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EWZ

GradeANew York Stock Exchange Arca

iShares MSCI Brazil ETF

Countries & Regions · IShares · Inception 2000-07-09 · SEC filings

$37.45−0.81 (−2.13%)

As of Sep 23, 2026, 3:10 PM EDT

Intraday session: down, 69 prints from 38.26 to 37.45. Range 37.42 to 38.28. Use the arrow keys to read each point.$37.60$37.80$38.00$38.2010 AM12 PM2 PM4 PM
Expense ratio
0.59%
Fund size
$8.7B
1Y return
+30.0%
Yield · Last 12 months
3.83%
Holdings
45
Volume · 30D
23.2M sh
NAV per share
$37.99
52W range
low $28.66high $42.02

The ETF.net EWZ Grade

A

72/ 100

Rank 2 of 7 in Brazil⁠

Confidence Medium

Six-pillar profile for EWZ. Scores out of 100: Cost 56, Risk 57, Mission 100, Tradability 86, Holdings 50, Durability 83. Strongest: Mission (100). Weakest: Holdings (50). Leans toward Mission.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 72 of 100 sits in the A band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    BScore 56
    Category rank3/7 · top 43%

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    AScore 100
    Category rank2/5 · top 40%

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    BScore 57
    Category rank4/7 · mid-pack

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    AScore 86
    Category rank1/7 · top 14%

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    CScore 50
    Category rank4/5 · bottom quartile

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    AScore 83
    Category rank1/7 · top 14%

Graded as of Sep 22, 2026

Our read on EWZ

ETF.net Research

AThe Brazil trade in one ticker, running since 2000: about 50 of the country's biggest listed names, with index caps so no single giant swallows the fund. Large, heavily traded, and priced right at what Brazil funds typically charge.

Stated mandate

The fund seeks to track an index of Brazilian equities and provides targeted exposure to companies in Brazil.

Why people hold it

  1. 01Has been running Brazil exposure since 2000 and hugs its MSCI Brazil 25/50 index closely, one of the stronger implementations in the Brazil group.
  2. 02A multi-billion-dollar fund and one of the most actively traded in its category, so size and spread are rarely the hard part of the trade.
  3. 03The index's 25/50 capping rules trim the largest weights, keeping a couple of Brazilian mega caps from quietly becoming the whole portfolio.ishares.com
  4. 040.59% a year, a touch under the typical Brazil fund's fee, with distributions paid quarterly.

Worth knowing

  1. 01Cheaper Brazil beta exists: FLBR charges 0.19% against 0.59% here. The extra fee buys the deeper, busier market, not extra exposure.
  2. 02About 50 large Brazilian companies, one country, one policy cycle. Concentration is the point, and it cuts both ways.
  3. 03Brazilian shares, dollar-denominated fund: moves in the real feed into results on top of the market's own swings.

EWZ Holdings

As of Sep 22, 2026, 3:21 AM
Asset class
Stocks
Holdings
45
Top-10 weight
57%
Largest holding
VALE3.SA9.3%

Sectors

  • Financials34.1%
  • Energy17.4%
  • Materials14.5%
  • Utilities12.4%
  • Industrials11.5%
  • Cons. Staples4.4%
  • Health Care2.3%
  • Communication1.8%
  • Consumer Discr.1.6%

Geography

  • Brazil97.44%
  • Cayman Islands1.59%
  • Netherlands0.96%
  • United States0.01%

Developed 1% · Emerging 99% of the foreign sleeve

The fund’s holdings, weight-ordered — page 1 of 4.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001VALE3.SACIA VALE DO RIO DOCE SH9.29%55,920,398$795M79
002NUNU HOLDINGS CLASS A8.60%53,918,986$736M151
003ITUB4.SAITAU UNIBANCO HOLDING PREF SA7.98%83,273,714$683M83
004PETR4.SAPETROLEO BRASILEIRO PREF SA7.36%66,975,700$629M84
005PETR3.SAPETROLEO BRASILEIRO SA PETROBRAS6.85%56,613,262$586M61
006BBDC4.SABANCO BRADESCO PREF3.67%90,182,678$314M72
007B3SA3.SAB3 BRASIL BOLSA BALCAO SA3.54%88,824,098$303M94
008WEGE3.SAWEG3.32%28,335,546$284M93
009AXIA3.SAAXIA ENERGIA SA3.16%25,920,456$270M89
010BPAC11.SABCO BTG PACTUAL UNT SA2.84%20,432,745$243M85
011ABEV3.SAAMBEV SA2.80%80,313,666$239M88
012EMBJ3.SAEMBRAER2.65%12,041,511$226M61
013SBSP3.SACOMPANHIA DE SANEAMENTO BASICO DE2.59%41,959,215$222M83
014ITSA4.SAITAUSA INVESTIMENTOS ITAU PREF SA2.48%78,102,256$212M79
015PRIO3.SAPETRO RIO2.04%14,226,674$174M72

Showing 1–15 of 49 holdings

EWZ Performance

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

EWZ$12,995
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,723
Sep 22, 2025 to Sep 22, 2026. EWZ $12,995. SPY $11,723. Use the arrow keys to read each point.$9,084$11,746$14,407Sep 2025Mar 2026Sep 2026

Sep 22, 2025 – Sep 22, 2026

Returns run to the Sep 22, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for EWZ. Periods over one year show the average yearly return.
PeriodEWZ
Year to date+21.6%
1 month+9.1%
3 months+11.6%
1 year+30.0%
3 years+13.5%per year
5 years+11.1%per year
10 years+6.5%per year

As of the close, with distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for EWZ
YearReturn barEWZ
2026 YTD+21.6%
2025+48.9%
2024−30.5%
2023+32.7%
2022+12.4%
2021−17.3%
2020−20.3%

EWZ in the news

EWZ Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Sep 22, 2026.
3.83%Last 12 months
Payout per share
$1.46Last 12 months
Last payment
$0.33 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Twice a year

Distribution history

2017–2026

One bar per payment. 23 payments from 2017 to 2026 YTD. Jun 20, 2017 $0.28; Dec 19, 2017 $0.37; Dec 28, 2017 $0.05; Jun 19, 2018 $0.53; Dec 18, 2018 $0.57; Jun 17, 2019 $0.53; Dec 16, 2019 $0.58; Dec 30, 2019 $0.10; Jun 15, 2020 $0.36; Dec 14, 2020 $0.28; Jun 10, 2021 $0.63; Dec 13, 2021 $1.98; Dec 30, 2021 $0.16; Jun 9, 2022 $1.50; Dec 13, 2022 $2.02; Jun 7, 2023 $0.76; Dec 20, 2023 $1.22; Jun 11, 2024 $0.91; Dec 17, 2024 $1.09; Jun 16, 2025 $0.52; Dec 16, 2025 $1.03; Dec 30, 2025 $0.11; Jun 15, 2026 $0.33. Use the arrow keys to read each point.2017201820192020202120222023202420252026YTD
Ex-datePay dateAmount per share
Jun 15, 2026Jun 18, 2026$0.33
Dec 30, 2025Jan 5, 2026$0.11
Dec 16, 2025Dec 19, 2025$1.03
Jun 16, 2025Jun 20, 2025$0.52
Dec 17, 2024Dec 20, 2024$1.09
Jun 11, 2024Jun 17, 2024$0.91
Dec 20, 2023Dec 27, 2023$1.22
Jun 7, 2023Jun 13, 2023$0.76
Dec 13, 2022Dec 19, 2022$2.02
Jun 9, 2022Jun 15, 2022$1.50
Dec 30, 2021Jan 5, 2022$0.16
Dec 13, 2021Dec 17, 2021$1.98

EWZ Risk

How much the fund’s monthly returns vary, scaled to a year.
23.2%
Annualised · 36 months to Aug 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
0.39
vs 3-month T-bills · to Aug 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−32.2%
Trough Jul 2022
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
0.92
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

EWZ Cost

Expense ratio0.59%
  • The middle half of Brazil funds
  • Median 0.59%

2 of the 7 Brazil funds charge less.

EWZ costs $59.00 a year on $10,000. The median Brazil fund costs $59.00.