Data suggest some risk-tolerant traders are using leverage to bet on a recovery in Brazilian stocks. Last week, volume in the Direxion Daily Brazil Bull 3x Shares (NYSEArca: BRZU) was 17.3% above the trailing 20-day average, according to Direxion data.

Over the past month, BRZU has seen modest creation activity and entering Monday, the ETF was the second-best of Direxion’s triple-leveraged bullish funds on a month-to-date basis, trailing only the Direxion Daily China 3x Bull (NYSEArca: YINN). [Increased Action in Leveraged International ETFs]

iShares MSCI Brazil Capped ETF

ETF Trends editorial team contributed to this post. Tom Lydon’s clients own shares of EEM.