While everyone is looking at the S&P 500, something interesting is happening east of the German border. Poland, Hungary and the Czech Republic are among the strongest stock markets in Europe and yet are valued much more favorably than the rest.

The figures:

The MSCI EM Eastern Europe ex Russia gained over +54% on an annualized basis in 2025 (EUR, net return), while the MSCI Emerging Markets only gained +17.76% in the same period. Nevertheless, the region's forward P/E ratio is around 13, while MSCI Europe is trading at 17. More favorably valued, stronger growth.

What is driving growth?

Poland is the main driver. The country will receive around 60 billion euros from the EU recovery fund alone, plus a further 76 billion euros from the EU cohesion fund by 2029. According to the IMF, the Polish economy will grow by around 3.1% in 2025 and consistently at a similar level in 2026. Nearshoring is doing the rest: German companies are increasingly relocating production to Poland due to its technological capabilities and competitive costs.

Hungary could be the next catalyst. Peter Magyar won the parliamentary elections on April 13, 2026 with a two-thirds majority, replacing Orban after 16 years. Magyar has announced that he will be the first to release the frozen EU funds for Hungary and correct course towards the EU and NATO. According to Avaron Asset Management, the release of EU funds could boost GDP by 8 to 9%, although this is an individual estimate by an asset manager, not an IMF consensus.

How to invest, for example:

The Amundi MSCI Eastern Europe Ex Russia UCITS ETF (LU1900066462) tracks the index with a TER of 0.50% p.a. and automatically reinvests dividends. Composition: Poland approx. 70%, Hungary approx. 21%, Czech Republic approx. 9%. Dominant sector: Banks with over 50% weighting.

For those who want to diversify actively and more broadly: The Trigon New Europe Fund (LU1687403367) invests in Poland, Hungary, the Czech Republic, Romania and the Baltic states, with a focus on value, high dividend yields and sustainable cash flow.

The cluster risk is real. Poland dominates each of these indices with around 70%, while the Czech Republic concentrates on a few heavyweights. Added to this is energy dependency: all three countries are net energy importers and therefore susceptible to geopolitical shocks such as the Iran conflict. And currency risks from the Polish zloty, Hungarian forint and Czech koruna have a direct impact on returns.

Eastern Europe is not a core position. But as an addition with a forward P/E ratio of 13 while Western Europe is trading at 17, it is at least worth considering.

Sources: MSCI factsheet (EUR, net return, as at March 2026), DAS INVESTMENT March 2026, IMF World Economic Outlook, Avaron Asset Management, justETF.

No investment advice.

Do you already have Eastern Europe in your portfolio or not? 👇

$OTP (+7 %)
$PKO (-0,98 %)

#getquin
#osteuropa#etfs
#emergingmarkets
#finanzen
#aktien
#chancen
#börse
#chancen

Hi folks,

I've been looking around the Polish market.

I came across these two dividend stocks ...

$PZU (-1,42 %)
$PKO (-0,98 %)

What do you think, is it a good idea or not?

I look forward to your feedback.

Greetings

Hello everyone,

In view of what is currently going on in Western Europe (debt crisis etc.), I wondered whether it wouldn't make sense to look beyond Western Europe.

Eastern Europe in particular shines with stable economic growth and up-and-coming companies.

I became particularly aware of:

ETFs:

$EAST (+1,86 %)
$EPOL

Poland:

$DNP (-0,25 %)
$BFT (+0,33 %)
$PKO (-0,98 %)

CZ:

$MONET (+3,72 %)
$KOMB (+1,97 %)
$EFORU (-1,89 %)
$CEZ (+0,55 %)

Hungary:

$RICHTER (+1,32 %)
$OTP (+7 %)
$ANY (+1,54 %)

Slovenia

$NLBR (+0 %)
$KRKG (+0,68 %)

I have long considered building up smaller positions here in order to diversify my portfolio.

What is your opinion on this?

After @_Caramba his contribution, I added two shares to my portfolio to keep a better eye on the value.

🇵🇱

(But the spread at this time of day is godless)

I was inspired by a Focus Money article and because many people here are asking.

I won't be investing myself, it's too short-term for me. But there are still some very interesting companies.

Feel free to write in the comments whether such "copied articles" are of any use to the community or are legally correct :)

The signs of a peace process in Ukraine are solidifying. This is triggering a run on the stock market for shares that could benefit from reconstruction

Regardless of the political interpretation, the stock market has been turning its back on the war for several days now and is betting on the coming peace. Stocks that are likely to benefit from the reconstruction in Ukraine have soared. The UBS Ukraine Reconstruction Index, which comprises 25 of these stocks, has been climbing for days and is at an all-time high. "The effects of a possible ceasefire in Ukraine are still being underestimated on the financial markets," says Bernd Meyer, Chief Investment Strategist and Head of Multi Asset at Berenberg, who is convinced that the rally will continue. Reconstruction requires enormous resources. According to estimates by the World Bank, the costs for this amount to a total of 500 billion dollars - the equivalent of Austria's gross domestic product and more than three times Ukraine's annual economic output before the war. The money is likely to benefit construction companies, suppliers, infrastructure companies and banks in particular. European companies could be the main beneficiaries - especially from neighboring countries such as Poland and Hungary, but also the Czech Republic, Austria and Germany.

With Wärtsilä $WRT1V (+0,62 %) a provider of technologies for the shipping and energy markets, and Konecranes $KCR (+2,4 %) a manufacturer of industrial cranes and drive technology, Finnish companies are also on the list of potential peace beneficiaries - as are Italian companies such as the cement and building materials manufacturer Buzzi $BZU (+2,28 %) The list is long. There is a great need for building materials, steel and cables to restore the destroyed infrastructure and energy supply. There is still no thematic fund or ETF on the beneficiaries of the reconstruction in Ukraine. Investors who want to benefit from this are therefore well advised to combine several securities into a portfolio themselves.

Banks: Erste Group Bank $EBS (-1,31 %) Powszechna K. Osz $PKO (-0,98 %) Santander Polska $SPL (-1,26 %) Polska K. Opieki $PEO (-1,23 %) Raiffeisen Bank Int.$RBI (-0,98 %)

Construction: Wienerberger $WIE (+0,32 %) Sniezka Construction $SKA Strabag $STR (+0,29 %)

Insulation: Kingspan Group $KRX (+0,91 %) Rockwool $ROCK B

Glass: Cie de Saint-Gobain $SGO (+0,09 %)

Cranes: Konecranes $KCR (+2,4 %)

Cement: CRH $CRH (-0,59 %) Buzzi $BZU (+2,28 %) Holcim $HOLN (+1,05 %) Heidelberg Mat. $HEI (+1,33 %)

Construction machinery: Caterpillar $CAT (+0,65 %)

Mining: Ferrexpo $FXPO (+0,24 %) Metso $METSO (+2,12 %)

Chemicals: BASF $BAS (-0,53 %)

Industrial gases: Air Liquide $AI (+0,51 %)

Infrastructure: Schneider Electric $SU (+2,44 %) Rexel $RXL (+1,94 %) Wärtsilä $WRT1V (+0,62 %) Weir Group $WEIR (+3,29 %)

Infrastructure (E): Siemens Energy $ENR (+3,09 %) Prysmian $PRY (+1,49 %) NKT $NKT (-0,22 %) Nexans $NEX (+1,29 %)

Agriculture: Kernel $KER (-0,06 %)

Logistics(warehouse): Kion $KGX (+2,23 %)

Steel: Arcelor Mittal $MT (+4,49 %) and for stainless steels Outukompu $OUT1V (+5,06 %)

Sanitary technology: Geberit $GEBN (+1,03 %)

Specialty chemicals: Evonik $EVK (+1,14 %) Arkema $AKE (+0,68 %) Wacker Chemie $WCH (+0,96 %) Lanxess $LXS (+0,44 %)