ILFvsEWZETF Comparison
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iShares Latin America 40 ETF (ILF) and iShares MSCI Brazil ETF (EWZ) belong to the same industry segment: LatAm Blended Cap. ILF's top 3 sector exposures are Finance, Non-Energy Materials and Energy. In contrast, EWZ's top sector exposures are Finance, Energy and Non-Energy Materials. ILF is less expensive with a Total Expense Ratio (TER) of 0.47%, versus 0.59% for EWZ. ILF is up 11.31% year-to-date (YTD) with +$874M in YTD flows. EWZ performs worse with 9.33% YTD performance, and +$5.08B in YTD flows. Run a side-by-side ETF comparison of ILF and EWZ 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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ILF vs EWZ performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/27/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | ILF EWZ | -1.78%-4.69% | -3.67%-3.84% | +11.31%+9.33% | +20.34%+17.20% | +57.54%+37.13% | +86.17%+67.28% |
| Flows | ILF EWZ | -$223M+$3.95B | -$121M+$3.26B | +$874M+$5.08B | +$1.24B+$5.59B | +$1.67B+$6.34B | +$1.97B+$6.74B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | ILF EWZ | +32.59%+50.28% | +26.05%+33.70% | +21.90%+26.70% | +23.44%+28.50% |
| Max drawdown | ILF EWZ | -12.47%-21.17% | -13.57%-21.17% | -23.91%-31.40% | -29.63%-32.10% |
| Max drawdown duration | ILF EWZ | 15d15d | 171d15d | 608d680d | 435d605d |
Trading data
ILF | EWZ | |
Last sale 10/28/2026 at 1:30 PM | $32.98 | $33.62 |
| Previous close 10/27/2026 | $33.46 | $34.30 |
| 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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ILF | EWZ | |
|---|---|---|
| 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
ILF | EWZ | |
|---|---|---|
| Last price | $32.98 | $33.62 |
| 1D performance | -1.43% | -1.98% |
| AuM | $3.53 B | $11.18 B |
| E/R | 0.47% | 0.59% |
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Exposure
Countries
ILF
Brazil
55%
Mexico
26.08%
Other
18.92%
EWZ
Brazil
95.66%
Other
4.34%
Sectors
ILF
Finance
36.91%
Non-Energy Materi.
22.7%
Energy
12.53%
Consumer Non-Cycl.
9.92%
Other
17.94%
EWZ
Finance
35.25%
Energy
15.71%
Non-Energy Materi.
13.96%
Utilities
12.78%
Industrials
7.43%
Other
14.87%
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Diversification
ILF
Total weight of top 15 holdings out of 15
68.33%
EWZ
Total weight of top 15 holdings out of 15
69.27%
Top 15 holdings
Data as of August 31, 2026
ILF
Nu Holdings Ltd.
8.63%
Vale SA
8.18%
Grupo México S.A.B. de C.V.
6.63%
Itaú Unibanco Holding SA
6.36%
Petróleo Brasileiro SA
5.93%
Petróleo Brasileiro SA
5.56%
Grupo Financiero Banorte SAB de CV
4.22%
Credicorp Ltd.
3.85%
America Movil SAB de CV
3.21%
Fomento Economico Mexicano SAB de CV
3.11%
Southern Copper Corp.
2.73%
Banco Bradesco SA
2.68%
CEMEX SAB de CV
2.52%
B3 SA-Brasil, Bolsa, Balcão
2.44%
Itausa SA
2.27%
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%
Frequently asked questions about ILF and EWZ
How have the ILF and EWZ ETFs performed in 2026?
As of October 27, 2026, ILF is up 11.31% year-to-date (YTD), while EWZ has returned 9.33%. That puts ILF better performer ahead so far this year.
Which ETF is attracting more investor money: ILF or EWZ?
Year-to-date, the ILF ETF saw +$874M in flows, compared to +$5.08B for EWZ.
Which ETF is more volatile: ILF or EWZ?
Over the past year, ILF had a volatility of 26.05%, while EWZ experienced 33.7%.
Which ETF is bigger: ILF or EWZ?
As of October 27, 2026, ILF holds $3.53 B in assets under management (AUM), while EWZ manages $11.18 B.
What sectors do the ILF and EWZ ETFs invest in?
ILF leans toward sectors like Finance, Non-Energy Materials and Energy. Meanwhile, EWZ focuses on Finance, Energy and Non-Energy Materials.
What are the top holdings of the ILF ETF and EWZ ETF?
ILF top holdings include Nu Holdings Ltd., Vale SA and Grupo México S.A.B. de C.V.. EWZ holds in its top three: Vale SA, Nu Holdings Ltd. and Itaú Unibanco Holding SA.
Which ETF is more diversified: ILF or EWZ?
ILF holds 42 securities with 68.33% of its assets in the top 15. EWZ has 46 securities and a top 15 weight of 69.27%.
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Latest news about ILF & EWZ
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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