Brazilian stocks have perked up in recent weeks, but equities in Latin America’s largest economy are still among the emerging world’s worst performers this year and that could be one reason behind another upcoming closure for a Brazil exchange traded fund.

Last month, Emerging Global Advisors, the parent company of emerging markets ETF specialist EGShares, said it will shutter the EGShares Brazil Infrastructure Index Fund (NYSEArca: BRXX). Also in September, Global X said it would close the Global X Brazil Financials ETF. That ETF’s last trading was Oct. 8.

EGShares is also closing the EGShares Blue Chip ETF (NYSEArca: BCHP). BCHP tracks the EGAI Developed Markets Blue Chip EM Access Index, “an equally-weighted 30 stock index designed to capture the market performance of quality developed market companies that have measurable, meaningful and growing revenue from emerging markets,” according to a statement from EGShares.

BCHP and BRXX will cease trading prior to the open of U.S. markets “on Monday, November 2, 2015. Shareholders may sell their holdings on or before Friday, October 30, 2015 and may incur customary brokerage charges. Shareholders who do not sell their holdings on or before Friday, October 30, 2015 will receive cash equal to the amount of the net asset value of their shares. The liquidating distributions are expected to be paid on or about Friday, November 6, 2015,” according to a statement issued by EGShares.

Last year, EGShares closed the EGShares China Infrastructure ETF. The firm still issues the EGShares India Infrastructure ETF (NYSEArca: INXX).

The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.

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