Barrick in particular, Deutsche warns, carries a higher debt load and could be forced to issue equity in order to meet cap-ex requirements without increasing that burden.
The MSCI Brazil (EWZ) exchange traded fund is down 8.73 percent year to date while the iShares FTSE China Xinhua 25 (FXI) ETF, the second worst performer due to a load of bank and real estate shares in that particular fund, is down 5.38 percent.