“The new measures pushed up emerging-market currencies and stock markets generally,” Clodoir Vieira, economist with Corretora Souza Barros, said in a Wall street Journal article. “The bonds purchases will free up more funds which should find their way into investments in emerging markets because Europe’s interest rates are so low.”

It should be noted that some Brazil-related ETFs do not hedge currency risks. Consequently, a depreciating real may diminish the overall performance of Brazil ETFs.

Brazil is one of the closely-watched BRIC countries along with Russia, India and China that are seen as important cogs in emerging markets and drivers of the global economy.

Other Brazil ETFs include:

  • Market Vectors Brazil Small-Cap ETF (NYSEArca: BRF)
  • iShares MSCI Brazil Small Cap Index Fund (NYSEArca: EWZS)
  • Global X Brazil Mid Cap ETF (NYSEArca: BRAZ)
  • First Trust Brazil AlphaDEX Fund (NYSEArca: FBZ)

iShares MSCI Brazil Index Fund

For more information on Brazil, visit our Brazil category.

Max Chen contributed to this article.