Overview
Argentine equity via MercadoLibre, YPF, and major banks. Milei economic reform and dollarization driving a historic re-rating. MercadoLibre's 30% weight makes ARGT also a LatAm digital economy and fintech play.
Top Holdings
| Ticker | Holding | Weight |
|---|---|---|
| MELI | MercadoLibre Inc. | 29.4% |
| YPF | YPF S.A. | 10.8% |
| BMA | Banco Macro | 7.4% |
| GGAL | Grupo Fin. Galicia | 6.8% |
| LOMA | Loma Negra | 5.4% |
| CEPU | Central Puerto | 4.8% |
| SUPV | Grupo Supervielle | 4.2% |
| EDN | Edenor S.A. | 3.8% |
| BBAR | BBVA Argentina | 3.4% |
| TECO2 | Telecom Argentina | 3.0% |
Fund Details
Investment Thesis
Argentina's equity market has delivered explosive returns during the Milei administration's radical economic reform period, implementing dramatic spending cuts, currency liberalization, and deregulation at unprecedented pace. MercadoLibre's dominant 30% weight provides exposure to Latin America's largest e-commerce and fintech platform operating across 18 countries with 30%+ annual revenue growth. Argentine energy companies developing the Vaca Muerta shale formation — one of the world's largest oil and gas resources — add commodity dimension to the digital economy thesis. Binary macro risk: reform success delivers outsized gains, reversal delivers severe losses.
Who It's For
High-risk investors with a contrarian thesis on Argentine economic normalization under President Milei and those wanting indirect Latin American digital economy exposure through MercadoLibre's dominant weighting. ARGT suits those comfortable with binary emerging market outcomes in exchange for explosive upside potential during reform cycles. Best sized as a very small satellite position given the extreme political risk.
10-Year History
| Year | Close | % Chg |
|---|---|---|
| 2016 | $18.42 | -- |
| 2017 | $22.82 | +23.9% |
| 2018 | $14.42 | -36.8% |
| 2019 | $18.42 | +27.7% |
| 2020 | $20.42 | +10.9% |
| 2021 | $38.42 | +88.2% |
| 2022 | $32.42 | -15.6% |
| 2023 | $44.42 | +37.0% |
| 2024 | $45.20 | +1.8% |
| 2025 | $51.90 | +14.8% |
| Year | Yield |
|---|---|
| 2016 | 2.18% |
| 2017 | 1.98% |
| 2018 | 2.28% |
| 2019 | 2.08% |
| 2020 | 1.82% |
| 2021 | 1.62% |
| 2022 | 2.08% |
| 2023 | 1.88% |
| 2024 | 1.98% |
| 2025 | 2.18% |
| Year | AUM | % Chg |
|---|---|---|
| 2016 | $0.2B | -- |
| 2017 | $0.3B | +50.0% |
| 2018 | $0.2B | -33.3% |
| 2019 | $0.2B | 0.0% |
| 2020 | $0.3B | +50.0% |
| 2021 | $0.6B | +100.0% |
| 2022 | $0.5B | -16.7% |
| 2023 | $0.7B | +40.0% |
| 2024 | $0.8B | +14.3% |
| 2025 | $0.275B | -65.6% |
Historical figures are ETFHub estimates modelled from asset-class return patterns and may differ from official fund records. Data as of August 2026.
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