BRFvsEWZETF Comparison
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VanEck Brazil Small-Cap ETF (BRF) and iShares MSCI Brazil ETF (EWZ) belong to the same industry segment: LatAm Blended Cap. BRF's top 3 sector exposures are Finance, Non-Energy Materials and Consumer Non-Cyclicals. In contrast, EWZ's top sector exposures are Finance, Energy and Utilities. BRF is more expensive with a Total Expense Ratio (TER) of 0.97%, versus 0.59% for EWZ. BRF is down -19.29% year-to-date (YTD) with - in YTD flows. EWZ performs better with 2.96% YTD performance, and +$4.15B in YTD flows. Run a side-by-side ETF comparison of BRF and EWZ below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
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BRF vs EWZ performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/30/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | BRF EWZ | -20.38%-12.58% | -20.07%-11.19% | -19.29%+2.96% | -15.34%+9.40% | +2.21%+30.85% | -3.53%+61.96% |
| Flows | BRF EWZ | -+$3.01B | -+$2.33B | -+$4.15B | -+$4.66B | -$5M+$5.40B | -$10M+$5.81B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | BRF EWZ | +72.28%+50.29% | +44.62%+33.88% | +33.28%+26.74% | +33.72%+28.51% |
| Max drawdown | BRF EWZ | -37.99%-25.45% | -37.99%-25.45% | -37.99%-31.40% | -41.31%-32.10% |
| Max drawdown duration | BRF EWZ | 19d18d | 19d18d | 19d680d | 1388d605d |
Trading data
BRF | EWZ | |
Last sale 11/2/2026 at 2:30 PM | $12.95 | $32.16 |
| Previous close 10/30/2026 | $12.96 | $32.46 |
| Consolidated volume 10/30/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of October 30, 2026
1-year trailing difference
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BRF | EWZ | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
Main metrics
Last update 11/2/2026 at 2:30 PM
Live
Closed
BRF | EWZ | |
|---|---|---|
| Last price | $12.95 | $32.16 |
| 1D performance | -0.08% | -0.92% |
| AuM | $17.59 M | $9.62 B |
| E/R | 0.97% | 0.59% |
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Exposure
Countries
BRF
Brazil
89.64%
Other
10.36%
EWZ
Brazil
96.49%
Other
3.51%
Sectors
BRF
Finance
28.87%
Non-Energy Materi.
15.41%
Consumer Non-Cycl.
11%
Consumer Cyclical.
10.55%
Utilities
8.59%
Other
25.59%
EWZ
Finance
36.13%
Energy
16.44%
Utilities
12.99%
Non-Energy Materi.
12.62%
Industrials
7.48%
Other
14.34%
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Diversification
BRF
Total weight of top 15 holdings out of 15
38.21%
EWZ
Total weight of top 15 holdings out of 15
69.45%
Top 15 holdings
Data as of September 30, 2026
BRF
Cyrela Brazil Realty SA Empreendimentos e Participações
3.46%
Alupar Investimento SA
3.33%
Fleury SA
3.23%
Smartfit Escola de Ginástica e Dança SA
3.20%
PagSeguro Digital Ltd.
3.19%
Inter & Co., Inc.
2.79%
GPS Participações e Empreendimentos SA
2.49%
Companhia de Saneamento do Paraná
2.34%
Cury Construtora e Incorporadora SA
2.31%
Orizon Valorização de Resíduos SA
2.28%
Auren Energia SA
2.01%
Companhia Siderurgica Nacional
1.99%
Ituran Location & Control Ltd.
1.89%
JHSF Participações SA
1.86%
Bradespar SA
1.85%
EWZ
Vale SA
8.92%
Itaú Unibanco Holding SA
8.41%
Nu Holdings Ltd.
8.06%
Petróleo Brasileiro SA
7.51%
Petróleo Brasileiro SA
6.96%
Banco Bradesco SA
3.81%
B3 SA-Brasil, Bolsa, Balcão
3.72%
WEG SA
3.20%
AXIA Energia SA
3.18%
Banco BTG Pactual SA
2.99%
Ambev SA
2.82%
Embraer SA
2.67%
Companhia de Saneamento Basico do Estado de Sao Paulo SABESP
2.63%
Itausa SA
2.60%
PRIO SA
1.98%
Frequently asked questions about BRF and EWZ
How have the BRF and EWZ ETFs performed in 2026?
As of October 30, 2026, BRF is down -19.29% year-to-date (YTD), while EWZ has returned 2.96%. That puts EWZ better performer ahead so far this year.
Which ETF is attracting more investor money: BRF or EWZ?
Year-to-date, the BRF ETF saw - in flows, compared to +$4.15B for EWZ.
Which ETF is more volatile: BRF or EWZ?
Over the past year, BRF had a volatility of 44.62%, while EWZ experienced 33.88%.
Which ETF is bigger: BRF or EWZ?
As of October 30, 2026, BRF holds $17.59 M in assets under management (AUM), while EWZ manages $9.62 B.
What sectors do the BRF and EWZ ETFs invest in?
BRF leans toward sectors like Finance, Non-Energy Materials and Consumer Non-Cyclicals. Meanwhile, EWZ focuses on Finance, Energy and Utilities.
What are the top holdings of the BRF ETF and EWZ ETF?
BRF top holdings include Cyrela Brazil Realty SA Empreendimentos e Participações, Alupar Investimento SA and Fleury SA. EWZ holds in its top three: Vale SA, Itaú Unibanco Holding SA and Nu Holdings Ltd..
Which ETF is more diversified: BRF or EWZ?
BRF holds 87 securities with 38.21% of its assets in the top 15. EWZ has 47 securities and a top 15 weight of 69.45%.
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Latest news about BRF & EWZ
The Weekly ETF Market Monitor (October 26-30, 2026)
October 31, 2026
EWZ
The Weekly ETF Market Monitor (October 12-16, 2026)
October 19, 2026
EWZ
The Weekly ETF Market Monitor (October 5-9, 2026)
October 12, 2026
BRF
EWZ
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