Thirteen exchange-traded funds hit new 52-week lows Monday, a fate narrowly avoided by the iShares MSCI Brazil Index (ETF) (NYSE: EWZ). However, the largest ETF tracking Latin America's largest economy did slide 2.5 percent to a closing print less than 2 percent of the fund's recently hit 52-week low.
Over the past month, EWZ is off 18.8 percent, making it one of the worst performing single-country emerging markets ETFs during that time. EWZ has lagged the MSCI Emerging Markets Index by nearly 700 basis points over the past 30 days and calling for a reversal of that trend is becoming harder. On an annual basis, EWZ has not outperformed the benchmark emerging markets equity gauge since 2009.
“Traders have pushed down the value of Brazilian assets as President Dilma Rousseff struggles to shore up ...
/www.benzinga.com/news/16/01/6168676/the-brazil-etf-is-still-the-bearer-of-bad-news alt=The Brazil ETF Is Still The Bearer Of Bad News>Full story available on Benzinga.com
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