EWZ
iShares MSCI Brazil ETF
The iShares MSCI Brazil Index fund seeks investment results that correspond to the price and yield performance of the MSCI Brazil Index. The index consists primarily of large cap stocks traded in the Brazilian market.
Emerging Market
EQUITY
Passive
MANAGEMENT STYLE
$ 9.4 B
ASSETS UNDER MGMT
59 bp
EXPENSES
Fund Basics
| Inception date | Jul 10, 2000 |
| Regulation | Open-Ended Fund |
| Fund Website | link... |
| Distributions | Semi-annual |
| Currency | USD |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| PETROBRAS - PETROLEO BRAS-PR | 9.0 % |
| VALE SA | 8.9 % |
| PETROBRAS - PETROLEO BRAS | 8.7 % |
| NU HOLDINGS LTD. CLASS A | 8.3 % |
| ITAU UNIBANCO HOLDING SA | 8.3 % |
| WEG SA | 3.5 % |
| BANCO BRADESCO SA-PREF | 3.2 % |
| AXIA ENERGIA | 3.1 % |
| BM&FBOVESPA SA | 3.1 % |
| EMBRAER | 3.0 % |
Constituent Breakdown
| Number of holdings | 46 |
| Herfindahl-Hirschman Index | 430 |
| Wgt avg mkt cap (mns) | $33,622 |
| Large cap (>$10bn) | 75.2% |
| Mid cap ($2-10bn) | 20.2% |
| Small cap (<$2bn) | 0.0% |
| Developed mkts. | 10.0% |
| Emerging mkts. | 82.8% |
Sector Breakdown
Country Exposure
 |
BRAZIL | 86.4 % |
 |
CAYMAN ISLANDS | 8.3 % |
 |
UNITED STATES | 1.6 % |
Historical Performance
Standardized Performance (as of 09/30/2026)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | 17.2% | 20.2% | 12.4% | 6.7% | 3.0% | 1.0% | -0.2% | 2.6% |
| Dividend Yield | 1.1% | 5.4% | 6.2% | 6.4% | 8.4% | 5.3% | 4.3% | 3.9% |
| Total Returns | 18.4% | 25.6% | 18.6% | 13.1% | 11.4% | 6.3% | 4.1% | 6.5% | Ann. Volatility | 26.2% | 25.5% | 25.1% | 23.8% | 27.2% | 33.8% | 37.0% | 37.3% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.96 | 24% |
| MSCI EAFE | 0.98 | 37% |
| MSCI Emg Mkts | 0.54 | 29% |
Liquidity Measures
| Avg. volume (000) | 70,276 |
| ADV traded (mns) | $2,232 |
| Turnover | 23.7% |
| Avg. Bid/Ask (% of price) | 0.03% |
Technical Indicators
| 30d moving avg. (EMA) | $37.67 |
| Relative strength (RSI) | 36 |
| MACD/Signal | -1.87/-0.64 |
| Bollinger Bands (Upper/Lower) | $48.34/$30.09 |
| Short interest (% of AUM) | 16.8% |
Distributions
Top Ten Comparable ETFs only shown here. For an extended list become an Individual or Professional subscriber. Start your FREE trial
Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. EWZ |
Expenses vs. EWZ |
ALTAR Score™ vs. EWZ |
|---|---|---|---|---|
| FLBR | Franklin FTSE Brazil ETF | 75.4% | -40 bp | +1.8% |
| FLLA | Franklin FTSE Latin America ETF | 44.0% | -40 bp | -2.4% |
| BRAZ | Global X Brazil Active ETF | 28.6% | +16 bp | +1.2% |
| FLN | First Trust Latin America AlphaDEX Fund | 26.7% | +21 bp | -3.1% |
| ILF | iShares Latin America 40 ETF | 20.4% | -12 bp | -2.7% |
| SDEM | Global X MSCI SuperDividend Emerging Markets ETF | 16.6% | +7 bp | -2.6% |
| EMDM | First Trust Bloomberg Emerging Market Democracies ETF | 13.3% | +16 bp | -6.0% |
| DVYE | iShares Emerging Markets Dividend ETF | 12.7% | -10 bp | +1.3% |
| FTHF | First Trust Emerging Markets Human Flourishing ETF | 12.6% | +16 bp | -5.6% |
| FNDE | Schwab Fundamental Emerging Markets Large Co. Index ETF | 12.1% | -20 bp | -0.9% |
Risk and Returns: EWZ vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates (USD)
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | ||
|---|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- | ||
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- | ||
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- | ||
| Book value per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
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Valuation Metrics
| Fwd Est | 2025 | 2026 | 2027 | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 11/6/2026
Peer Group Comparison
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Historical Valuation Trends Sample data. Subscribe for access.
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Rating
14.6%
ALTAR SCORE™
99th
PERCENTILE
SPECULATIVE
ETFRC RATING
There are 211 funds in the Emerging Equity category with an average
ALTAR Score™ of 8.3% and a standard deviation
of 2.4%. EWZ's ALTAR Score™ is approximately 2.7 standard
deviations above the category average. This places EWZ in the 99th percentile
among funds in the category.
Sell-Side Consensus
$43.42
PRICE TARGET
+36.7%
UPSIDE