EWZ — iShares MSCI Brazil ETF
Single Country - Emerging Ranked #168 of 458 tracked ETFs · Issued by iShares
EWZ Price Performance — Growth of $10,000
Value of a $10,000 investment in EWZ over time, compared with SPY. Both lines are rebased to $10,000 on the first shared date. Based on total returns — prices are adjusted for dividends and splits, so this assumes distributions were reinvested. Hover or tap the chart for exact values.
EWZ Drawdown
The "underwater" chart: EWZ's decline from its highest prior value at each point in time. It shows how deep past losses ran and how long the fund took to recover to break-even.
What If You'd Invested in EWZ?
See what a lump sum in EWZ would have grown to, with the option to add a regular monthly contribution on top. Figures use total returns — dividends are assumed reinvested.
Past performance doesn't predict future results. Assumes contributions on the first trading day of each month, no trading costs or taxes, and reinvested distributions. History is limited to the range published in the site's daily return data.
Overview
The iShares MSCI Brazil ETF (EWZ) is a Single Country - Emerging market fund issued by iShares with $8.64 billion in assets under management. It holds a B grade (66.4/100) and ranks 6th out of 22 peers in its category, placing it 168th among all 458 tracked ETFs. The fund’s 0.59% expense ratio matches the category median, but its 1.03% dividend yield trails the sector median of 2.68%. Concentration is notable, with the top 10 holdings comprising 57.2% of assets and VALE S.A. representing the largest single position at 10.1%.
EWZ has demonstrated strong momentum, with a 1-year return of 48.19% significantly outpacing the category median of 7.84%. Short-term gains have accelerated, posting 15.39% over one month and 18.73% over three months, while year-to-date performance stands at 33.53%. The current price of $42.59 sits at 90.3% of its 52-week range, indicating it is near the upper end of its recent trading band. The fund was recently upgraded from a C to a B grade on 2026-10-08, though price history data is available for only 3.0 years.
The ETF exhibits high annualized volatility of 28.48% and a beta of 0.83, suggesting it moves slightly less than the broader market. Despite this volatility, the Sharpe ratio of 1.52 indicates favorable risk-adjusted returns relative to the risk taken. The maximum drawdown of -31.36% highlights the potential for significant peak-to-trough declines during the measured period. Liquidity remains robust, with an average daily volume of 32,014,717 shares facilitating easy entry and exit.
AI-generated summary based on the data on this page.
EWZ Top Holdings
| # | Holding | % of Net Assets | Value |
|---|---|---|---|
| 1 | VALE S.A. | 10.12% | $827M |
| 2 | Nu Holdings Ltd. | 9.45% | $772M |
| 3 | Itau Unibanco Holding S.A. | 7.66% | $626M |
| 4 | Petroleo Brasileiro S.A. (Petrobras) | 7.01% | $573M |
| 5 | Petroleo Brasileiro S.A. (Petrobras) | 6.66% | $545M |
| 6 | Banco Bradesco S.A. | 3.59% | $293M |
| 7 | B3 S.A - Brasil, Bolsa, Balcao | 3.35% | $274M |
| 8 | WEG S.A. | 3.30% | $270M |
| 9 | AXIA Energia S.A. | 3.21% | $263M |
| 10 | AMBEV S.A. | 2.81% | $229M |
Holdings as of 2026-08-31 per the fund's most recent SEC N-PORT-P filing. Top 10 holdings make up 57.2% of net assets — a rough gauge of concentration risk (the higher this figure, the more the fund's return depends on a handful of names). To see how EWZ's holdings overlap with other ETFs you own or are considering, check the Stock Overlap tool.
Which Funds Overlap With EWZ
Holding two funds that own the same companies adds cost and complexity without adding much diversification. These tracked ETFs share the most names with EWZ's top 10 — PBW overlaps most, holding 1 of the same companies as EWZ's top 10 (3.2% of EWZ's assets).
| ETF | Name | Shared Companies | EWZ Weight | Examples |
|---|---|---|---|---|
| PBW | Invesco WilderHill Clean Energy ETF | 1 | 3.2% | AXIA Energia S.A. |
Compares the top 10 reported holdings of each fund, so it's a floor on true overlap — two S&P 500 trackers overlap ~100% even when only 10 names are listed. Use the Stock Overlap tool to search by individual company.
Market Backdrop
10-Year Treasury Yield: 4.96% (as of 2026-10-22) — The yield on 10-year US Treasury bonds — the standard "risk-free rate" benchmark used to contextualize this fund’s Sharpe ratio and returns.
CBOE Volatility Index (VIX): 19.03 (as of 2026-10-22) — A real-time gauge of expected S&P 500 volatility over the next 30 days — useful context for this fund’s own volatility label.
Federal Funds Rate: 3.75% (as of 2026-09-01) — The Federal Reserve’s target policy rate, which anchors short-term borrowing costs across the economy.
What EWZ's Fees Cost You
EWZ charges an expense ratio of 0.59% a year, deducted automatically from the fund's value. Small percentages compound into real money — adjust the figures below to see the impact on your own numbers.
Assumes a constant gross return and no additional contributions — a simplification, but it isolates exactly what the expense ratio costs. Try the full fee calculator to model contributions and compare any two funds.
EWZ Dividend Income Estimator
EWZ currently yields 1.03%. Enter an amount to see the income that implies, or set a monthly income target to see the investment it would take.
Based on the fund's current trailing yield, which varies with price and distributions — treat it as an estimate, not a guarantee. Yields are not adjusted for tax.
EWZ Liquidity, Domicile & Tax Treatment
Liquidity: Average daily volume is 32.0M/day. Higher volume and a larger fund generally mean lower round-trip trading costs. AUM of $8.64B provides ample scale, supporting tight spreads and issuer commitment to keep the fund open.
Domicile & tax treatment: EWZ is a US-domiciled, SEC-registered ('40 Act) exchange-traded fund. Dividends and capital gains distributions are reported to US investors on Form 1099-DIV, and the fund is not subject to the PFIC reporting or UCITS-specific rules that apply to Irish- or Luxembourg-domiciled funds. Non-US investors should note that US-domiciled ETFs are generally subject to 30% US withholding tax on dividends (unless reduced by treaty) and to US estate tax exposure on the position — Irish-domiciled UCITS ETFs tracking the same index often avoid both, which is why non-US residents frequently prefer the UCITS equivalent where one exists. This is general information, not tax advice — consult a tax professional for your situation.
EWZ Performance History
| Period | Return |
|---|---|
| 1-Day | +1.77% |
| 1-Week | +1.82% |
| 1-Month | +15.39% |
| 3-Month | +18.73% |
| 6-Month | +7.65% |
| YTD | +33.53% |
| 1-Year | +48.19% |
| 3-Year | +71.85% |
How EWZ Compares to Other Single Country - Emerging ETFs
| Rank | Grade | Ticker | Name | 1-Year | Exp. Ratio | AUM |
|---|---|---|---|---|---|---|
| #69 | B |
EWT | iShares MSCI Taiwan ETF | +68.72% | 0.59% | $12.3B |
| #92 | B |
EPOL | iShares MSCI Poland ETF | +33.90% | 0.59% | $834M |
| #96 | B |
FLKR | Franklin FTSE South Korea ETF | +75.07% | 0.09% | $1.79B |
| #116 | B |
EWY | iShares MSCI South Korea ETF | +72.90% | 0.59% | $26.2B |
| #153 | B |
EPU | iShares MSCI Peru ETF | +41.56% | 0.59% | $548M |
| #168 | B |
EWZ | iShares MSCI Brazil ETF | +48.19% | 0.59% | $8.64B |
| #191 | B |
GREK | Global X MSCI Greece ETF | +25.16% | 0.56% | $348M |
| #320 | C |
EWW | iShares MSCI Mexico ETF | +18.81% | 0.5% | $1.49B |
| #332 | C |
THD | iShares MSCI Thailand ETF | +23.33% | 0.59% | $420M |
| #385 | D |
EWM | iShares MSCI Malaysia ETF | +8.63% | 0.5% | $288M |
| #389 | D |
ECH | iShares MSCI Chile ETF | +9.65% | 0.59% | $950M |
| #390 | D |
EZA | iShares MSCI South Africa ETF | +7.04% | 0.59% | $474M |
| #431 | D |
INDA | iShares MSCI India ETF | -15.97% | 0.61% | $5.83B |
| #432 | D |
FXI | iShares China Large-Cap ETF | -17.20% | 0.73% | $3.93B |
| #434 | D |
ASHR | Xtrackers Harvest CSI 300 China A-Shares ETF | -3.13% | 0.65% | $1.39B |
| #436 | D |
MCHI | iShares MSCI China ETF | -20.79% | 0.59% | $5.99B |
| #438 | F |
VNM | VanEck Vietnam ETF | -5.42% | 0.66% | $489M |
| #444 | F |
KSA | iShares MSCI Saudi Arabia ETF | -14.54% | 0.75% | $588M |
| #447 | F |
GXC | State Street SPDR S&P China ETF | -17.69% | 0.59% | $457M |
| #450 | F |
INDY | iShares India 50 ETF | -17.02% | 0.65% | $498M |
| #453 | F |
KWEB | KraneShares CSI China Internet ETF | -37.79% | 0.69% | $4.50B |
| #456 | F |
EIDO | iShares MSCI Indonesia ETF | -39.05% | 0.59% | $417M |