Exchange traded funds following the so-called BRIC nations of Brazil, Russia, India and China are off to a great start in 2012 both in terms of performance and asset inflows.

Today we want to take a look at one of the currencies of a major BRIC player, Brazil. The iShares MSCI Brazil Index (NYSEArca: EWZ) has rallied more than 20% year to date. [BRICs Lead Emerging Market ETFs]

That said, there is an ETF tracking the movement of the Brazilian real currency that has fared well in the early going in 2012 as well. [Brazil ETFs Gear Up for World Cup, Olympics]

WisdomTree Dreyfus Brazilian Real (NYSEArca: BZF) has vaulted 10.43% year to date, but is down nearly 20% in the trailing one year period, so it is clearly still off of its highs. The ETF is unique in its class as being the only current offering that tracks the Brazilian real, and portfolio managers may note that the fund only trades about 73,000 shares on an average daily basis.