NEW YORK ( TheStreet) -- Rio de Janeiro's successful bid to host the 2016 Olympic Games underscores the tremendous progress that Brazil has made in recent years, both politically and economically.Despite a hard hit in 2008, Brazil's equity market has improved dramatically in recent months, in a trend that has been tracked by both iShares Brazil (EWZ) and Market Vectors Brazil Small-Cap ETF (BRF). For the three-month period ending Oct. 1, BRF jumped 38.01%, while EWZ rose 23.14%.
An ETF Bet for Brazil's Olympics
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