For investors seeking momentum, iShares MSCI Brazil Small-Cap ETF (EWZS - Free Report) is probably on radar. The fund just hit a 52-week high and is up about 61.9% from its 52-week low price of $10.92/share.
But are more gains in store for this ETF? Let’s take a quick look at the fund and the near-term outlook on it to get a better idea on where it might be headed:
EWZS in Focus
The underlying MSCI Brazil Small Cap Index is a free-float adjusted market capitalization weighted index designed to measure the performance of equity securities in the bottom 14% by market capitalization of equity securities listed on stock exchanges in Brazil. The fund charges investors 59 basis points a year in fees. No stock accounts for more than 5.64% of the fund (see: all Latin American Equity ETFs here).
Why the Move?
Brazilian stocks are at record high as the key pension reform bill “cleared a key congressional hurdle.” The bill looks to generate savings of around 1 trillion reais (US$ 264 billion) over 10 years, the upper end of most analysts’ forecasts. As a result, Brazilian stocks rallied.
More Gains Ahead?
Currently, EWZS has a Zacks ETF Rank #3 (Hold) with a Medium risk outlook. However, the fund has a positive weighted alpha of 42.10. So, there is definitely still some promise for those who want to ride on this ETF a little longer.
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Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
For investors seeking momentum, iShares MSCI Brazil Small-Cap ETF (EWZS - Free Report) is probably on radar. The fund just hit a 52-week high and is up about 61.9% from its 52-week low price of $10.92/share.
But are more gains in store for this ETF? Let’s take a quick look at the fund and the near-term outlook on it to get a better idea on where it might be headed:
EWZS in Focus
The underlying MSCI Brazil Small Cap Index is a free-float adjusted market capitalization weighted index designed to measure the performance of equity securities in the bottom 14% by market capitalization of equity securities listed on stock exchanges in Brazil. The fund charges investors 59 basis points a year in fees. No stock accounts for more than 5.64% of the fund (see: all Latin American Equity ETFs here).
Why the Move?
Brazilian stocks are at record high as the key pension reform bill “cleared a key congressional hurdle.” The bill looks to generate savings of around 1 trillion reais (US$ 264 billion) over 10 years, the upper end of most analysts’ forecasts. As a result, Brazilian stocks rallied.
More Gains Ahead?
Currently, EWZS has a Zacks ETF Rank #3 (Hold) with a Medium risk outlook. However, the fund has a positive weighted alpha of 42.10. So, there is definitely still some promise for those who want to ride on this ETF a little longer.
Want key ETF info delivered straight to your inbox?
Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week. Get it free >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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