- ISIN
- US4642864007
- CUSIP
- 464286400
- Issuer
- iShares
- Inception Date
- Jul 10, 2000
- Region
- Latin America (Brazil)
- Category
- Latin America Equities
- Leveraged
- 1x (No leverage)
- Index Tracked
- MSCI Brazil 25/50 Index
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Large-Cap
- Asset Class Style
- Blend
- Assets Under Management
- $10B
Share Price Chart
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Performance
EWZ Performance Chart
iShares MSCI Brazil ETF (EWZ) is up 9.0% since the beginning of the year. EWZ is currently trading at $35 per share. Investors who bought $1,000 worth of EWZ shares 5 years ago would now be looking at an investment worth $1,235.
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Returns By Period
iShares MSCI Brazil ETF (EWZ) has returned 9.03% so far this year and 32.42% over the past 12 months. Over the last ten years, EWZ has returned 7.81% per year, falling short of the S&P 500 Index benchmark, which averaged 13.66% annually.
iShares MSCI Brazil ETF
- 1D
- -3.19%
- 1M
- -11.27%
- YTD
- 9.03%
- 6M
- 4.84%
- 1Y
- 32.42%
- 3Y*
- 11.04%
- 5Y*
- 4.31%
- 10Y*
- 7.81%
Benchmark (S&P 500 Index)
- 1D
- -0.74%
- 1M
- 4.90%
- YTD
- 10.35%
- 6M
- 10.28%
- 1Y
- 26.52%
- 3Y*
- 20.83%
- 5Y*
- 12.30%
- 10Y*
- 13.66%
EWZ Monthly Returns History
Based on dividend-adjusted daily data since Jul 14, 2000, EWZ's average daily return is +0.05%, while the average monthly return is +1.00%. At this rate, an investment would double in approximately 5.8 years.
Historically, 54% of months were positive and 46% were negative. The best month was Mar 2016 with a return of +28.4%, while the worst month was Mar 2020 at -38.6%. The longest winning streak lasted 7 consecutive months, and the longest losing streak was 6 months.
On a daily basis, EWZ closed higher 51% of trading days. The best single day was Oct 13, 2008 with a return of +25.6%, while the worst single day was Mar 16, 2020 at -23.1%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 16.59% | 4.56% | -0.88% | 3.41% | -9.55% | -3.54% | 9.03% | ||||||
| 2025 | 12.53% | -4.82% | 7.22% | 4.60% | 0.63% | 8.00% | -7.97% | 11.11% | 5.08% | 0.55% | 7.83% | -2.16% | 48.81% |
| 2024 | -5.84% | 0.27% | -1.79% | -4.29% | -4.61% | -4.62% | 1.61% | 7.56% | -1.27% | -5.80% | -8.14% | -7.71% | -30.41% |
| 2023 | 8.47% | -10.12% | 0.40% | 3.25% | 1.95% | 15.31% | 4.44% | -8.92% | -0.58% | -2.93% | 14.24% | 6.44% | 32.62% |
| 2022 | 12.65% | 4.02% | 14.96% | -13.33% | 7.57% | -18.66% | 5.95% | 5.17% | -2.92% | 10.26% | -3.64% | -4.52% | 12.09% |
| 2021 | -7.77% | -6.70% | 4.86% | 6.31% | 9.42% | 5.79% | -7.75% | -2.67% | -11.73% | -8.75% | -1.13% | 4.13% | -17.32% |
Benchmark Metrics
iShares MSCI Brazil ETF has an annualized alpha of 3.30%, beta of 1.22, and R2 of 0.39 versus S&P 500 Index. Calculated based on daily prices since July 17, 2000.
- This ETF captured 142.89% of S&P 500 Index gains and 132.57% of its losses - amplifying both gains and losses, but participating more in upside than downside.
- R2 of 0.39 means the benchmark explains less than half of this ETF's behavior - treat beta with caution or consider switching to a more representative benchmark.
- Alpha
- 3.30%
- Beta
- 1.22
- R²
- 0.39
- Upside Capture
- 142.89%
- Downside Capture
- 132.57%
Expense Ratio
EWZ has an expense ratio of 0.59%, placing it in the medium range.
Return for Risk
Risk / Return Rank
EWZ ranks 37 for risk / return — below 37% of ETFs on our site. The returns aren't fully compensating for the risk involved. This isn't necessarily a dealbreaker, but factor it into your decision — especially if you're risk-averse.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for iShares MSCI Brazil ETF (EWZ) and compare them to S&P 500 Index.
| EWZ | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.94 | ||
| Sortino ratioReturn per unit of downside risk | -1.26 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.41 | -0.17 |
| Calmar ratioReturn relative to maximum drawdown | 1.92 | 2.93 | -1.01 |
| Martin ratioReturn relative to average drawdown | 6.10 | 13.52 | -7.42 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Dividends
Dividend History
iShares MSCI Brazil ETF provided a 4.76% dividend yield over the last twelve months, with an annual payout of $1.65 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $1.65 | $1.65 | $2.01 | $1.98 | $3.52 | $2.77 | $0.63 | $1.21 | $1.11 | $0.69 | $0.60 | $0.84 |
Dividend yield | 4.76% | 5.19% | 8.91% | 5.66% | 12.59% | 9.87% | 1.71% | 2.54% | 2.89% | 1.71% | 1.81% | 4.08% |
Monthly Dividends
The table displays the monthly dividend distributions for iShares MSCI Brazil ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | ||||||
| 2025 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.52 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $1.13 | $1.65 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.91 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $1.09 | $2.01 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.76 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $1.22 | $1.98 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $1.50 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $2.02 | $3.52 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.63 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $2.14 | $2.77 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the iShares MSCI Brazil ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the iShares MSCI Brazil ETF was 77.25%, occurring on Jan 21, 2016. The portfolio has not yet recovered.
The current iShares MSCI Brazil ETF drawdown is 24.07%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2016 bear market2016 | -77.25%Jan 2016 | 7y 8mo | — | 18y 18dMay 2008 - now |
Dot-com crash2000–2002 | -72.21%Oct 2002 | 2y 1mo | 1y 2mo | 3y 4moSep 2000 - Jan 2004 |
2004 bear market2004 | -33.32%May 2004 | 3mo 28d | 4mo 24d | 8mo 22dJan 2004 - Oct 2004 |
2006 bear market2006 | -32.06%Jun 2006 | 1mo 4d | 6mo 17d | 7mo 21dMay 2006 - Dec 2006 |
2007 bear market2007 | -26.52%Aug 2007 | 23d | 1mo 9d | 2mo 2dJul 2007 - Sep 2007 |
Drawdown Indicators
| EWZ | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -77.25% | -56.78% | -20.47% |
Max Drawdown (1Y)Largest decline over 1 year | -16.99% | -9.10% | -7.89% |
Max Drawdown (3Y)Largest decline over 3 years | -31.36% | -18.90% | -12.46% |
Max Drawdown (5Y)Largest decline over 5 years | -32.24% | -25.43% | -6.81% |
Max Drawdown (10Y)Largest decline over 10 years | -56.99% | -33.92% | -23.07% |
Current DrawdownCurrent decline from peak | -24.07% | -0.74% | -23.33% |
Average DrawdownAverage peak-to-trough decline | -35.95% | -10.72% | -25.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.33% | 1.97% | +3.36% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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