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Brazil’s run-off elections are scheduled to take place at the end of this month. Whoever the country’s new leader will be could determine the future of this growing economy and its exchange traded funds (ETFs).

The country’s new leader will have big shoes to fill. The current president, Luiz Inacio Lula da Silva, is a former auto worker and union leader. Under Lula, Brazil’s middle class has expanded rapidly and economic growth has been around 7% a year, Annie Murphy for MarketPlace reports. The run-off will take place on Oct. 31.

U.S. investors aren’t the only ones finding Brazil an appealing destination these days. Chinese Sinopec is investing $7.1 billion into Respol Brazil. This represents the largest investment by a Chinese company in South America. Matt Theal for Minyanville reports that Sinopec will get a 40% stake for its billions and values Respol at $17.8 billion.

Rodrigo Viga Gaier and Denise Luna for Reuters reports that commodity exports and a consumer credit boom have kept Brazil’s economy strong, although expansion has cooled a bit in recent months. Most Brazil-focused ETFs are positive year-to-date, including:

  • iShares Brazil MSCI Brazil (NYSEArca: EWZ): up 5.2% year-to-date
  • Market Vectors Brazil Small-Cap ETF (NYSEArca: BRF): up 16.3% year-to-date
  • Emerging Global Shares Brazil Infrastructure (NYSEArca: BRXX): up 15.7% since Feb. 24 inception
  • SPDR S&P Emerging Latin America ETF (NYSEArca: GML): up 8.5% year-to-date
  • Global X Brazil Consumer (NYSEArca: BRAQ): up 22.2% since July 8 inception

To play Brazil’s economy with some added oomph, the ProShares Ultra MSCI Brazil (NYSEArca: UBR) is an option.

Tisha Guerrero contributed to this article.

Source: Brazil ETFs Wait for New President