ATLASiShares MSCI Brazil ETF (EWZ): outlook, holdings and fees
iShares MSCI Brazil ETF (EWZ) is an exchange-traded fund and is managed by iShares. The expense ratio is 0.57% and the yield is 3.88%. The ten largest holdings are 57% of the fund.
Fund data as of Oct 14, 2026 · Price Nov 2, 2026
ATLAS view on EWZ
| Last price | $32.50 (+0.1%) |
|---|---|
| ATLAS chance of a higher price in 1 month | 46% |
| Likely 1-month range (50%) | $28.14 – $36.29 |
| Normal 1-day range (±1σ) | ±4.3% |
| Distribution yield | 3.88% |
ATLAS probabilities use the same calibrated model as every stock page. A fair value is shown for companies, not funds; the holdings below link to the fair value of each company.
EWZ fund facts
| Issuer | iShares |
|---|---|
| Theme | Latin America |
| Assets under management | $12.6B |
| Expense ratio | 0.57% |
| Number of holdings | 46 |
| Portfolio turnover | 22% |
| Inception | Jul 10, 2000 |
| Exchange | NYSE |
The fund generally will invest at least 80% of its assets in the component securities of its underlying index and in investments that have economic characteristics that are substantially identical to the component securities of its underlying index. The index is a free float-adjusted market capitalization-weighted index designed to measure the performance of the large- and mid- capitalization segments of the equity market in Brazil. The fund is non-diversified.
EWZ top holdings
| Holding | Sector | Weight |
|---|---|---|
| Nu Holdings Ltd NU | Financial Services | 8.84% |
| Itaú Unibanco Holding S.A ITUB4 | Financial Services | 8.28% |
| Vale S.A. VALE3 | Basic Materials | 7.47% |
| Petróleo Brasileiro S.A. - Petrobras PETR4 | Energy | 7.46% |
| Petróleo Brasileiro S.A. - Petrobras PETR3 | Energy | 7.44% |
| B3 S.A. - Brasil Bolsa Balcão B3SA3 | Financial Services | 4.17% |
| Banco Bradesco S.A. BBDC4 | Financial Services | 3.86% |
| Banco BTG Pactual S.A. BPAC11 | Financial Services | 3.31% |
| Centrais Elétricas Brasileiras S.A. - Eletrobrás AXIA3 | Utilities | 3.08% |
| WEG S.A. WEGE3 | Industrials | 3.05% |
Holdings with an ATLAS page link to their probability range, fair value and earnings calendar.
EWZ sector breakdown
| Sector | Weight |
|---|---|
| Financial Services | 36.1% |
| Energy | 17.8% |
| Utilities | 13.3% |
| Industrials | 11.7% |
| Basic Materials | 11.6% |
| Consumer Defensive | 3.9% |
| Healthcare | 2.4% |
| Communication Services | 1.6% |
| Consumer Cyclicals | 1.6% |
By region: Latin America 98.6%, North America 1.4%.
EWZ returns and risk
| Year to date | +37.7% |
|---|---|
| 1 year | +54.1% |
| 3 years (annualised) | +21.0% |
| 5 years (annualised) | +15.3% |
| 10 years (annualised) | +7.8% |
| Volatility (3 years) | 23.4% |
| Sharpe ratio (3 years) | 0.44 |
Past returns do not guarantee future results.
EWZ: frequently asked questions
What does EWZ invest in?
iShares MSCI Brazil ETF invests in a portfolio of securities. Its largest holdings are Nu Holdings Ltd (8.8%), Itaú Unibanco Holding S.A (8.3%), Vale S.A. (7.5%), Petróleo Brasileiro S.A. - Petrobras (7.5%), Petróleo Brasileiro S.A. - Petrobras (7.4%).
What is the EWZ expense ratio?
0.57% a year: about $57.00 for every $10,000 invested.
What is the EWZ dividend yield?
3.88%. ATLAS does not hold the exact distribution dates for ETFs.
Will EWZ go up?
Nobody can know. The ATLAS model puts the chance of a higher price in one month at 46%, with a likely range (50%) of $28.14 to $36.29 from $32.50 today. It is a probability, not a prediction.
How has EWZ performed?
Year to date +37.7%, one year +54.1%, three years +21.0% a year, five years +15.3% a year. Past returns do not guarantee future results.
Similar ETFs: Latin America
Educational information, not investment advice. Disclaimer