“The disappointment over the Brazilian economy’s performance weighed on the market,” Vladimir Caramaschi, chief economist with Crédit Agricole, said in a Reuters article.

Caramaschi believes that investors are anticipating low growth and high inflation, so they are reducing their exposure to the benchmark Bovespa Index. [Brazil Infrastructure ETF: Rio, We’ve Got A Problem]

Other Brazil ETFs include:

  • Market Vectors Brazil Small-Cap ETF (NYSEArca: BRF) down 7.1% year-to-date
  • iShares MSCI Brazil Small Cap Index Fund (NYSEArca: EWZS) down 6.2% year-to-date
  • Global X Brazil Mid Cap ETF (NYSEArca: BRAZ) down 4.0% year-to-date
  • First Trust Brazil AlphaDEX Fund (NYSEArca: FBZ) down 1.9% year-to-date

iShares MSCI Brazil Index Fund

For more information on Brazil, visit our Brazil category.

Max Chen contributed to this article.

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