Mexican stocks are not a group that is talked about much in investing circles, especially in the United States. Mexican stocks aren’t always seen as great investments, despite being our neighbors to the south.
Unlike other markets like China, Europe, and Canada, Mexico doesn’t quite have the same allure for investors. But should it? Much has been going on in the news between the US and Mexico.
Will Trump impose tariffs in a trade war? What will that mean for Mexican stocks? In this article, I’ll discuss whether you should consider adding exposure to Mexican stocks in your portfolio.
What Are Mexican Stocks? (Introduction)
Is there a Mexican Stock Market? Yes! Although it doesn’t get talked about much, the Mexican stock market trades Mexican companies. The Mexican Stock Exchange, or Bolsa Mexicana de Valores in Spanish, is in Mexico City. It is also known as the Mexican Bolsa, Mexbol, or BMV.
Regarding size, the Mexican Stock Exchange has 144 listings, making it the second-largest exchange in Latin America and the fifth-largest in the Americas. As of 2025, the Mexican Stock Exchange has a market cap of more than $530 billion.
The Mexican Stock Exchange was established in 1933, although the idea of a centralized Mexican stock exchange dates back to 1880. The current iteration of the Mexican Stock Exchange came when the Guadalajara and Monterrey stock exchanges merged with the Bolsa de Mexico. This merger created one unified stock exchange for the country, allowing domestic investors access to Mexican companies, foreign companies, ETFs, and even derivatives.
In 2008, under Bolsa Mexicana de Valores de CV, the Mexican Stock Exchange went public via an initial public offering (IPO). The BMV is a publicly traded company with a market capitalization of over $20 billion. It trades under the ticker symbol (BMV: BOLSAA).
What Is an ADR Stock?
Mexican companies trading publicly on US-based stock exchanges are ADR stocks. What is an ADR stock? ADR stands for American Depository Receipt and is a stock that trades on US exchanges and represents shares of a foreign-owned company. Since most companies want to trade on the US stock market, they allow American investors to have exposure to their stocks through ADR listings.
Sponsored ADRs and Unsponsored ADRs are the two different types. Sponsored ADRs have the participation of the company the stock represents. As a result, a bank or other financial institution issues unsponsored ADRs without the involvement of the underlying company.
ADR stocks are usually issued by banks that hold the real shares of the foreign company. Any US exchange, or Over-the-Counter (OTC markets, can list them.
The price of the ADR stock is based on the price of the foreign stock as it trades on its home stock market. They are listed in US dollars and can even pay dividends to US shareholders!
Best Mexican Stocks 2026
Are you looking to add exposure to Mexico to your stock portfolio? If you’ve read this far into the article, you might as well check out my recommendations for investing in our neighbors down south.
You might recognize some of these companies, but here are my choices for the best Mexican stocks.
Fomento Economico Mexicano (BMV: FMX)
Fomento Economico Mexicano is the largest company that trades in Mexico by market capitalization. The company, also known as FEMSA, is Mexico’s largest convenience store operator and owns chains of pharmacies and fuel stations, among other businesses. It is also the largest independent Coca-Cola bottling group in the world.
Fomento Economico Mexicano has a market cap of $160 billion, more than triple the value of the next largest Mexican stock.
It is a component of the S&P Latin America 40 index that tracks the 40 largest companies in Latin American markets. FEMSA trades on the New York Stock Exchange as an ADR stock under the ticker NYSE: FMX.
Walmex (BMV: WMMVF)
Does this company sound familiar? Walmart is the Mexican and Central American arm of the American retailer Walmart. This retail powerhouse owns a significant chunk of the Mexican grocery market and operates over 3,000 regional stores. Walmex is the second-largest company by market cap on the Mexican Stock Exchange.
The company started in 1981 as a chain called Cifra. In 1991, Cifra and Walmart signed a joint agreement allowing Walmart and Sam’s Club stores to open and operate in Mexico.
Despite operating somewhat independently in Mexico, Walmart still owns a more than 70% stake in Walmex. Walmex trades as an ADR stock on the US OTC Markets under the OTC ticker WMMVY.
America Movil (BMV: AMX)
America Movil is the largest telecommunications company in Mexico and the seventh-largest worldwide by subscribers. It is based in Mexico City and was founded in 2000 after Telmex spun off its wireless services division into a stand-alone company.
This company owns a large number of wireless, internet, and cable services across multiple countries in Latin America. It also has operations across Europe in countries like Serbia, Austria, Croatia, Bulgaria, and Belarus.
The third-largest company trades on the Mexican Stock Exchange, with a market capitalization of about $44.7 billion. Like Walmex, America Movil trades as an ADR stock in the United States as NYSE: AMX.
Grupo Mexico, S.A.B De CV (OTC: GMBXF)
Grupo Mexico is a company that operates in the mining, logistics, and transportation sectors. It produces a large percentage of the copper mined in Mexico and is also a significant player in the iron ore industry.
The company also operates Mexico’s second-largest transportation infrastructure network, connecting major hubs and ports with over 11,000 kilometers of track and rail.
As of 2025, Grupo is the largest operator of mines in Mexico and Peru and one of the largest in the United States. It is the fourth-largest Mexican company by market cap and the largest miner on the Mexican Stock Exchange. It trades as an ADR stock under the ticker symbol: OTC: GMBXF.
Banorte ADR (OTC: GBOOY)
Banorte, or Grupo Financiero Banorte, SAB de CV, is one of Mexico’s four major commercial banks. It was founded in 1889 and has its headquarters in Mexico City and Monterrey.
This bank has over 1,200 branches nationwide and accepts customer deposits through over 5,000 non-financial establishments like grocery stores and pharmacies.
As you might have guessed, Banorte is the fifth-largest company on the Mexican Stock Exchange and the largest bank by market cap.
It trades on the BMV under the ticker symbol GFNORTEO and on the OTC markets in the United States as an ADR stock with the symbol $GBOOY.
EWW ETF Performance (2026 YTD)
| Year | Performance | 2026 (YTD) | +7.6% |
|---|---|
| 2025 | +32.4% |
| 2024 | +36.3% |
| 2023 | +42.1% |
| 2022 | -7.8% |
Final Thoughts on Mexican Stocks
So, now that you have read the article, are you convinced that Mexican stocks belong in your portfolio? They’re certainly not as sexy as companies in larger markets, but the Mexican Stock Exchange shows a nice variety of sectors represented by the country’s largest businesses.
Luckily for American investors, most of the biggest Mexican stocks also trade as ADRs on US stock exchanges, making adding exposure to Mexico to your portfolio easier. Keep an eye on these stocks with potential trade war threats!
