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Bovespa Index

The Bovespa Index tracks the performance of a representative group of stocks trading on the Sao Paulo stock exchange in Brazil. The Sao Paulo exchange is called Bovespa.

Expanded Definition

Like all indexes, this one is meant to give followers (1) a read on how the overall market is doing without looking at all the stocks and (2) a way to invest in a swath of the underlying market's sectors, by easily buying shares of an exchange-traded fund that owns shares of all of the index's member stocks.

Brazil is one of the growing economies in the early 21st century -- part of the BRIC bloc of Brazil, Russia, India, and China that captures growth investors' attention.