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BRZU vs EWZS

Direxion Daily MSCI Brazil Bull 2X ETF

BRZUDNYSE Arca

iShares MSCI Brazil Small-Cap ETF

EWZSBNasdaq

Overlap

Expense ratio

EWZS −0.73pt a year

BRZU1.32%EWZS0.59%

Avg volume · 30D

EWZS 15.7×the volume

BRZU68.4KEWZS1.07M

10Y return · a year

EWZS +26.5pt

BRZU−25.0%EWZS+1.5%

BRZU vs EWZS Performance

Oct 29, 2021 – Oct 30, 2026

+32.8%BRZU−6.6%EWZS

Oct 29, 2021 to Oct 30, 2026. BRZU +32.8%. EWZS −6.6%. Use the arrow keys to read each point.100%150%Oct 2021Apr 2024Oct 2026
Expense ratio
BRZU 1.32%
EWZS 0.59%, better
Fund size
BRZU $129M
EWZS $320M
1Y total return
BRZU −2.8%, better
EWZS −20.2%
Yield (12M)
BRZU 2.88%
EWZS 4.85%, better
Holdings
BRZU 8
EWZS 72
Avg volume (30D)
BRZU 68.4K sh
EWZS 1.07M sh, better
NAV per share
BRZU $73.25
EWZS $10.54
52W range

ETF.net Grade

BRZU: Cost 8, Risk 30, Mission not scored, Tradability 56, Holdings not scored, Durability 50. EWZS: Cost 56, Risk 29, Mission 93, Tradability 56, Holdings 64, Durability 70.
Pillar letters and Scores for BRZU, EWZS, with each pillar’s weight
PillarBRZUEWZS
Cost30% weightF8B56Higher
Mission25% weightNot scoredA93
Risk15% weightD30HigherD29
Tradability15% weightB56B56
Holdings10% weightNot scoredB64
Durability5% weightC50A70Higher

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 EWZS are both graded against the same 7 Brazil funds, so their Grades compare head to head.

Brazil⁠

Category · 7 funds
See all 7 ›

EWZS ranks 3rd 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 4CBRFVanEck Brazil Small-Cap ETFScore 54
  5. Rank 6CBRZXCorgi Brazil 2x Daily ETFScore 40
  6. Rank 7DBRZUDirexion Daily MSCI Brazil Bull 2X ETFScore 27

Our read on each fund

ETF.net Research

BRZUDDirexion Daily MSCI Brazil Bull 2X ETF

EWZSBiShares MSCI Brazil Small-Cap 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.

EWZS Brazil past the blue chips. EWZS tracks the MSCI Brazil Small Cap Index, a compact basket of roughly 70 smaller Brazilian companies that the country's large-cap benchmarks are built to exclude.

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.

EWZS The fund seeks to track an index of small-cap Brazilian equities.

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.
  • EWZS One job, done tightly: it follows the MSCI Brazil Small Cap Index and has hugged it closely, with no active drift or style creep.
  • The 0.59% expense ratio sits at the middle of the Brazil ETF pack, and it's the same fee iShares charges on its large-cap Brazil fund (EWZ) for an easier slice.
  • Running since 2010, one of the longest-lived ways to own Brazilian small caps in a US wrapper, and it distributes quarterly.
  • Lands in the upper half of the small group of Brazil ETFs we cover, ahead of the other dedicated small-cap option (BRF).

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.
  • EWZS Single-country small caps are a rough ride: Brazilian equity swings and real-versus-dollar currency moves both land in the same share price.
  • Smaller and less heavily traded than the flagship Brazil funds, so spreads can run wider, especially outside Brazilian market hours.
  • Cheaper Brazil exposure exists (FLBR at 0.19%), but it's the large-cap market, not this small-cap slice.

Full BRZU profile⁠

Full EWZS profile⁠

BRZU vs EWZS 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 EWZS Cost

Overpaying BRZU vs EWZS

$12,033

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

  • BRZU 1.32%

    $23,668

  • EWZS 0.59%

    $11,635

$10,000
30 years

Cost over time

  • BRZU 1.32%
  • EWZS 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 $23,668EWZS $11,635

Year by year

YearBRZUEWZSOverpaying
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%EWZS, cheaper
  • Middle half of Brazil funds
  • Median 0.59%

EWZS 3rd cheapest of 7 funds

BRZU 7th cheapest of 7 funds

BRZU vs EWZS Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
BRZU 2.88%
EWZS 4.85%, better
Payout (12M)
BRZU $2.03
EWZS $0.51
Last payment
BRZU $0.26
EWZS $0.14
Ex-dividend
BRZU Sep 22, 2026
EWZS Jun 15, 2026
Paid on
BRZU Sep 29, 2026
EWZS Jun 18, 2026
Frequency
BRZU Quarterly
EWZS 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
EWZSTwice a year · 24 paymentsAll EWZS payments⁠
One bar per payment. 24 payments from 2017 to 2026 YTD. Jun 20, 2017 $0.17; Dec 19, 2017 $0.37; Dec 28, 2017 $0.02; Jun 19, 2018 $0.32; Dec 18, 2018 $0.31; Dec 28, 2018 $0.06; Jun 17, 2019 $0.23; Dec 16, 2019 $0.15; Jun 15, 2020 $0.08; Dec 14, 2020 $0.08; Dec 30, 2020 $0.04; Jun 10, 2021 $0.24; Dec 13, 2021 $0.34; Dec 30, 2021 $0.03; Jun 9, 2022 $0.22; Dec 13, 2022 $0.32; Jun 7, 2023 $0.17; Dec 20, 2023 $0.25; Jun 11, 2024 $0.21; Dec 17, 2024 $0.24; Jun 16, 2025 $0.13; Dec 16, 2025 $0.28; Dec 30, 2025 $0.09; Jun 15, 2026 $0.14. Use the arrow keys to read each point.$0$102017202020232026YTD

BRZU vs EWZS Risk

Fall from peak · 5 years

  • BRZU
  • EWZS
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%EWZS 28.8%, better
Return per unit of riskSharpe ratio, 3 years
BRZU 0.22, betterEWZS −0.08
Worst fallMax drawdown, 5 years
BRZU −62.9%EWZS −42.6%, better
Market sensitivityBeta, 5 years
BRZU 0.80EWZS 1.28

BRZU and EWZS in the news

All news⁠

Popular comparisons

  • BRZUDvsFLBRA

    Direxion Daily MSCI Brazil Bull 2X ETF · Franklin FTSE Brazil ETF

    Expense ratio
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    Category
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  • EWZSBvsFLBRA

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