EWZvsFLMXETF Comparison
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iShares MSCI Brazil ETF (EWZ) and Franklin FTSE Mexico ETF (FLMX) belong to the same industry segment: LatAm Blended Cap. EWZ's top 3 sector exposures are Finance, Energy and Non-Energy Materials. In contrast, FLMX's top sector exposures are Consumer Non-Cyclicals, Non-Energy Materials and Finance. EWZ is more expensive with a Total Expense Ratio (TER) of 0.59%, versus 0.19% for FLMX. EWZ is up 8.88% year-to-date (YTD) with +$5.24B in YTD flows. FLMX performs better with 10.09% YTD performance, and +$11M in YTD flows. Run a side-by-side ETF comparison of EWZ and FLMX 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 FLMX performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/26/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | EWZ FLMX | -5.09%+3.69% | -4.25%-1.75% | +8.88%+10.09% | +16.71%+17.36% | +34.20%+51.90% | +66.79%+76.09% |
| Flows | EWZ FLMX | +$4.10B- | +$3.42B- | +$5.24B+$11M | +$5.75B+$8M | +$6.48B+$47M | +$6.90B+$64M |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | EWZ FLMX | +50.67%+15.84% | +33.77%+21.18% | +26.72%+22.12% | +28.50%+21.37% |
| Max drawdown | EWZ FLMX | -21.17%-10.16% | -21.17%-13.44% | -31.40%-31.44% | -32.10%-31.44% |
| Max drawdown duration | EWZ FLMX | 14d62d | 14d239d | 680d525d | 605d525d |
Trading data
EWZ | FLMX | |
Last sale 10/27/2026 at 1:30 PM | $34.30 | $36.43 |
| Previous close 10/26/2026 | $34.15 | $36.58 |
| Consolidated volume 10/26/2026 | ||
| 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 | FLMX | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 10/27/2026 at 1:30 PM
Live
Closed
EWZ | FLMX | |
|---|---|---|
| Last price | $34.30 | $36.43 |
| 1D performance | +0.44% | -0.40% |
| AuM | $11.29 B | $84.04 M |
| E/R | 0.59% | 0.19% |
Characteristics
EWZ | FLMX | |
|---|---|---|
| Management strategy | Passive | Passive |
| Provider | iShares | Franklin Templeton |
| Benchmark | MSCI Brazil 25/50 Index | FTSE Mexico RIC Capped Index |
| N° of holdings | 42 | 34 |
| Asset class | Equities | Equities |
| Trailing 12m distribution yield | Join | Join |
| Inception date | July 10, 2000 | November 3, 2017 |
| ESG | No | No |
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Exposure
Countries
EWZ
Brazil
95.66%
Other
4.34%
FLMX
Mexico
100%
Other
0%
Sectors
EWZ
Finance
35.25%
Energy
15.71%
Non-Energy Materi.
13.96%
Utilities
12.78%
Industrials
7.43%
Other
14.87%
FLMX
Consumer Non-Cycl.
27.04%
Non-Energy Materi.
26.95%
Finance
26.09%
Industrials
11.06%
Telecommunication.
8.23%
Other
0.62%
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Diversification
EWZ
Total weight of top 15 holdings out of 15
69.27%
FLMX
Total weight of top 15 holdings out of 15
77.51%
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%
FLMX
Grupo México S.A.B. de C.V.
14.29%
Grupo Financiero Banorte SAB de CV
12.18%
Fomento Economico Mexicano SAB de CV
8.00%
America Movil SAB de CV
6.85%
CEMEX SAB de CV
6.38%
Wal-Mart de México SAB de CV
4.23%
Industrias Peñoles SAB de CV
3.91%
Arca Continental SAB de CV
3.57%
Grupo Aeroportuario del Pacífico SAB de CV
3.26%
Coca-Cola FEMSA SAB de CV
2.82%
FIBRA Prologis
2.58%
Fibra Uno Administración SA de CV
2.57%
Grupo Financiero Inbursa SAB de CV
2.33%
Grupo Carso SAB de CV
2.28%
Grupo Bimbo SAB de CV
2.23%
Frequently asked questions about EWZ and FLMX
How have the EWZ and FLMX ETFs performed in 2026?
As of October 26, 2026, EWZ is up 8.88% year-to-date (YTD), while FLMX has returned 10.09%. That puts FLMX better performer ahead so far this year.
Which ETF is attracting more investor money: EWZ or FLMX?
Year-to-date, the EWZ ETF saw +$5.24B in flows, compared to +$11M for FLMX.
Which ETF is more volatile: EWZ or FLMX?
Over the past year, EWZ had a volatility of 33.77%, while FLMX experienced 21.18%.
Which ETF is bigger: EWZ or FLMX?
As of October 26, 2026, EWZ holds $11.29 B in assets under management (AUM), while FLMX manages $84.04 M.
What sectors do the EWZ and FLMX ETFs invest in?
EWZ leans toward sectors like Finance, Energy and Non-Energy Materials. Meanwhile, FLMX focuses on Consumer Non-Cyclicals, Non-Energy Materials and Finance.
What are the top holdings of the EWZ ETF and FLMX ETF?
EWZ top holdings include Vale SA, Nu Holdings Ltd. and Itaú Unibanco Holding SA. FLMX holds in its top three: Grupo México S.A.B. de C.V., Grupo Financiero Banorte SAB de CV and Fomento Economico Mexicano SAB de CV.
Which ETF is more diversified: EWZ or FLMX?
EWZ holds 46 securities with 69.27% of its assets in the top 15. FLMX has 34 securities and a top 15 weight of 77.51%.
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Latest news about EWZ & FLMX
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
FLMX
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