ProShares UltraShort MSCI Emerging Markets (EEV) — This exchange-traded fund (ETF) seeks to produce appreciation corresponding to the inverse of the daily performance of the MSCI Emerging Markets Index.

Since the fund is a substitute for shorting various emerging markets, it is highly volatile, as can be seen from the chart.

From Oct. 27 to Nov. 4, the EEV fell from $196 to $74. By the end of last week, it was up to $130 before falling in just two days to yesterday’s low of $75.53.

This is not for the fainthearted or those who can’t afford the risk. But for those qualified to speculate, EEV could provide the power needed to profit from an economic deflation in the emerging market countries.

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Sam Collins is a registered, fee-based portfolio manager who may be contacted samailc@cox.net. You can also check out an archive of some of his most recent market outlooks by clicking here.