---
ticker: "EWZS"
name: "iShares MSCI Brazil Small-Cap ETF"
url: "https://etf.net/etf/EWZS"
grade: "B"
score: 64
graded_at: "2026-10-12"
category: "Brazil"
category_rank: "3 of 7"
methodology: "https://etf.net/methodology"
---

# EWZS: iShares MSCI Brazil Small-Cap ETF

Grade **B**, Score 64 of 100. Rank 3 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 | 28 | 6 of 7 |
| Tradability | 56 | 3 of 7 |
| Holdings | 64 | 2 of 5 |
| Durability | 70 | 2 of 7 |

## Top holdings

The fund holds 74 positions. These are the largest 30, by weight.

| # | Ticker | Name | Weight |
| --- | --- | --- | --- |
| 1 | — | USD Cash | 8.43% |
| 2 | TOTS3.SA | Totvs | 5.81% |
| 3 | ASAI3.SA | Sendas Distribuidora | 4.71% |
| 4 | CSMG3.SA | Companhia De Saneamento De Minas G | 4.19% |
| 5 | LREN3.SA | Lojas Renner | 3.88% |
| 6 | ALOS3.SA | Allos SA | 3.67% |
| 7 | MULT3.SA | Multiplan Empreendimentos Imobilia | 3.40% |
| 8 | SMFT3.SA | Smartfit Escola De Ginastica E Dan | 3.28% |
| 9 | — | Blk Csh Fnd Treasury Sl Agency | 3.16% |
| 10 | STNE | Stoneco Class A | 3.13% |
| 11 | GOAU4.SA | Metalurgica Gerdau Pref SA | 2.55% |
| 12 | CSAN3.SA | Cosan Industria E Comercio | 2.53% |
| 13 | CYRE3.SA | Cyrela Brazil Realty SA | 2.48% |
| 14 | INTR | Inter and Co Inc Class A | 2.45% |
| 15 | ISAE4.SA | Isa Energia Brasil Pref SA | 2.41% |
| 16 | TAEE11.SA | Transmissora Alianca Energia Eletr | 2.26% |
| 17 | HYPE3.SA | Hypermarcas | 2.24% |
| 18 | GGPS3.SA | Gps Participacoes E Empreendimento | 2.11% |
| 19 | PAGS | Pagseguro Digital Ltd Class A | 2.05% |
| 20 | IGTI11.SA | Iguatemi Unit SA | 1.89% |
| 21 | SAPR11.SA | Cia Saneamento Do Parana Units | 1.83% |
| 22 | FLRY3.SA | Fleury | 1.79% |
| 23 | NATU3.SA | Natura SA | 1.75% |
| 24 | ALUP11.SA | Alupar Investimento Units | 1.72% |
| 25 | CURY3.SA | Cury Constrtutora E Incorporadora | 1.39% |
| 26 | BRAP4.SA | Bradespar Pref SA | 1.38% |
| 27 | COGN3.SA | Cogna Educacao SA | 1.38% |
| 28 | AURE3.SA | Auren Energia SA | 1.29% |
| 29 | ECOR3.SA | Ecorodovias Infraestrutura E Logis | 1.28% |
| 30 | MGLU3.SA | Magazine Luiza SA | 1.24% |

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