iShares MSCI Brazil ETF
I did say that endowments poured money into two ETF names last quarter.
The other is the iShares MSCI Brazil ETF (EWZ), a fund that provides endowments with even more exposure to Brazilian equities. This ETF holds a portfolio of 85 publicly traded Brazilian stocks -- and it shouldn't come as any surprise that they're skewed toward commodity and manufacturing focused names. EWZ has actually done a pretty good jobs of pacing the S&P 500 in the last six months or so, not exactly what investors would expect from a fund that provides exposure to a very different economy thousands of miles away.Even so, it's important to remember that the reason for endowments' buying EWZ isn't likely to be a fundamental bet on Brazil. Instead, their tactical models are showing outsized strength in EWZ. Endowments increased their EWZ positions by $36.8 million last quarter.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts