Downtrodden BRIC ETFs need the world’s second-largest emerging economy, Brazil, to get back on track for any chance to salvage a miserable 2013.

The iShares MSCI Brazil Index Fund (NYSEArca: EWZ) has tumbled 17% the past three months. [Brazil ETFs – Is it Time to Get in?]

Brazil is the second-largest country allocation in Guggenheim BRIC ETF (NYSEArca: EEM) after China. Russia and India round out the BRIC fund. [An ETF for an India Rebound]

India and Brazil are the worst-performing BRIC countries the last three months. [Are India ETFs Becoming The New Brazil ETFs?]

In Brazil, the economic outlook doesn’t inspire confidence. The country’s manufacturing activity declined in July for the first time since September “as slowing orders and rising costs cut short a recovery for struggling industries,” Reuters reported.

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