EWZvsEWZSETF Comparison
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iShares MSCI Brazil ETF (EWZ) and iShares MSCI Brazil Small-Cap ETF (EWZS) belong to the same industry segment: LatAm Blended Cap. EWZ's top 3 sector exposures are Financials, Energy and Materials. In contrast, EWZS's top sector exposures are Consumer Discretionary, Materials and Utilities. Both EWZ and EWZS have the same Total Expense Ratio (TER) of 0.59%. EWZ is up 25.5% year-to-date (YTD) with +$3.18B in YTD flows. EWZS performs worse with 17.87% YTD performance, and +$138M in YTD flows. Run a side-by-side ETF comparison of EWZ 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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EWZ vs EWZS performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 04/24/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | EWZ EWZS | +8.84%+9.90% | +9.25%+4.20% | +25.50%+17.87% | +57.60%+34.00% | +72.58%+45.72% | +66.19%+7.62% |
| Flows | EWZ EWZS | +$1.53B-$13M | +$2.43B+$113M | +$3.18B+$138M | +$5.54B+$173M | +$4.66B+$242M | +$4.13B+$241M |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | EWZ EWZS | +29.81%+37.01% | +23.15%+28.31% | +23.39%+28.56% | +27.46%+32.41% |
| Max drawdown | EWZ EWZS | -11.10%-16.94% | -11.10%-16.94% | -31.40%-37.52% | -32.10%-48.71% |
| Max drawdown duration | EWZ EWZS | 42d43d | 42d43d | 680d856d | 605d1765d |
Trading data
EWZ | EWZS | |
Last sale 4/27/2026 at 1:30 PM | $39.89 | $15.18 |
| Previous close 04/24/2026 | $39.94 | $15.34 |
| Consolidated volume 04/24/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of March 31, 2026
1-year trailing difference
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EWZ | 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 4/27/2026 at 1:30 PM
Live
Closed
EWZ | EWZS | |
|---|---|---|
| Last price | $39.89 | $15.18 |
| 1D performance | -0.13% | -1.04% |
| AuM | $11.65 B | $336.81 M |
| E/R | 0.59% | 0.59% |
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Exposure
Countries
EWZ
Brazil
86.86%
Cayman Islands
10.7%
Other
2.44%
EWZS
Brazil
85.19%
Cayman Islands
8.22%
Other
6.59%
Sectors
EWZ
Financials
34.77%
Energy
17.72%
Materials
13.52%
Utilities
8.6%
Other
25.38%
EWZS
Consumer Discreti.
20.8%
Materials
14.95%
Utilities
12.02%
Consumer Staples
8.55%
Industrials
7.96%
Financials
7.46%
Other
28.26%
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Diversification
EWZ
Total weight of top 15 holdings out of 15
70.38%
EWZS
Total weight of top 15 holdings out of 15
45.11%
Top 15 holdings
Data as of March 31, 2026
EWZ
VALE SA
10.45%
NU HOLDINGS
9.00%
ITAU UNIBANCO HOLDING PRF
8.40%
PETROLEO BRASILEIRO PRF
7.70%
PETROLEO BRASILEIRO PETROBRAS
7.05%
BM&F BOVESPA BOLSA DE VALORES
3.63%
BANCO BRADESCO PRF
3.29%
WEG ON
3.21%
COMPANHIA DE SANEAMENTO BASICO
2.95%
AMBEV SA
2.72%
BRAXIAACNOR0
2.69%
ITAUSA INVESTIMENTOS ITAU PRF
2.58%
BANCO BTG PACTUAL SA
2.56%
PETRO RIO
2.09%
BREMBJACNOR1
2.06%
EWZS
LOJAS RENNER
4.59%
AURA MINERALS
4.34%
SENDAS DISTRIBUIDORA SA
3.91%
CIA SANEAMENTO MINAS GERAIS
3.35%
BRALOSACNOR5
3.27%
MULTIPLAN EMPREENDIMENTOS IMOB
3.24%
INTER AND CO
3.07%
BRNATUACNOR6
2.84%
PAGSEGURO DIGITAL LTD
2.66%
TRANSMISSORA ALIANCA UNT
2.46%
SMARTFIT ESCOLA DE GINASTICA E DANCA
2.34%
BRBRAVACNOR3
2.33%
GPS PARTICIPACOES E EMPREENDIMENTOS
2.29%
CYRELA BRAZIL REALTY
2.24%
MET GERDAU PRF
2.18%
Frequently asked questions about EWZ and EWZS
How have the EWZ and EWZS ETFs performed in 2026?
As of April 24, 2026, EWZ is up 25.5% year-to-date (YTD), while EWZS has returned 17.87%. That puts EWZ better performer ahead so far this year.
Which ETF is attracting more investor money: EWZ or EWZS?
Year-to-date, the EWZ ETF saw +$3.18B in flows, compared to +$138M for EWZS.
Which ETF is more volatile: EWZ or EWZS?
Over the past year, EWZ had a volatility of 23.15%, while EWZS experienced 28.31%.
Which ETF is bigger: EWZ or EWZS?
As of April 24, 2026, EWZ holds $11.65 B in assets under management (AUM), while EWZS manages $336.81 M.
What sectors do the EWZ and EWZS ETFs invest in?
EWZ leans toward sectors like Financials, Energy and Materials. Meanwhile, EWZS focuses on Consumer Discretionary, Materials and Utilities.
What are the top holdings of the EWZ ETF and EWZS ETF?
EWZ top holdings include VALE SA, NU HOLDINGS and ITAU UNIBANCO HOLDING PRF. EWZS holds in its top three: LOJAS RENNER, AURA MINERALS and SENDAS DISTRIBUIDORA SA.
Which ETF is more diversified: EWZ or EWZS?
EWZ holds 47 securities with 70.38% of its assets in the top 15. EWZS has 74 securities and a top 15 weight of 45.11%.
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Latest news about EWZ & EWZS
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