However, the $5 billion does have at least one factor on its side: Rapidly approaching favorable seasonality.
December is often kind to EWZ, according to Chris Kimble of Kimble Charting Solutions, who notes that EWZ has risen in 12 of the past 13 Decembers. That is an impressive factoid when considering that December 2014 will be just the fifteenth December in which EWZ has traded (the ETF debuted in July 2000).
That is a 92% December win rate for EWZ with an average gain of 7.7%, according to Kimble.
iShares MSCI Brazil Capped ETF
Chart Courtesy: Kimble Charting Solutions