EWZ — iShares MSCI Brazil ETF
Single Country - Emerging Ranked #232 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 is an emerging market single-country fund issued by iShares with $8.17 billion in assets under management. It holds a C grade and ranks 7th out of 22 peers in its category, placing it 232nd among all tracked ETFs. The fund’s 0.59% expense ratio matches the category median, while its 2.38% dividend yield sits slightly above the 2.24% benchmark. Concentration is notable, with the top ten holdings representing 58.7% of assets and VALE S.A. serving as the largest position at 11.5%.
Price action shows the ETF trading at 74.5% of its 52-week range, reflecting a strong upward trajectory over the past year. One-year returns of 36.16% significantly outpace the category median of 20.12%, driven by robust gains across the 1M, 3M, and 6M horizons. However, the 3-year return of 44.62% suggests a different long-term growth profile compared to recent short-term acceleration. The fund’s grade has remained unchanged at C over the last 35 tracked days, indicating stable relative performance. Historical data is limited to 3.0 years, which constrains the depth of long-term trend analysis.
With an annualized volatility of 25.16%, the fund is classified as High risk, though its beta of 0.84 indicates slightly lower sensitivity to market movements. A Sharpe ratio of 1.24 suggests that returns have adequately compensated for this elevated volatility. The maximum drawdown of -31.36% highlights the potential for significant temporary losses during downturns. Liquidity remains strong, supported by an average daily volume of over 21 million shares and a tight bid-ask spread of 0.03%.
AI-generated summary based on the data on this page.
EWZ Top Holdings
| # | Holding | % of Net Assets | Value |
|---|---|---|---|
| 1 | VALE S.A. | 11.50% | $1.17B |
| 2 | Nu Holdings Ltd. | 8.71% | $886M |
| 3 | Itau Unibanco Holding S.A. | 8.48% | $863M |
| 4 | Petroleo Brasileiro S.A. (Petrobras) | 7.28% | $741M |
| 5 | Petroleo Brasileiro S.A. (Petrobras) | 6.70% | $681M |
| 6 | B3 S.A - Brasil, Bolsa, Balcao | 3.57% | $363M |
| 7 | Banco Bradesco S.A. | 3.33% | $339M |
| 8 | AMBEV S.A. | 3.19% | $325M |
| 9 | WEG S.A. | 3.05% | $310M |
| 10 | Companhia de Saneamento Basico do Estado de Sao Paulo - SABESP | 2.87% | $292M |
Holdings as of 2026-05-31 per the fund's most recent SEC N-PORT-P filing. Top 10 holdings make up 58.7% 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.
Market Backdrop
10-Year Treasury Yield: 4.78% (as of 2026-09-04) — 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): 15.30 (as of 2026-09-07) — 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 2026-08-01) — 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 2.38%. 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 0.03% and average daily volume is 21.3M/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 $8.17B 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 | +1.98% |
| 1-Week | +7.16% |
| 1-Month | +9.25% |
| 3-Month | +15.69% |
| 6-Month | +5.06% |
| YTD | +21.05% |
| 1-Year | +36.16% |
| 3-Year | +44.62% |
How EWZ Compares to Other Single Country - Emerging ETFs
| Rank | Grade | Ticker | Name | 1-Year | Exp. Ratio | AUM |
|---|---|---|---|---|---|---|
| #58 | B |
EWT | iShares MSCI Taiwan ETF | +93.76% | 0.59% | $11.8B |
| #61 | B |
FLKR | Franklin FTSE South Korea ETF | +160.70% | 0.09% | $1.70B |
| #66 | B |
EWY | iShares MSCI South Korea ETF | +163.72% | 0.59% | $27.7B |
| #73 | B |
EPOL | iShares MSCI Poland ETF | +48.26% | 0.59% | $848M |
| #107 | B |
EPU | iShares MSCI Peru ETF | +68.55% | 0.59% | $564M |
| #154 | C |
GREK | Global X MSCI Greece ETF | +40.99% | 0.56% | $343M |
| #232 | C |
EWZ | iShares MSCI Brazil ETF | +36.16% | 0.59% | $8.17B |
| #268 | C |
EZA | iShares MSCI South Africa ETF | +32.68% | 0.59% | $578M |
| #311 | C |
ECH | iShares MSCI Chile ETF | +23.79% | 0.59% | $1.04B |
| #360 | C |
THD | iShares MSCI Thailand ETF | +31.32% | 0.59% | $346M |
| #364 | C |
EWW | iShares MSCI Mexico ETF | +24.22% | 0.5% | $1.82B |
| #385 | D |
EWM | iShares MSCI Malaysia ETF | +16.46% | 0.5% | $325M |
| #416 | D |
KSA | iShares MSCI Saudi Arabia ETF | +6.18% | 0.75% | $639M |
| #423 | D |
ASHR | Xtrackers Harvest CSI 300 China A-Shares ETF | +10.49% | 0.65% | $1.57B |
| #435 | D |
INDA | iShares MSCI India ETF | -6.46% | 0.61% | $6.75B |
| #436 | D |
MCHI | iShares MSCI China ETF | -10.40% | 0.59% | $6.33B |
| #437 | D |
FXI | iShares China Large-Cap ETF | -8.37% | 0.73% | $4.23B |
| #444 | F |
GXC | State Street SPDR S&P China ETF | -6.99% | 0.59% | $474M |
| #450 | F |
VNM | VanEck Vietnam ETF | -0.13% | 0.66% | $521M |
| #451 | F |
INDY | iShares India 50 ETF | -9.07% | 0.65% | $552M |
| #455 | F |
KWEB | KraneShares CSI China Internet ETF | -30.01% | 0.69% | $5.10B |
| #456 | F |
EIDO | iShares MSCI Indonesia ETF | -24.15% | 0.59% | $502M |