Based on the aggregated intelligence of 180,000-plus investors participating in Motley Fool CAPS, the Fool's free investing community, the iShares MSCI Spain Capped Index (EWP -0.16%) has received the dreaded one-star ranking.

With that in mind, let's take a closer look at EWP and see what CAPS investors are saying about the ETF right now.

EWP facts

Inception

March 1996

Total Net Assets

$287.2 million

Investment Approach

Seeks investment results that correspond generally to the MSCI Spain 25/50 Index. The MSCI Spain 25/50 Index consists of stocks traded primarily on the Madrid Stock Exchange. A capping methodology is applied that limits the weight of any single component to a maximum of 25% of the MSCI Spain 25/50 Index.

Expense Ratio

0.53%

1-Year / 3-Year / 5-Year Return

17.6% / 0.4% / (6.8%)

Sources: S&P Capital IQ and Motley Fool CAPS.

On CAPS, 29% of the 158 members who have rated EWP believe the ETF will underperform the S&P 500 going forward.

Just yesterday, one of those Fools, All-Star TerryHogan, touched on a major headwind facing EWP going forward:

This one is not a conviction call, all the bad news might be priced in, or possibly the bad news is not as bad as the news makes it sound. But the reason I'm giving the red thumb is because of unemployment. I mean with so many unemployed Spaniards out there, who's going to drive demand? It's going to take a long time for the economic python to swallow that pig of unemployment, and even if it does, it'll only result in a bad case of GDP indigestion.