The S&P 500 is down 3.3% YTD as of September 16th this year. Among the Latin American markets, Brazil’s Bovespa, Mexico’s IPC All-Share and Chile’s IPSA are off 17.5%, 8.7% and 17.7% respectively. Compared to Brazil, Chile and Argentina, the heavily US-dependent Mexico is holding up relatively well.

The five best and worst performing Latin American ADRs are noted below.

a) The Best performers:
1.Company: Fomento Economico Mexicano (FMX)
YTD Change: 21.41%
Current Price: $67.89
Sector:Beverages
Country: Mexico

2.Company: Telecomunicacoes de Sao Paulo (VIV)
YTD Change: 20.68%
Current Price: $29.53
Sector: Telecom
Country: Brazil

3.Company: Coca-Cola Femsa (KOF)
YTD Change: 13.49%
Current Price: $93.55
Sector:Beverages
Country: Mexico

4.Company: BRF – Brasil Foods  (BRFS)
YTD Change: 11.43%
Current Price: $18.81
Sector: Food Producers
Country: Brazil

5.Company: Alto Palermo (APSA)
YTD Change: 10.90%
Current Price: $17.70
Sector: Real Estate Investment and Services
Country: Argentina

b) The Worst performers:
1.Company: Cemex (CX)
YTD Change: -55.34%
Current Price: $4.60
Sector: Cement Manufacturing
Country: Mexico

2.Company: Gol (GOL)
YTD Change: $53.19%
Current Price: $7.20
Sector: Airlines
Country: Brazil

3.Company: Banco Macro (BMA)
YTD Change: -53.15%
Current Price: $23.52
Sector: Banking
Country: Argentina

4.Company: Edenor (EDN)
YTD Change: -50.11%
Current Price: $6.80
Sector: Electric Utility
Country: Argentina

5.Company: Maxcom Telecomunicaciones  (MXT)
YTD Change: -50.00%
Current Price: $1.85
Sector: Telecom
Country: Mexico

Note: Data shown above are as of market close September 19, 2011

Disclosure: Long BMA