ISHARES MSCI BRAZIL INDEX FUND $77.79 (New York Exchange symbol EWZ; buy or sell through brokers), is an ETF that is designed to track the Brazilian stock market.
The fund’s top holdings are Petrobras preferred shares (energy), 12.5%; Petrobras common shares, 10.2%; Cia Vale do Rio Doce (mining) preferred shares, 9.4%; Cia Vale do Rio Doce common shares, 7.0%; Itau Unibanco Multiplo SA (banking), 7.8%; Banco Bradesco preferred shares (banking), 4.7%; Cia de Bebidas das Americas preferred shares (beer and other beverages), 3.2%; Cia Siderurgica Nacional SA (steel), 3.0%; Gerdau SA (steel), 2.4%; and OGX Petroleo e Gas Patricipa (energy), 2.4%.
The fund’s industry breakdown is as follows: Materials, 28.5%; Energy, 25.9%; Financials, 19.5%; Consumer Staples, 7.9%; Utilities, 7.0%; Telecommunication Services, 4.0%; Consumer Discretionary, 2.4%; Information Technology, 2.1%; and Industrials, 2.0%. The ETF has an expense ratio of 0.63%.
iShares MSCI Brazil Index Fund’s concentration in certain stocks, such as Petrobras and Cia Vale do Rio Doce, adds risk, as does its focus on the Resource sector. However, both stocks are among the highest-quality Brazilian companies available for investors, and both serve growing markets.
iShares MSCI Brazil Index Fund is a buy for aggressive investors.
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