The nearly $400 million iShares MSCI All Peru Capped Index Fund (NYSEArca: EPU) was up more than 4% in afternoon trading Friday. The exchange traded fund (ETF) has been under pressure lately as a presidential vote over the weekend led to a runoff.

Peru’s stock market jumped Friday following several days of losses tied to the runoff vote for president, Dow Jones Newswires reported. The runoff vote would take place in early June, according to reports.

“The feeling is that the fall of the last few days has been too much and what we are seeing is basically almost a technical rebound,” said Edwin Paz, a trader, according to the Dow Jones report. “We expect that there will be volatility in the next few days.”

The Peru ETF was down 21.2% so far this year through Thursday’s close, according to Morningstar.

iShares MSCI All Peru

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