EWZ vs. BRZU
Compare and contrast key facts about iShares MSCI Brazil ETF (EWZ) and Direxion Daily Brazil Bull 2X Shares (BRZU).
EWZ and BRZU are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. EWZ is a passively managed fund by iShares that tracks the performance of the MSCI Brazil 25/50 Index. It was launched on Jul 10, 2000. BRZU is a passively managed fund by Direxion that tracks the performance of the MSCI Brazil 25/50 Index. It was launched on Apr 1, 2020. Both EWZ and BRZU are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
EWZ vs. BRZU - Performance Comparison
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EWZ vs. BRZU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EWZ iShares MSCI Brazil ETF | 20.77% | 48.81% | -30.41% | 32.62% | 12.09% | -17.32% | -20.35% | 27.67% | -2.52% | 23.62% |
BRZU Direxion Daily Brazil Bull 2X Shares | 40.14% | 97.99% | -57.07% | 55.48% | 8.30% | -39.23% | -91.34% | 57.02% | -37.21% | 30.80% |
Returns By Period
In the year-to-date period, EWZ achieves a 20.77% return, which is significantly lower than BRZU's 40.14% return. Over the past 10 years, EWZ has outperformed BRZU with an annualized return of 9.07%, while BRZU has yielded a comparatively lower -14.69% annualized return.
EWZ
- 1D
- -0.05%
- 1M
- -0.70%
- YTD
- 20.77%
- 6M
- 29.87%
- 1Y
- 54.76%
- 3Y*
- 19.22%
- 5Y*
- 11.80%
- 10Y*
- 9.07%
BRZU
- 1D
- -0.13%
- 1M
- -3.25%
- YTD
- 40.14%
- 6M
- 58.04%
- 1Y
- 111.48%
- 3Y*
- 26.12%
- 5Y*
- 10.30%
- 10Y*
- -14.69%
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EWZ vs. BRZU - Expense Ratio Comparison
EWZ has a 0.59% expense ratio, which is lower than BRZU's 1.29% expense ratio.
Return for Risk
EWZ vs. BRZU — Risk / Return Rank
EWZ
BRZU
EWZ vs. BRZU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Brazil ETF (EWZ) and Direxion Daily Brazil Bull 2X Shares (BRZU). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| EWZ | BRZU | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.12 | 2.17 | -0.05 |
Sortino ratioReturn per unit of downside risk | 2.68 | 2.53 | +0.16 |
Omega ratioGain probability vs. loss probability | 1.37 | 1.34 | +0.02 |
Calmar ratioReturn relative to maximum drawdown | 4.94 | 5.13 | -0.19 |
Martin ratioReturn relative to average drawdown | 13.14 | 13.31 | -0.17 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| EWZ | BRZU | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.12 | 2.17 | -0.05 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.43 | 0.19 | +0.24 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.26 | -0.17 | +0.44 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.18 | -0.34 | +0.52 |
Correlation
The correlation between EWZ and BRZU is 0.99, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
EWZ vs. BRZU - Dividend Comparison
EWZ's dividend yield for the trailing twelve months is around 4.30%, more than BRZU's 1.90% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EWZ iShares MSCI Brazil ETF | 4.30% | 5.19% | 8.91% | 5.66% | 12.59% | 9.87% | 1.71% | 2.54% | 2.89% | 1.71% | 1.81% | 4.08% |
BRZU Direxion Daily Brazil Bull 2X Shares | 1.90% | 2.39% | 8.73% | 3.24% | 4.70% | 6.29% | 0.78% | 0.95% | 1.04% | 0.74% | 0.00% | 0.00% |
Drawdowns
EWZ vs. BRZU - Drawdown Comparison
The maximum EWZ drawdown since its inception was -77.25%, smaller than the maximum BRZU drawdown of -99.71%. Use the drawdown chart below to compare losses from any high point for EWZ and BRZU.
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Drawdown Indicators
| EWZ | BRZU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -77.25% | -99.71% | +22.46% |
Max Drawdown (1Y)Largest decline over 1 year | -11.44% | -22.67% | +11.23% |
Max Drawdown (5Y)Largest decline over 5 years | -32.24% | -65.00% | +32.76% |
Max Drawdown (10Y)Largest decline over 10 years | -56.99% | -98.11% | +41.12% |
Current DrawdownCurrent decline from peak | -15.89% | -99.00% | +83.11% |
Average DrawdownAverage peak-to-trough decline | -36.09% | -89.43% | +53.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.30% | 8.73% | -4.43% |
Volatility
EWZ vs. BRZU - Volatility Comparison
The current volatility for iShares MSCI Brazil ETF (EWZ) is 11.12%, while Direxion Daily Brazil Bull 2X Shares (BRZU) has a volatility of 22.44%. This indicates that EWZ experiences smaller price fluctuations and is considered to be less risky than BRZU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EWZ | BRZU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.12% | 22.44% | -11.32% |
Volatility (6M)Calculated over the trailing 6-month period | 19.72% | 39.48% | -19.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.98% | 51.61% | -25.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 27.76% | 55.52% | -27.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 34.34% | 84.27% | -49.93% |