So-called BRIC exchange traded funds (ETFs) were in the headlines Thursday as leaders of the emerging market countries demanded a greater role in the global financial system and an overhaul of the monetary system that relies heavily on the dollar.
The leaders of Brazil, Russia, India, China and South Africa also called for stricter oversight of commodity markets, according to Reuters.
BRIC ETFs have been volatile in April, falling recently after a spike earlier in the month. [Are BRIC Economies and ETFs Coming Back?]
BRIC ETFs include: iShares MSCI BRIC Index Fund (NYSEArca: BKF), Guggenheim BRIC ETF (NYSEArca: EEB) and SPDR S&P BRIC 40 ETF (NYSEArca: BIK).
Some ETFs following individual BRIC countries saw their performance diverge on Wednesday.
The iShares MSCI Brazil Index Fund (NYSEArca: EWZ) followed metal prices lower yesterday. Meanwhile, India ETFs rallied Wednesday as the country’s currency, the rupee, declined.
iShares MSCI BRIC
