The WisdomTree Brazilian Real Strategy (NYSE:BZF) outperformed all other non-leveraged, non-inverse exchange traded products in the U.S. today on a percentage basis, producing a +6% one-day return and outperforming the wider markets by a total of 6.37 percentage points.
Behind The Gains
BZF closed today at $17.67 per share, up $1.00 (+6.00%). Putting this move in context, the S&P 500 index — largely considered the most popular and useful benchmark for equity performance — closed down $-0.84 (-0.37%) on the day.
BZF’s trading volume today was a total of 21,189 shares, which was a decrease of 27% versus its average daily trading volume of 28,982. Rising trading volume generally an indicator of increased demand for a particular security, and is typically associated with a specific news event or trend that draws investors into or out of specific asset classes, or sectors or subsectors within those classes.
Including any dividends as well as today’s gains, BZF has now returned a total of 3.7% year-to-date, versus a 1.06% gain in the S&P 500 during the same timeframe.
A Look Under The Hood
WisdomTree Brazilian Real Fund is a Currency-focused product issued by WisdomTree Investments. Its expense ratio of 0.45% makes it the #13 cheapest ETF among 25 total funds in the Currency ETFs category.
BZF currently boasts just $24.16M in assets under management (AUM), placing it #12 of 25 ETFs in its category, and #1261 of 1920 total ETFs in the U.S. exchange traded universe. With low assets and low volume, this fund is susceptible to large one-day moves like we witnessed today.
The investment objective of the WisdomTree Dreyfus Brazilian Real Fund ETF seeks to achieve total returns reflective of both money market rates in Brazil available to foreign investors and changes in value of the Brazilian Real relative to the U.S. dollar.
BZF SMART Grade
BZF currently has an ETF Daily News SMART Grade of A (Strong Buy), and is ranked #8 of 25 funds in the Currency ETFs category.