EWZ vs. IWM
Compare and contrast key facts about iShares MSCI Brazil ETF (EWZ) and iShares Russell 2000 ETF (IWM).
EWZ and IWM 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. IWM is a passively managed fund by iShares that tracks the performance of the Russell 2000 Index. It was launched on May 22, 2000. Both EWZ and IWM 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. IWM - Performance Comparison
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EWZ vs. IWM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EWZ iShares MSCI Brazil ETF | 20.84% | 48.81% | -30.41% | 32.62% | 12.09% | -17.32% | -20.35% | 27.67% | -2.52% | 23.62% |
IWM iShares Russell 2000 ETF | 0.93% | 12.66% | 11.38% | 16.83% | -20.48% | 14.54% | 20.03% | 25.39% | -11.12% | 14.58% |
Returns By Period
In the year-to-date period, EWZ achieves a 20.84% return, which is significantly higher than IWM's 0.93% return. Over the past 10 years, EWZ has underperformed IWM with an annualized return of 9.08%, while IWM has yielded a comparatively higher 9.76% annualized return.
EWZ
- 1D
- 4.41%
- 1M
- -0.88%
- YTD
- 20.84%
- 6M
- 28.18%
- 1Y
- 56.58%
- 3Y*
- 19.24%
- 5Y*
- 11.82%
- 10Y*
- 9.08%
IWM
- 1D
- 3.50%
- 1M
- -4.96%
- YTD
- 0.93%
- 6M
- 3.02%
- 1Y
- 25.66%
- 3Y*
- 12.94%
- 5Y*
- 3.34%
- 10Y*
- 9.76%
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EWZ vs. IWM - Expense Ratio Comparison
EWZ has a 0.59% expense ratio, which is higher than IWM's 0.19% expense ratio.
Return for Risk
EWZ vs. IWM — Risk / Return Rank
EWZ
IWM
EWZ vs. IWM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Brazil ETF (EWZ) and iShares Russell 2000 ETF (IWM). 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 | IWM | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.19 | 1.11 | +1.08 |
Sortino ratioReturn per unit of downside risk | 2.75 | 1.66 | +1.09 |
Omega ratioGain probability vs. loss probability | 1.37 | 1.21 | +0.16 |
Calmar ratioReturn relative to maximum drawdown | 4.89 | 1.82 | +3.06 |
Martin ratioReturn relative to average drawdown | 13.02 | 6.76 | +6.26 |
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 | IWM | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.19 | 1.11 | +1.08 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.43 | 0.15 | +0.28 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.27 | 0.43 | -0.16 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.18 | 0.34 | -0.16 |
Correlation
The correlation between EWZ and IWM is 0.51, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
EWZ vs. IWM - Dividend Comparison
EWZ's dividend yield for the trailing twelve months is around 4.29%, more than IWM's 1.02% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EWZ iShares MSCI Brazil ETF | 4.29% | 5.19% | 8.91% | 5.66% | 12.59% | 9.87% | 1.71% | 2.54% | 2.89% | 1.71% | 1.81% | 4.08% |
IWM iShares Russell 2000 ETF | 1.02% | 1.04% | 1.15% | 1.35% | 1.48% | 0.94% | 1.04% | 1.26% | 1.40% | 1.26% | 1.38% | 1.54% |
Drawdowns
EWZ vs. IWM - Drawdown Comparison
The maximum EWZ drawdown since its inception was -77.25%, which is greater than IWM's maximum drawdown of -59.05%. Use the drawdown chart below to compare losses from any high point for EWZ and IWM.
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Drawdown Indicators
| EWZ | IWM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -77.25% | -59.05% | -18.20% |
Max Drawdown (1Y)Largest decline over 1 year | -11.44% | -13.74% | +2.30% |
Max Drawdown (5Y)Largest decline over 5 years | -32.24% | -31.91% | -0.33% |
Max Drawdown (10Y)Largest decline over 10 years | -56.99% | -41.13% | -15.86% |
Current DrawdownCurrent decline from peak | -15.84% | -7.91% | -7.93% |
Average DrawdownAverage peak-to-trough decline | -36.09% | -10.83% | -25.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.29% | 3.70% | +0.59% |
Volatility
EWZ vs. IWM - Volatility Comparison
iShares MSCI Brazil ETF (EWZ) has a higher volatility of 12.21% compared to iShares Russell 2000 ETF (IWM) at 7.47%. This indicates that EWZ's price experiences larger fluctuations and is considered to be riskier than IWM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EWZ | IWM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.21% | 7.47% | +4.74% |
Volatility (6M)Calculated over the trailing 6-month period | 19.72% | 14.47% | +5.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.98% | 23.18% | +2.80% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 27.78% | 22.55% | +5.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 34.34% | 22.99% | +11.35% |