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BRZU vs EWZ

Direxion Daily MSCI Brazil Bull 2X ETF

BRZUDNYSE Arca

iShares MSCI Brazil ETF

EWZANYSE Arca

Overlap

Expense ratio

EWZ −0.73pt a year

BRZU1.32%EWZ0.59%

Avg volume · 30D

EWZ 501.1×the volume

BRZU68.4KEWZ34.3M

10Y return · a year

EWZ +28.7pt

BRZU−25.0%EWZ+3.7%

BRZU vs EWZ Performance

Oct 29, 2021 – Oct 30, 2026

+32.8%BRZU+64.0%EWZ

Oct 29, 2021 to Oct 30, 2026. BRZU +32.8%. EWZ +64.0%. Use the arrow keys to read each point.0%100%150%Oct 2021Apr 2024Oct 2026
Expense ratio
BRZU 1.32%
EWZ 0.59%, better
Fund size
BRZU $129M
EWZ $9.63B
1Y total return
BRZU −2.8%
EWZ +8.9%, better
Yield (12M)
BRZU 2.88%
EWZ 4.51%, better
Holdings
BRZU 8
EWZ 49
Avg volume (30D)
BRZU 68.4K sh
EWZ 34.3M sh, better
NAV per share
BRZU $73.25
EWZ $32.46
52W range

ETF.net Grade

BRZU: Cost 8, Risk 30, Mission not scored, Tradability 56, Holdings not scored, Durability 50. EWZ: Cost 56, Risk 63, Mission 93, Tradability 86, Holdings 51, Durability 83.
Pillar letters and Scores for BRZU, EWZ, with each pillar’s weight
PillarBRZUEWZ
Cost30% weightF8B56Higher
Mission25% weightNot scoredA93
Risk15% weightD30B63Higher
Tradability15% weightB56A86Higher
Holdings10% weightNot scoredC51
Durability5% weightC50A83Higher

Rank among Brazil funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. BRZU and EWZ are both graded against the same 7 Brazil funds, so their Grades compare head to head.

Brazil⁠

Category · 7 funds
See all 7 ›

EWZ ranks 2nd and BRZU 7th of 7 funds in the Brazil Category.

  1. Rank 1AFLBRFranklin FTSE Brazil ETFScore 77
  2. Rank 2AEWZiShares MSCI Brazil ETFScore 71
  3. Rank 3BEWZSiShares MSCI Brazil Small-Cap ETFScore 62
  4. Rank 6CBRZXCorgi Brazil 2x Daily ETFScore 40
  5. Rank 7DBRZUDirexion Daily MSCI Brazil Bull 2X ETFScore 27

Our read on each fund

ETF.net Research

BRZUDDirexion Daily MSCI Brazil Bull 2X ETF

EWZAiShares MSCI Brazil ETF

In short

BRZU Brazil with the volume knob turned up. BRZU aims for 200% of the MSCI Brazil 25/50 Index's move each trading day, resets every session, and is the only geared name on a Brazil shelf otherwise full of plain index trackers.

EWZ The 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

BRZU The fund seeks daily investment results, before fees and expenses, equal to 200% of the MSCI Brazil 25/50 Index’s daily performance. It does not target that multiple over periods longer than one trading day.

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

Why people hold it

  • BRZU The only geared Brazil fund in its peer group. FLBR, EWZ and EWZS give you the index; BRZU aims for twice its daily move, inside an ordinary brokerage account with no margin or futures paperwork.direxion.com
  • The mandate is stated without hedging: 200% of the MSCI Brazil 25/50 Index, before fees, for one trading day. Direxion says outright it does not target that multiple over any longer stretch.direxion.com
  • Trading since 2013, so this is a seasoned product, not a fresh launch, and it has run through several full cycles of Brazilian equity turbulence.
  • EWZ Has been running Brazil exposure since 2000 and hugs its MSCI Brazil 25/50 index closely, one of the stronger implementations in the Brazil group.
  • A 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.
  • The 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
  • 0.59% a year, a touch under the typical Brazil fund's fee, with distributions paid quarterly.

Worth knowing

  • BRZU Daily reset is the whole story. Hold longer than a session and compounding takes over, so multi-day results can land far from 2x the index's move over that same window, especially in choppy tape.
  • The 1.32% expense ratio sits well above what unlevered Brazil index funds charge, which is the toll for the geared structure.
  • It trades thinly next to the household-name Brazil funds. Limit orders and a glance at the spread do real work here.
  • EWZ Cheaper Brazil beta exists: FLBR charges 0.19% against 0.59% here. The extra fee buys the deeper, busier market, not extra exposure.
  • About 50 large Brazilian companies, one country, one policy cycle. Concentration is the point, and it cuts both ways.
  • Brazilian shares, dollar-denominated fund: moves in the real feed into results on top of the market's own swings.

Full BRZU profile⁠

Full EWZ profile⁠

BRZU vs EWZ Holdings

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

BRZU vs EWZ Cost

Overpaying BRZU vs EWZ

$12,033

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • BRZU 1.32%

    $23,668

  • EWZ 0.59%

    $11,635

$10,000
30 years

Cost over time

  • BRZU 1.32%
  • EWZ 0.59%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K$25K051015202530BRZU $23,668EWZ $11,635

Year by year

YearBRZUEWZOverpaying
10$2,296$1,058$1,238
20$8,507$4,051$4,456
30$23,668$11,635$12,033

Expense ratio

  • 1.32%BRZU
  • 0.59%EWZ, cheaper
  • Middle half of Brazil funds
  • Median 0.59%

EWZ 3rd cheapest of 7 funds

BRZU 7th cheapest of 7 funds

BRZU vs EWZ Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
BRZU 2.88%
EWZ 4.51%, better
Payout (12M)
BRZU $2.03
EWZ $1.46
Last payment
BRZU $0.26
EWZ $0.33
Ex-dividend
BRZU Sep 22, 2026
EWZ Jun 15, 2026
Paid on
BRZU Sep 29, 2026
EWZ Jun 18, 2026
Frequency
BRZU Quarterly
EWZ Twice a year

Distribution history

Per share, 2017 to 2026, same scale for both

BRZUQuarterly · 29 paymentsAll BRZU payments⁠
One bar per payment. 29 payments from 2017 to 2026 YTD. Dec 19, 2017 $10.37; Sep 25, 2018 $3.81; Dec 27, 2018 $5.26; Jun 25, 2019 $6.88; Dec 23, 2019 $5.99; Mar 24, 2020 $0.25; Jun 23, 2020 $0.35; Dec 22, 2020 $0.32; Jun 22, 2021 $0.60; Dec 21, 2021 $3.59; Mar 22, 2022 $0.15; Jun 22, 2022 $0.84; Sep 20, 2022 $0.08; Dec 20, 2022 $2.15; Mar 21, 2023 $0.13; Jun 21, 2023 $1.11; Sep 19, 2023 $0.31; Dec 21, 2023 $1.78; Mar 19, 2024 $0.33; Jun 25, 2024 $1.39; Sep 24, 2024 $0.40; Dec 23, 2024 $1.49; Mar 25, 2025 $0.03; Jun 24, 2025 $0.77; Sep 23, 2025 $0.01; Dec 23, 2025 $1.09; Mar 24, 2026 $0.25; Jun 23, 2026 $0.43; Sep 22, 2026 $0.26. Use the arrow keys to read each point.$0$102017202020232026YTD
EWZTwice a year · 23 paymentsAll EWZ payments⁠
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.$0$102017202020232026YTD

BRZU vs EWZ Risk

Fall from peak · 5 years

  • BRZU
  • EWZ
Oct 29, 2021 to Oct 30, 2026. Worst fall: BRZU −62.9% · Jan 2025. Use the arrow keys to read each point.−60%−40%−20%0%Oct 2021Apr 2024Oct 2026

Risk facts

VolatilityStd dev, 3 years
BRZU 50.7%EWZ 24.5%, better
Return per unit of riskSharpe ratio, 3 years
BRZU 0.22EWZ 0.29, better
Worst fallMax drawdown, 5 years
BRZU −62.9%EWZ −32.2%, better
Market sensitivityBeta, 5 years
BRZU 0.80EWZ 0.92

BRZU and EWZ in the news

All news⁠

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