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
3.5 B
ASSETS UNDER MGMT
58 bp
EXPENSES
Fund Basics
| Fund sponsor | Barclays Global Investors |
| Category | Emerging |
| Asset class | Equity |
| Website | link... |
| Inception date | Jul 10, 2000 |
| Assets (mns) | $3,475 |
| Expense ratio | 58 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Semi-Annually |
| Taxation | 1099 |
| Stock selection | Market Cap |
| Weighting | Market Cap |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| NU HOLDINGS LTD. CLASS A | 10.0 % |
| VALE SA | 9.5 % |
| PETROBRAS - PETROLEO BRAS-PR | 8.2 % |
| PETROBRAS - PETROLEO BRAS | 7.5 % |
| ITAU UNIBANCO HOLDING SA | 7.5 % |
| WEG SA | 4.4 % |
| BANCO BRADESCO SA-PREF | 3.1 % |
| AMBEV-SA | 3.0 % |
| BM&FBOVESPA SA | 2.5 % |
| SUZANO PAPEL E CELULOSE SA | 2.5 % |
Constituent Breakdown
| Number of holdings | 49 |
| Herfindahl-Hirschman Index | 478 |
| Wgt avg mkt cap (mns) | $32,018 |
| Large cap (>$10bn) | 62.8% |
| Mid cap ($2-10bn) | 27.4% |
| Small cap (<$2bn) | 0.5% |
| Developed mkts. | 11.0% |
| Emerging mkts. | 89.0% |
Country Exposure
 |
BRAZIL | 88.4 % |
 |
CAYMAN ISLANDS | 10.0 % |
Historical Performance
Standardized Performance (as of 11/30/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | -23.2% | -18.3% | -1.6% | 6.1% | -3.1% | -0.2% | 5.0% | Volatility | 20.2% | 20.7% | 24.9% | 28.0% | 38.2% | 36.0% | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.83 | 27% |
| MSCI EAFE | 0.85 | 28% |
| MSCI Emg Mkts | 0.63 | 16% |
Liquidity Measures
| Avg. volume (000) | 21,373 |
| Turnover | 15.7% |
| Avg. Bid/Ask (% of price) | 0.03% |
| ADV of underlying (mns) | $3,083 |
Technical Indicators
| Recent close | $25.52 |
| 30d moving avg. | $28.78 |
| Annualized volatility | 27.8% |
| Relative strength (RSI) | 43 |
| Short interest (ETF) | 20.6% |
| Short interest (underlying) | 0.0% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. EWZ |
Expenses vs. EWZ |
ALTAR Score™ vs. EWZ |
|---|---|---|---|---|
| FLBR | Franklin FTSE Brazil ETF | 75.9% | -39 bp | +2.8% |
| FLLA | Franklin FTSE Latin America ETF | 51.2% | -39 bp | +2.6% |
| FBZ | First Trust Brazil AlphaDEX Fund | 39.8% | +22 bp | +2.7% |
| FLN | First Trust Latin America AlphaDEX Fund | 32.7% | +22 bp | -2.3% |
| BRAZ | Global X Brazil Active ETF | 31.0% | +17 bp | +0.2% |
| ILF | iShares Latin America 40 ETF | 23.9% | -10 bp | 0.0% |
| FTHF | First Trust Emerging Markets Human Flourishing ETF | 13.8% | +17 bp | -1.7% |
| DVYE | iShares Emerging Markets Dividend ETF | 13.5% | -9 bp | +8.2% |
| EMDM | First Trust Bloomberg Emerging Market Democracies ETF | 12.3% | +17 bp | -2.6% |
| DEM | WisdomTree Emerging Markets High Dividend Fund | 10.8% | +5 bp | +8.2% |
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
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024E | 2025E | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates
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Valuation Metrics
| 2023 | 2024E | Fwd Est | 2025E | |
| 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 11/29/2024
Peer Group Comparison Sample data. Subscribe for access.
Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
EWZ
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
OVERWEIGHT
Above average appreciation potential. A rating of OVERWEIGHT is assigned to ETFs with ALTAR Scores in the 4th quintile (ranking higher than 60%-80%) of their category. Typically, funds in this category consist of stocks trading at attractive valuations and/or having above-average fundamentals.
ALTAR Score™
EWZ
10.5%
Cat. Avg
7.6%
ALTAR Score™ Calculation
Category Overview
There are 165 funds in the Emerging Equity category, with an average ALTAR Score™
of 7.6% and a standard deviation of
4.0%. EWZ's ALTAR Score™ is approximately
0.7 standard deviations
above
the category average. This places EWZ in the 76th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
EWZSELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Passive Emerging Market Equity ETFs |
| # of ETFs | 53 |
| Avg. Expense Ratio | 52.8 bp |
| Std. Deviation | 23.2 bp |
| EWZ (58 bp) Percentile rank | 61 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| EWZ | 58.0 | 3.2 | 61.2 |
| Peer Avg. | 57.4 | 20.9 | 78.3 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .