---
ticker: "EWZ"
name: "iShares MSCI Brazil ETF"
url: "https://etf.net/etf/EWZ"
grade: "A"
score: 72
graded_at: "2026-10-12"
category: "Brazil"
category_rank: "2 of 7"
methodology: "https://etf.net/methodology"
---

# EWZ: iShares MSCI Brazil ETF

Grade **A**, Score 72 of 100. Rank 2 of 7 in Brazil.

Graded Oct 12, 2026.

## Grade pillars

| Pillar | Score | Category rank |
| --- | --- | --- |
| Cost | 56 | 3 of 7 |
| Mission | 100 | 1 of 5 |
| Risk | 58 | 4 of 7 |
| Tradability | 87 | 1 of 7 |
| Holdings | 51 | 4 of 5 |
| Durability | 83 | 1 of 7 |

## Top holdings

The fund holds 51 positions. These are the largest 30, by weight.

| # | Ticker | Name | Weight |
| --- | --- | --- | --- |
| 1 | NU | Nu Holdings Class A | 8.79% |
| 2 | ITUB4.SA | Itau Unibanco Holding Pref SA | 8.52% |
| 3 | VALE3.SA | Cia Vale Do Rio Doce Sh | 7.70% |
| 4 | PETR4.SA | Petroleo Brasileiro Pref SA | 7.61% |
| 5 | PETR3.SA | Petroleo Brasileiro SA Petrobras | 7.24% |
| 6 | — | USD Cash | 5.67% |
| 7 | B3SA3.SA | B3 Brasil Bolsa Balcao SA | 4.21% |
| 8 | BBDC4.SA | Banco Bradesco Pref | 3.95% |
| 9 | BPAC11.SA | Bco Btg Pactual Unt SA | 3.38% |
| 10 | AXIA3.SA | Axia Energia SA | 3.06% |
| 11 | WEGE3.SA | Weg | 2.96% |
| 12 | SBSP3.SA | Companhia De Saneamento Basico De | 2.86% |
| 13 | ABEV3.SA | Ambev SA | 2.60% |
| 14 | ITSA4.SA | Itausa Investimentos Itau Pref SA | 2.58% |
| 15 | XP | Xp Class A Inc | 2.19% |
| 16 | EMBJ3.SA | Embraer | 2.18% |
| 17 | EQTL3.SA | Equatorial SA | 2.13% |
| 18 | PRIO3.SA | Petro Rio | 1.86% |
| 19 | RENT3.SA | Localiza Rent A Car | 1.78% |
| 20 | BBAS3.SA | Banco Do Brasil SA | 1.48% |
| 21 | VBBR3.SA | Vibra Energia SA | 1.45% |
| 22 | RDOR3.SA | Rede Dor Sao Luiz SA | 1.31% |
| 23 | GGBR4.SA | Gerdau Pref SA | 1.22% |
| 24 | CPLE3.SA | Cia Paranaense De Energia Copel | 1.17% |
| 25 | — | Blk Csh Fnd Treasury Sl Agency | 1.16% |
| 26 | UGPA3.SA | Ultrapar Participoes SA | 1.10% |
| 27 | SUZB3.SA | Suzano SA | 1.06% |
| 28 | BBSE3.SA | Bb Seguridade SA | 1.03% |
| 29 | RADL3.SA | Raia Drogasil | 1.02% |
| 30 | ENEV3.SA | Eneva | 0.99% |

Source: etf.net, https://etf.net/etf/EWZ. Please cite the page URL.