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 Finance, Energy and Non-Energy Materials. In contrast, EWZS's top sector exposures are Finance, Utilities and Consumer Non-Cyclicals. Both EWZ and EWZS have the same Total Expense Ratio (TER) of 0.59%. EWZ is up 9.33% year-to-date (YTD) with +$5.08B in YTD flows. EWZS performs worse with -10.59% YTD performance, and +$300M 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 10/27/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | EWZ EWZS | -4.69%-10.21% | -3.84%-11.74% | +9.33%-10.59% | +17.20%-12.21% | +37.13%+3.27% | +67.28%-3.28% |
| Flows | EWZ EWZS | +$3.95B+$215M | +$3.26B+$222M | +$5.08B+$300M | +$5.59B+$283M | +$6.34B+$255M | +$6.74B+$407M |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | EWZ EWZS | +50.28%+73.29% | +33.70%+46.10% | +26.70%+34.94% | +28.50%+35.37% |
| Max drawdown | EWZ EWZS | -21.17%-32.10% | -21.17%-32.10% | -31.40%-37.10% | -32.10%-42.71% |
| Max drawdown duration | EWZ EWZS | 15d16d | 15d16d | 680d707d | 605d1394d |
Trading data
EWZ | EWZS | |
Last sale 10/28/2026 at 1:30 PM | $33.62 | $11.01 |
| Previous close 10/27/2026 | $34.30 | $11.49 |
| Consolidated volume 10/27/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of September 30, 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 10/28/2026 at 1:30 PM
Live
Closed
EWZ | EWZS | |
|---|---|---|
| Last price | $33.62 | $11.01 |
| 1D performance | -1.98% | -4.18% |
| AuM | $11.18 B | $356.54 M |
| E/R | 0.59% | 0.59% |
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Exposure
Countries
EWZ
Brazil
95.66%
Other
4.34%
EWZS
Brazil
96.27%
Other
3.73%
Sectors
EWZ
Finance
35.25%
Energy
15.71%
Non-Energy Materi.
13.96%
Utilities
12.78%
Industrials
7.43%
Other
14.87%
EWZS
Finance
28.51%
Utilities
14.88%
Consumer Non-Cycl.
14.48%
Non-Energy Materi.
10.27%
Other
31.86%
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Diversification
EWZ
Total weight of top 15 holdings out of 15
69.27%
EWZS
Total weight of top 15 holdings out of 15
48.42%
Top 15 holdings
Data as of August 31, 2026
EWZ
Vale SA
10.12%
Nu Holdings Ltd.
9.45%
Itaú Unibanco Holding SA
7.65%
Petróleo Brasileiro SA
7.01%
Petróleo Brasileiro SA
6.62%
Banco Bradesco SA
3.61%
B3 SA-Brasil, Bolsa, Balcão
3.35%
WEG SA
3.30%
AXIA Energia SA
3.20%
Ambev SA
2.81%
Embraer SA
2.62%
Banco BTG Pactual SA
2.60%
Companhia de Saneamento Basico do Estado de Sao Paulo SABESP
2.47%
Itausa SA
2.38%
PRIO SA
2.07%
EWZS
TOTVS SA
6.22%
Companhia de Saneamento de Minas Gerais
4.56%
Sendas Distribuidora SA
3.82%
Lojas Renner SA
3.58%
Allos SA
3.49%
StoneCo Ltd.
3.22%
Multiplan Empreendimentos Imobiliários SA (Rio de Janeiro)
3.11%
Metalúrgica Gerdau SA
2.91%
Isa Energia Brasil SA
2.80%
Smartfit Escola de Ginástica e Dança SA
2.77%
Natura Cosméticos SA
2.61%
Transmissora Aliança de Energia Elétrica SA
2.42%
Cosan SA
2.33%
Hypera SA
2.30%
Inter & Co., Inc.
2.29%
Frequently asked questions about EWZ and EWZS
How have the EWZ and EWZS ETFs performed in 2026?
As of October 27, 2026, EWZ is up 9.33% year-to-date (YTD), while EWZS has lost -10.59%. 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 +$5.08B in flows, compared to +$300M for EWZS.
Which ETF is more volatile: EWZ or EWZS?
Over the past year, EWZ had a volatility of 33.7%, while EWZS experienced 46.1%.
Which ETF is bigger: EWZ or EWZS?
As of October 27, 2026, EWZ holds $11.18 B in assets under management (AUM), while EWZS manages $356.54 M.
What sectors do the EWZ and EWZS ETFs invest in?
EWZ leans toward sectors like Finance, Energy and Non-Energy Materials. Meanwhile, EWZS focuses on Finance, Utilities and Consumer Non-Cyclicals.
What are the top holdings of the EWZ ETF and EWZS ETF?
EWZ top holdings include Vale SA, Nu Holdings Ltd. and Itaú Unibanco Holding SA. EWZS holds in its top three: TOTVS SA, Companhia de Saneamento de Minas Gerais and Sendas Distribuidora SA.
Which ETF is more diversified: EWZ or EWZS?
EWZ holds 46 securities with 69.27% of its assets in the top 15. EWZS has 69 securities and a top 15 weight of 48.42%.
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Latest news about EWZ & EWZS
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
EWZ
Tony's ETF Buyer's Guide: Latin America ETFs
June 18, 2024
EWZ
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