RIO DE JANEIRO, BRAZIL - Whoever invested in S&P 10 years ago earned almost 15% a year. Those who bought into the Brazilian stock market lost an average of 5% a year in dollar terms.
This is shown by the past 10 years' performance of ETFs of 20 countries traded on the New York Stock Exchange (NYSE).
The Brazilian ETF (EWZ) shows the worst performance in the period, with an average yearly negative return of -4.7%. In the accumulated period, the index has lost 40.5% (largely because the Brazilian real collapsed). The EWZ is a reflection of . . .