ISHARES MSCI BRAZIL INDEX FUND $70.55 - New York Exchange symbol EWZ

ISHARES MSCI BRAZIL INDEX FUND $70.55 (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), 9.4%; Cia Vale do Rio Doce (mining) preferred shares, 9.3%; Itau Unibanco Multiplo SA (banking), 9.0%; Petrobras common shares, 7.9%; Cia Vale do Rio Doce common shares, 6.8%; Banco Bradesco preferred shares (banking), 5.2%; Itausa-Investimentos Itau (conglomerate), 3.4%; Cia de Bebidas das Americas preferred shares (beer and other beverages), 3.1%; BM&F Bovespa SA (Brazilian stock exchange), 2.7%; and OGX Petroleo e Gas Patricipa (energy), 2.6%. The ETF’s industry breakdown is as follows: Materials, 26.2%; Financials, 25.1%; Energy, 20.6%; Consumer Staples, 8.8%; Utilities, 5.6%; Consumer Discretionary, 5.3%; Industrials, 3.3%; Telecommunication Services, 2.8%; and Information Technology, 2.0%. The fund has an expense ratio of 0.65%. iShares MSCI Brazil Index 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 stocks are among the highest-quality Brazilian companies available for investors, and both serve growing markets. iShares MSCI Brazil Index Fund is a buy for aggressive investors.