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ETF’s To Short Some BRIC Countries, With Leverage (EPV, JPX, BZQ, SMK)

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By Douglas A. McIntyre Updated Published
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ProShares has just launched four new exchange-traded funds.  While these are not “all” BRIC countries (Brazil, Russia, India, China), BRIC investors will now get a couple of more tools to short sell those baskets when they want and with double-leverage.  Today’s launch was of UltraShort MSCI Europe (NYSE: EPV), UltraShort MSCI Pacific ex-Japan (NYSE: JPX), UltraShort MSCI Brazil (NYSE: BZQ), and UltraShort MSCI Mexico Investable Market (NYSE: SMK).  The new ETFs are the first designed to go up when markets go down in Europe, the Pacific Ex-Japan region, Brazil and Mexico.

UltraShort MSCI Europe (NYSE: EPV) tracks the MSCI Europe Index and has a correlation of -200% of the daily move.

UltraShort MSCI Pacific ex-Japan (NYSE: JPX) tracks the MSCI Pacific ex-Japan Index and has a correlation of -200% of the daily move.

UltraShort MSCI Brazil (NYSE: BZQ) tracks the MSCI Brazil Index and has a correlation of -200% of the daily move.

UltraShort MSCI Mexico Investable Market (NYSE: SMK) tracks the MSCI Mexico Investable Market Index and has a correlation of -200% of the daily move.

Because there are time differences in trading hours between U.S. and foreign markets, the net asset values of each index may not be computed as of the close of the U.S. markets.  As the U.S. is also the last market opened  on each trading day there may end up being discrepancies each day based on the moves in the U.S. markets compared to the actual closing bell averages of the competing markets.  So far we have not seen any trades go through in these ETF’s.  We’ll check back on these tomorrow to see if there is real trading volume.

Jon C. Ogg
June 18, 2009

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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