When it comes to ETFs tracking Brazil, Latin America’s largest economy, the iShares MSCI Brazil Capped Index Fund (NYSEArca: EWZ) commands the bulk of the media’s and investors’ attention. Amid rising inflation and slack economic growth that is far from what investors are accustomed to in the developing world, EWZ is 2.4% this year, though in the ETF’s defense, that is only half as bad as the iShares MSCI Emerging Markets Index Fund (NYSEArca: EEM).

Although EWZ is by far the largest Brazil ETF with over $6.95 billion in assets under management, a smaller Brazil fund merits near-term consideration. That fund is the EGShares Brazil Infrastructure ETF (NYSEArca: BRXX). [Falling Investment Cripples Brazil’s Economy]

BRXX, which often flies under the radar compared to EWZ and some other Brazil, could potentially be thrust into the spotlight as the football-mad nation struggles to prepare for the 2014 World Cup. Brazilian media reports indicate there are problems with the roof of the Arena Fonte Nova, one of the new stadiums built for the World Cup. Arena Fonte Nova is now indefinitely closed to the public. [Brazil ETFs Rebounding After Tough 2012]

Brazil is hosting the Confederations Cup, a World Cup tuneup, in a matter of days. However, “only two of the six stadiums being used at the Confederations Cup met FIFA’s deadline, meaning the governing body had to backtrack on a demand that each venue host three test events before the tournament begins on June 15,” reports Tariq Panja for Bloomberg.

News of the roof damage at Arena Fonte Nova comes just two weeks after Federation Internationale de Football Association, or FIFA, said it is concerned about the readiness of stadiums in Cuiaba, Manaus, Natal, Curitiba, Porto Alegre and Sao Paulo. Even Brazil’s national coach, Luiz Felipe Scolari, vocalized concerns about the state of a stadium in Rio that is supposed to host a match of global football heavyweights Brazil and England on June 2