Global X Brazil Active ETF

BRAZ

Market cap $9.99M

The United States accused the country of unfair trade practices. The tariff will replace ones that the Supreme Court struck down.

Brazilian equities posted strong gains in the first quarter of 2026, supported by higher commodity prices, resilient domestic demand, and improving fiscal expectations. The Global X Brazil Active ETF gained 18.07% (NAV return) in the first quarter, taking 12-month returns up to 55.58%. Sector positioning and stock selection within energy and financials drove positive attribution.

Brazil's current P/E of 12.5x versus emerging markets' 16.2x suggests a potential 29% upside if re-rating occurs post-election. Risks include Lula's political resilience, judicial influence, and historical underperformance at similar P/E levels, necessitating careful timing and monitoring.

merging markets may offer investors overlooked opportunities as market uncertainty rises. Malcolm Dorson, Global X senior portfolio manager and head of emerging markets strategy, joins Wealth to break down where he sees the most upside right now.