chris fords - rotten dog thursday, page-93

Here is a chart of the iShares Australian ETF on the NYSE. Its a good approximation for the XJO if it were to trade in US dollars:



In the eyes of foreign investors, the XJO has outperformed by many times over that period, though its a leveraged, hence volatile trade. Unfortunately gains are diluted for domestic investors by the rampaging AUD which seems to be leading equities, rather than following, as it did on the way up.