ISHARES MSCI BRAZIL INDEX FUND $47.04 (New York Exchange symbol EWZ; buy or sell through brokers) is an ETF that is designed to track the Brazilian stock market.
Its top holdings are Petrobras (oil and gas), 10.3%; Cia Itau Unibanco Holding (banking), 8.7%; Vale do Rio Doce (mining), 8.1%; Cia de Bebidas das Americas (beer and beverages), 7.6%; Banco Brandesco, 6.4%; and BRF SA (food), 3.5%.
The ETF was launched on July 10, 2000. It has an expense ratio of 0.62%.
The fund’s resource focus and concentration in certain stocks, such as Petrobras and Vale do Rio Doce, add risk, but both are high-quality stocks.
The ETF’s long-term outlook is positive, especially as global economies rebound. But right now, sluggish exports and low resource prices continue to slow Brazil’s economic growth.
iShares MSCI Brazil is a hold.
