EWZS vs. BRAZ
Compare and contrast key facts about iShares MSCI Brazil Small-Cap ETF (EWZS) and Global X Brazil Active ETF (BRAZ).
EWZS and BRAZ are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. EWZS is a passively managed fund by iShares that tracks the performance of the MSCI Brazil Small Cap Index. It was launched on Sep 28, 2010. BRAZ is a passively managed fund by Global X that tracks the performance of the Solactive Brazil Mid Cap Index. It was launched on Aug 16, 2023. Both EWZS and BRAZ 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
EWZS vs. BRAZ - Performance Comparison
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EWZS vs. BRAZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
EWZS iShares MSCI Brazil Small-Cap ETF | 14.54% | 45.18% | -35.95% | 8.71% |
BRAZ Global X Brazil Active ETF | 17.07% | 45.42% | -29.74% | 17.56% |
Returns By Period
In the year-to-date period, EWZS achieves a 14.54% return, which is significantly lower than BRAZ's 17.07% return.
EWZS
- 1D
- 6.99%
- 1M
- -4.90%
- YTD
- 14.54%
- 6M
- 9.55%
- 1Y
- 42.81%
- 3Y*
- 12.13%
- 5Y*
- 3.26%
- 10Y*
- 9.34%
BRAZ
- 1D
- 2.49%
- 1M
- -3.15%
- YTD
- 17.07%
- 6M
- 24.77%
- 1Y
- 52.97%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
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EWZS vs. BRAZ - Expense Ratio Comparison
EWZS has a 0.59% expense ratio, which is lower than BRAZ's 0.75% expense ratio.
Return for Risk
EWZS vs. BRAZ — Risk / Return Rank
EWZS
BRAZ
EWZS vs. BRAZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Brazil Small-Cap ETF (EWZS) and Global X Brazil Active ETF (BRAZ). 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.
| EWZS | BRAZ | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.36 | 2.10 | -0.73 |
Sortino ratioReturn per unit of downside risk | 1.92 | 2.66 | -0.74 |
Omega ratioGain probability vs. loss probability | 1.25 | 1.36 | -0.11 |
Calmar ratioReturn relative to maximum drawdown | 2.38 | 4.76 | -2.38 |
Martin ratioReturn relative to average drawdown | 6.97 | 13.26 | -6.28 |
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
| EWZS | BRAZ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.36 | 2.10 | -0.73 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.10 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.25 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.01 | 0.59 | -0.61 |
Correlation
The correlation between EWZS and BRAZ is 0.91, 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
EWZS vs. BRAZ - Dividend Comparison
EWZS's dividend yield for the trailing twelve months is around 3.38%, more than BRAZ's 2.91% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EWZS iShares MSCI Brazil Small-Cap ETF | 3.38% | 3.88% | 4.93% | 2.75% | 4.61% | 4.51% | 1.15% | 1.77% | 4.35% | 3.41% | 3.62% | 4.35% |
BRAZ Global X Brazil Active ETF | 2.91% | 3.41% | 4.16% | 1.88% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
EWZS vs. BRAZ - Drawdown Comparison
The maximum EWZS drawdown since its inception was -79.23%, which is greater than BRAZ's maximum drawdown of -31.02%. Use the drawdown chart below to compare losses from any high point for EWZS and BRAZ.
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Drawdown Indicators
| EWZS | BRAZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -79.23% | -31.02% | -48.21% |
Max Drawdown (1Y)Largest decline over 1 year | -17.05% | -10.93% | -6.12% |
Max Drawdown (5Y)Largest decline over 5 years | -48.78% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -63.15% | — | — |
Current DrawdownCurrent decline from peak | -24.68% | -4.98% | -19.70% |
Average DrawdownAverage peak-to-trough decline | -36.71% | -11.54% | -25.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.82% | 3.93% | +1.89% |
Volatility
EWZS vs. BRAZ - Volatility Comparison
iShares MSCI Brazil Small-Cap ETF (EWZS) has a higher volatility of 15.59% compared to Global X Brazil Active ETF (BRAZ) at 10.90%. This indicates that EWZS's price experiences larger fluctuations and is considered to be riskier than BRAZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EWZS | BRAZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 15.59% | 10.90% | +4.69% |
Volatility (6M)Calculated over the trailing 6-month period | 23.65% | 19.31% | +4.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 31.57% | 25.40% | +6.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 32.99% | 23.60% | +9.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 36.81% | 23.60% | +13.21% |