This is an update to previous posts regarding a new position in the Brazil ETF (EWZ).
We will most likely add to our position in the coming days. It all depends on market reaction to the Federal Reserve and Jerome Powell,
The iShares MSCI Brazil Capped ETF (EWZ), the biggest Brazilian exchange traded fund.
The $9.3 billion fund is up 9.11% since entry. Our first target is 32-34 as we seek 20% before taking 1/2 off.
This ETF tracks the MSCI Brazil 25/50 Index, which gives us exposure to the biggest and most liquid companies in the country.
Click to enlarge chart.
- Materials are the biggest sector weighting, with just over 25% allocated to the sector.
- Financials represent approximately 23.73%.
- Energy is 16.8% and consumer staples 9.39%.
- Utilities, industrials and consumer discretionary weigh in at approximately 7%.
- Communications, information technology, real estate, and health care stocks are the remainder.
Brazil ETF – Top 10 Positions
| Ticker |
|---|
| VALE3 | CIA VALE DO RIO DOCE SH | Materials | – | ||||||||
| PETR4 | PETROLEO BRASILEIRO PREF SA | Energy | – | ||||||||
| PETR3 | PETROBRAS | Energy | – | ||||||||
| ITUB4 | ITAU UNIBANCO HOLDING PREF SA | Financials | – | ||||||||
| BBDC4 | BANCO BRADESCO PREF SA | Financials | – | ||||||||
| B3SA3 | B3 BRASIL BOLSA BALCAO SA | Financials | – | ||||||||
| ABEV3 | AMBEV SA | Consumer Staples | – | – | |||||||
| WEGE3 | WEG SA | Industrials | – | ||||||||
| SUZB3 | SUZANO SA | Materials | – | – | |||||||
| ITSA4 | ITAUSA INVESTIMENTOS ITAU PREF SA | Financials |
Its FOMCJoin us today in the trading room for our LIVE broadcast during market hours, as we navigate the current environment with futures currently up (+75) points.
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Happy Trading,
Vinny
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