.85% | Financial Services | Colombia |
| 47 | Cementos Pacasmayo SAA | CPAC | $6.78 | -22.34% | Construct.&Materials | Peru |
| 48 | Corpbanca | BCA | $13.51 | -24.02% | Banks | Chile |
| 49 | Banco Santander Brasil | BSBR | $3.61 | -28.09% | Banks | Brazil |
| 50 | Bancolombia - Pref | CIB | $34.15 | -28.68% | Banks | Colombia |
| 51 | SABESP | SBS | $4.44 | -29.41% | Gas,H20&Multiutility | Brazil |
| 52 | Petroleo Brasileiro-Petrobras | PBR | $5.02 | -31.23% | Oil & Gas Producers | Brazil |
| 53 | BRF S.A. | BRFS | $15.34 | -34.30% | Food Producers | Brazil |
| 54 | Compania de Minas Buenaventura | BVN | $6.28 | -34.31% | Mining | Peru |
| 55 | Cemex | CX | $6.36 | -35.10% | Construct.&Materials | México |
| 56 | Comp. Paranaense de Energia-COPEL | ELP | $8.48 | -35.61% | Electricity | Brazil |
| 57 | CPFL Energia | CPL | $8.10 | -38.40% | Electricity | Brazil |
| 58 | Centrais Eletricas Brasileiras-Eletrobras | EBR | $1.30 | -39.25% | Electricity | Brazil |
| 59 | Companhia Siderurgica Nacional-CSN | SID | $1.25 | -39.90% | Indust.Metals&Mining | Brazil |
| 60 | Itau Unibanco | ITUB | $7.10 | -39.98% | Banks | Brazil |
| 61 | Telefonica Brasil | VIV | $10.46 | -40.84% | Fixed Line Telecom. | Brazil |
| 62 | Banco Bradesco | BBDO | $6.31 | -41.41% | Banks | Brazil |
| 63 | Ecopetrol | EC | $9.70 | -43.34% | Oil & Gas Producers | Colombia |
| 64 | Vale | VALE | $4.53 | -44.62% | Indust.Metals&Mining | Brazil |
| 65 | Banco Bradesco | BBD | $5.53 | -50.36% | Banks | Brazil |
| 66 | TIM Participacoes | TSU | $10.86 | -51.10% | Mobile Telecom. | Brazil |
| 67 | Latam Airlines Group | LFL | $5.64 | -52.92% | Travel & Leisure | Chile |
| 68 | Gerdau | GGB | $1.45 | -59.15% | Indust.Metals&Mining | Brazil |
| 69 | Companhia Energetica de Minas Gerais-CEMIG | CIG | $1.94 | -60.97% | Electricity | Brazil |
| 70 | Companhia Brasileira de Distribuicao-CBD | CBD | $13.64 | -62.96% | Food &Drug Retailers | Brazil |
| 71 | Avianca Holdings S.A. | AVH | $4.18 | -64.36% | Travel & Leisure | Colombia |
| 72 | Companhia Energetica de Minas Gerais-CEMIG | CIG | $1.76 | -67.10% | Electricity | Brazil |
| 73 | Grana y Montero S.A.A. | GRAM | $3.96 | -68.67% | Construct.&Materials | Peru |
| 74 | ICA | ICA | $1.53 | -68.90% | Construct.&Materials | México |
| 75 | Oi | OIBR | $0.85 | -74.63% | Fixed Line Telecom. | Brazil |
| 76 | Gol | GOL | $0.88 | -84.70% | Travel & Leisure | Brazil |
Source: BNY Mellon
A few observations:
- Pampa Energia(PAM) of Argentina has shot up by nearly 144% so far this year. All Argentina ADRs are on fire this year due to the most likely change in the country’s leadership.
- Among the Latin American airlines, Mexico-based Volaris(VLRS) has performed very well.
- Bancolombia(CIB) has recovered strongly from the lows reached during the September selloff but is still off about 29% year-to-date. The bank is an excellent way to gain exposure to Colombia.
- Brazilian stocks are some of the worst performers. Former high-fliers such as Petrobras and SABESP are trading in the low single digits.
Disclosure: Long BCH,BSAC,BCA,PBR,ITUB,BBD
