EWZSvsBRFETF Comparison
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iShares MSCI Brazil Small-Cap ETF (EWZS) and VanEck Brazil Small-Cap ETF (BRF) belong to the same industry segment: LatAm Blended Cap. EWZS's top 3 sector exposures are Finance, Utilities and Consumer Non-Cyclicals. In contrast, BRF's top sector exposures are Finance, Non-Energy Materials and Consumer Non-Cyclicals. EWZS is less expensive with a Total Expense Ratio (TER) of 0.59%, versus 0.97% for BRF. EWZS is up 24.83% year-to-date (YTD) with +$209M in YTD flows. BRF performs worse with 19.55% YTD performance, and - in YTD flows. Run a side-by-side ETF comparison of EWZS and BRF 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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EWZS vs BRF performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/14/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | EWZS BRF | +22.12%+17.79% | +18.79%+15.73% | +24.83%+19.55% | +30.17%+31.66% | +39.18%+42.50% | +20.44%+22.45% |
| Flows | EWZS BRF | +$124M- | +$132M- | +$209M- | +$192M- | +$156M-$6M | +$316M-$10M |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | EWZS BRF | +39.42%+37.74% | +33.75%+31.55% | +30.00%+28.07% | +32.75%+30.98% |
| Max drawdown | EWZS BRF | -12.91%-11.10% | -26.15%-26.53% | -37.10%-36.58% | -42.71%-41.31% |
| Max drawdown duration | EWZS BRF | 52d48d | 176d170d | 707d684d | 1394d1388d |
Trading data
EWZS | BRF | |
Last sale 10/15/2026 at 1:30 PM | $15.58 | $19.18 |
| Previous close 10/14/2026 | $16.14 | $19.79 |
| Consolidated volume 10/14/2026 | ||
| 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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EWZS | BRF | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 10/15/2026 at 1:30 PM
Live
Closed
EWZS | BRF | |
|---|---|---|
| Last price | $15.58 | $19.18 |
| 1D performance | -3.47% | -3.08% |
| AuM | $414.16 M | $26.06 M |
| E/R | 0.59% | 0.97% |
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Exposure
Countries
EWZS
Brazil
96.27%
Other
3.73%
BRF
Brazil
90.82%
Other
9.18%
Sectors
EWZS
Finance
28.51%
Utilities
14.88%
Consumer Non-Cycl.
14.48%
Non-Energy Materi.
10.27%
Other
31.86%
BRF
Finance
25.47%
Non-Energy Materi.
13.44%
Consumer Non-Cycl.
12.1%
Consumer Cyclical.
11.88%
Utilities
9.63%
Other
27.48%
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Diversification
EWZS
Total weight of top 15 holdings out of 15
48.42%
BRF
Total weight of top 15 holdings out of 15
39.41%
Top 15 holdings
Data as of August 31, 2026
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%
BRF
Alupar Investimento SA
4.09%
Cyrela Brazil Realty SA Empreendimentos e Participações
3.44%
Fleury SA
3.26%
Cury Construtora e Incorporadora SA
3.13%
Brava Energia SA
2.81%
Companhia de Saneamento do Paraná
2.81%
Orizon Valorização de Resíduos SA
2.69%
Bradespar SA
2.42%
Sylvamo Corp.
2.29%
Cogna Educação SA
2.20%
Usinas Siderurgicas de Minas Gerais SA-Usiminas
2.15%
Sigma Lithium Corp.
2.08%
Ituran Location & Control Ltd.
2.04%
Auren Energia SA
2.02%
Direcional Engenharia SA
1.98%
Frequently asked questions about EWZS and BRF
How have the EWZS and BRF ETFs performed in 2026?
As of October 14, 2026, EWZS is up 24.83% year-to-date (YTD), while BRF has returned 19.55%. That puts EWZS better performer ahead so far this year.
Which ETF is attracting more investor money: EWZS or BRF?
Year-to-date, the EWZS ETF saw +$209M in flows, compared to - for BRF.
Which ETF is more volatile: EWZS or BRF?
Over the past year, EWZS had a volatility of 33.75%, while BRF experienced 31.55%.
Which ETF is bigger: EWZS or BRF?
As of October 14, 2026, EWZS holds $414.16 M in assets under management (AUM), while BRF manages $26.06 M.
What sectors do the EWZS and BRF ETFs invest in?
EWZS leans toward sectors like Finance, Utilities and Consumer Non-Cyclicals. Meanwhile, BRF focuses on Finance, Non-Energy Materials and Consumer Non-Cyclicals.
What are the top holdings of the EWZS ETF and BRF ETF?
EWZS top holdings include TOTVS SA, Companhia de Saneamento de Minas Gerais and Sendas Distribuidora SA. BRF holds in its top three: Alupar Investimento SA, Cyrela Brazil Realty SA Empreendimentos e Participações and Fleury SA.
Which ETF is more diversified: EWZS or BRF?
EWZS holds 69 securities with 48.42% of its assets in the top 15. BRF has 86 securities and a top 15 weight of 39.41%.
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