Greece - Best Performing Country in 2012?

The 4.5% gain in the S&P 500 during the month of January is more than impressive, but the Greeks are laughing at the US today.

The Global X FTSE Greece 20 ETF ($GREK) is up 37% so far in 2012 and easily outpacing all other single-country ETFs. The ETF is made up of 20 Greek stocks that got decimated in 2011 as the financial crisis in the country hit full-tilt.

The two stock in the top ten in the ETF that trade on a major US exchange are Coca-Cola Hellenic Bottling Co. ($CCH) and National Bank of Greece ($NBG), they are up 12% and 82%, respectively.

The rest of the Top 5 Single-Country ETFs in 2012:

1. iShares S&P India Nifty 50 ETF ($INDY) up 21%
2. iShares MSCI Turkey ETF ($TUR) up 18%
3. iShares MSCI Poland ETF ($EPOL) up 18%
4. Market Vectors Vietnam ETF ($VNM) up 16%