BRFvsEWZSETF Comparison
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VanEck Brazil Small-Cap ETF (BRF) and iShares MSCI Brazil Small-Cap ETF (EWZS) belong to the same industry segment: LatAm Blended Cap. BRF's top 3 sector exposures are Finance, Non-Energy Materials and Consumer Cyclicals. In contrast, EWZS's top sector exposures are Finance, Utilities and Consumer Non-Cyclicals. BRF is more expensive with a Total Expense Ratio (TER) of 0.97%, versus 0.59% for EWZS. BRF is up 1.5% year-to-date (YTD) with - in YTD flows. EWZS performs better with 2.42% YTD performance, and +$86M in YTD flows. Run a side-by-side ETF comparison of BRF and EWZS 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 EWZS performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 09/16/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | BRF EWZS | +9.13%+10.04% | -2.67%+0.49% | +1.50%+2.42% | +4.81%-3.18% | +7.69%+3.45% | -1.88%-5.78% |
| Flows | BRF EWZS | -+$15M | -+$5M | -+$86M | -+$79M | -$8M+$58M | -$12M+$193M |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | BRF EWZS | +23.55%+26.17% | +27.59%+30.08% | +26.96%+28.88% | +30.43%+32.21% |
| Max drawdown | BRF EWZS | -12.45%-13.48% | -26.53%-26.15% | -36.58%-37.10% | -41.31%-42.71% |
| Max drawdown duration | BRF EWZS | 54d66d | 148d155d | 684d707d | 1388d1394d |
Trading data
BRF | EWZS | |
Last sale 9/17/2026 at 1:30 PM | $16.23 | $13.16 |
| Previous close 09/16/2026 | $16.31 | $13.18 |
| Consolidated volume 09/16/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of August 31, 2026
1-year trailing difference
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BRF | EWZS | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 9/17/2026 at 1:30 PM
Live
Closed
BRF | EWZS | |
|---|---|---|
| Last price | $16.23 | $13.16 |
| 1D performance | -0.49% | -0.17% |
| AuM | $22.13 M | $241.49 M |
| E/R | 0.97% | 0.59% |
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Exposure
Countries
BRF
Brazil
90.77%
Other
9.23%
EWZS
Brazil
97.44%
Other
2.56%
Sectors
BRF
Finance
25.05%
Non-Energy Materi.
13.09%
Consumer Cyclical.
12.49%
Consumer Non-Cycl.
11.65%
Utilities
9.57%
Healthcare
7.17%
Other
20.97%
EWZS
Finance
26.28%
Utilities
16.11%
Consumer Non-Cycl.
15.5%
Non-Energy Materi.
10.33%
Other
31.77%
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Diversification
BRF
Total weight of top 15 holdings out of 15
39.4%
EWZS
Total weight of top 15 holdings out of 15
48.85%
Top 15 holdings
Data as of July 31, 2026
BRF
Alupar Investimento SA
4.07%
Brava Energia SA
3.36%
Cyrela Brazil Realty SA Empreendimentos e Participações
3.21%
Companhia de Saneamento do Paraná
3.08%
Fleury SA
2.92%
Cury Construtora e Incorporadora SA
2.91%
Bradespar SA
2.34%
Sylvamo Corp.
2.29%
Cogna Educação SA
2.27%
Usinas Siderurgicas de Minas Gerais SA-Usiminas
2.25%
Marcopolo SA
2.20%
Ituran Location & Control Ltd.
2.16%
Bradsaude SA
2.12%
JHSF Participações SA
2.11%
Orizon Valorização de Resíduos SA
2.10%
EWZS
TOTVS SA
5.53%
Companhia de Saneamento de Minas Gerais
5.32%
Lojas Renner SA
4.50%
Sendas Distribuidora SA
3.86%
Allos SA
3.60%
Multiplan Empreendimentos Imobiliários SA (Rio de Janeiro)
3.19%
Metalúrgica Gerdau SA
3.11%
Smartfit Escola de Ginástica e Dança SA
2.71%
Transmissora Aliança de Energia Elétrica SA
2.53%
Natura Cosméticos SA
2.52%
PagSeguro Digital Ltd.
2.52%
Cosan SA
2.41%
Brava Energia SA
2.41%
Inter & Co., Inc.
2.34%
Hypera SA
2.32%
Frequently asked questions about BRF and EWZS
How have the BRF and EWZS ETFs performed in 2026?
As of September 16, 2026, BRF is up 1.5% year-to-date (YTD), while EWZS has returned 2.42%. That puts EWZS better performer ahead so far this year.
Which ETF is attracting more investor money: BRF or EWZS?
Year-to-date, the BRF ETF saw - in flows, compared to +$86M for EWZS.
Which ETF is more volatile: BRF or EWZS?
Over the past year, BRF had a volatility of 27.59%, while EWZS experienced 30.08%.
Which ETF is bigger: BRF or EWZS?
As of September 16, 2026, BRF holds $22.13 M in assets under management (AUM), while EWZS manages $241.49 M.
What sectors do the BRF and EWZS ETFs invest in?
BRF leans toward sectors like Finance, Non-Energy Materials and Consumer Cyclicals. Meanwhile, EWZS focuses on Finance, Utilities and Consumer Non-Cyclicals.
What are the top holdings of the BRF ETF and EWZS ETF?
BRF top holdings include Alupar Investimento SA, Brava Energia SA and Cyrela Brazil Realty SA Empreendimentos e Participações. EWZS holds in its top three: TOTVS SA, Companhia de Saneamento de Minas Gerais and Lojas Renner SA.
Which ETF is more diversified: BRF or EWZS?
BRF holds 86 securities with 39.4% of its assets in the top 15. EWZS has 72 securities and a top 15 weight of 48.85%.
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