ISHARES MSCI BRAZIL INDEX FUND $69.18 (New York Exchange symbol EWZ; buy or sell through brokers), is an exchange traded fund that is designed to track the Brazilian stock market.
The fund’s top holdings are Petrobras preferred shares (energy), 10.2%; Cia Vale do Rio Doce (mining) preferred, 8.7%; Itau Unibanco Multiplo SA (banking), 8.1%; Petrobras common, 7.7%; and Banco Brandesco (banking) preferred, 5.7%.
The fund’s concentration in certain stocks, such as Petrobras and Cia Vale do Rio Doce, adds risk, as does its focus on the resource sector. However, both are high-quality stocks. Brazil’s economy is forecast to grow at a rate of 4.5% in 2012.
The ETF was launched on July 10, 2000. It has an expense ratio of 0.59%.
iShares MSCI Brazil is a buy for safety-conscious investors willing to accept some risk.
