EWZ — iShares MSCI Brazil ETF
Single Country - Emerging Ranked #209 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) operates within the Single Country - Emerging category, where ETFValuer tracks a total of 22 funds. Issued by iShares, this fund manages $9.07 billion in assets and trades at a price of $36.17. It holds an overall rank of #209 out of 458 tracked ETFs across all categories and has received an ETFValuer grade of C with a score of 61.8 out of 100. The fund charges an expense ratio of 0.59% while offering a dividend yield of 2.49%. The substantial asset under management suggests significant investor adoption relative to the broader universe of 458 funds, despite its mid-tier ranking. These metrics collectively define the fund's cost structure and income profile for investors seeking exposure to Brazilian equities.
Recent price action shows a decline of 1.23% over the last day, contrasting with a 2.38% gain over the past week. Over the last month, the fund posted a 5.92% return, though this momentum reversed into a 10.04% loss over the three-month period. A recovery is evident in the six-month timeframe with a 4.27% gain, while year-to-date returns have accelerated to 13.40%. The one-year return stands at a robust 39.98%, and the three-year return is recorded at 29.03%. This pattern indicates a divergence between short-term volatility and stronger medium-to-long-term performance trends. The data reflects a trajectory where recent weekly and monthly gains have helped offset earlier quarterly declines.
The fund carries a High volatility label and exhibits a beta of 0.92, indicating price movements that are generally aligned with but slightly less sensitive than the broader market. A Sharpe ratio of 1.40 suggests that the returns generated have been efficient relative to the risk taken over the measured period. However, the maximum drawdown of -31.36% highlights the potential for significant capital erosion during adverse market conditions. This combination of high volatility and a deep drawdown implies that while the fund has delivered strong returns, it does so with considerable fluctuation. Investors should expect periods of sharp declines alongside the positive returns observed in the one-year and three-year windows.
AI-generated summary based on the data on this page.
EWZ Top Holdings
| # | Holding | % of Net Assets | Value |
|---|---|---|---|
| 1 | Vale SA | 11.14% | $1.08B |
| 2 | NU Holdings Ltd/Cayman Islands | 9.15% | $884M |
| 3 | Itau Unibanco Holding SA | 8.98% | $867M |
| 4 | Petroleo Brasileiro SA - Petrobras | 6.18% | $597M |
| 5 | Petroleo Brasileiro SA - Petrobras | 5.55% | $536M |
| 6 | Banco Bradesco SA | 3.61% | $348M |
| 7 | B3 SA - Brasil Bolsa Balcao | 3.53% | $341M |
| 8 | WEG SA | 3.12% | $302M |
| 9 | Ambev SA | 2.90% | $280M |
| 10 | Cia de Saneamento Basico do Estado de Sao Paulo SABESP | 2.85% | $275M |
Holdings as of 2026-02-28 per the fund's most recent SEC N-PORT-P filing. Top 10 holdings make up 57.0% 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 — FNDE overlaps most, holding 2 of the same companies as EWZ's top 10 (22.9% of EWZ's assets).
| ETF | Name | Shared Companies | EWZ Weight | Examples |
|---|---|---|---|---|
| FNDE | Schwab Fundamental Emerging Markets Equity ETF | 2 | 22.9% | Petroleo Brasileiro SA - Petrobras, Vale SA |
| BLOK | Amplify Blockchain Technology ETF | 1 | 9.2% | NU Holdings Ltd/Cayman Islands |
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: 4.71% (as of 2026-07-23) — 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): 18.70 (as of 2026-07-23) — 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: 3.63% (as of 2026-06-01) — 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 2.49%. 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: Quoted bid/ask spread is 0.53% and average daily volume is 23.6M/day. Tighter spreads and higher volume mean lower round-trip trading costs; this is a live-market snapshot and can widen during volatile sessions. AUM of $9.07B 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 | -1.23% |
| 1-Week | +2.38% |
| 1-Month | +5.92% |
| 3-Month | -10.04% |
| 6-Month | +4.27% |
| YTD | +13.40% |
| 1-Year | +39.98% |
| 3-Year | +29.03% |
How EWZ Compares to Other Single Country - Emerging ETFs
| Rank | Grade | Ticker | Name | 1-Year | Exp. Ratio | AUM |
|---|---|---|---|---|---|---|
| #54 | B |
FLKR | Franklin FTSE South Korea ETF | +139.48% | 0.09% | $1.33B |
| #60 | B |
EWY | iShares MSCI South Korea ETF | +143.88% | 0.59% | $24.5B |
| #66 | B |
EWT | iShares MSCI Taiwan ETF | +77.84% | 0.59% | $11.2B |
| #101 | B |
EPU | iShares MSCI Peru ETF | +76.49% | 0.59% | $524M |
| #209 | C |
EWZ | iShares MSCI Brazil ETF | +39.98% | 0.59% | $9.07B |
| #215 | C |
EPOL | iShares MSCI Poland ETF | +28.96% | 0.59% | $679M |
| #287 | C |
EWW | iShares MSCI Mexico ETF | +31.40% | 0.5% | $1.84B |
| #288 | C |
GREK | Global X MSCI Greece ETF | +26.05% | 0.56% | $281M |
| #308 | C |
EWM | iShares MSCI Malaysia ETF | +20.21% | 0.5% | $324M |
| #339 | C |
ECH | iShares MSCI Chile ETF | +29.55% | 0.59% | $1.03B |
| #342 | C |
THD | iShares MSCI Thailand ETF | +34.54% | 0.59% | $356M |
| #388 | D |
ASHR | Xtrackers Harvest CSI 300 China A-Shares ETF | +22.04% | 0.65% | $1.64B |
| #396 | D |
EZA | iShares MSCI South Africa ETF | +16.85% | 0.59% | $544M |
| #427 | D |
KSA | iShares MSCI Saudi Arabia ETF | +1.69% | 0.75% | $650M |
| #434 | D |
VNM | VanEck Vietnam ETF | +5.53% | 0.66% | $565M |
| #435 | D |
MCHI | iShares MSCI China ETF | -7.35% | 0.59% | $5.89B |
| #438 | F |
INDA | iShares MSCI India ETF | -12.78% | 0.61% | $6.87B |
| #442 | F |
GXC | State Street SPDR S&P China ETF | -3.04% | 0.59% | $435M |
| #443 | F |
FXI | iShares China Large-Cap ETF | -9.41% | 0.73% | $4.52B |
| #451 | F |
INDY | iShares India 50 ETF | -14.24% | 0.65% | $558M |
| #455 | F |
KWEB | KraneShares CSI China Internet ETF | -23.45% | 0.7% | $4.91B |
| #456 | F |
EIDO | iShares MSCI Indonesia ETF | -27.36% | 0.59% | $401M |