EZA vs. EWZ
Compare and contrast key facts about iShares MSCI South Africa ETF (EZA) and iShares MSCI Brazil ETF (EWZ).
EZA and EWZ are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. EZA is a passively managed fund by iShares that tracks the performance of the MSCI South Africa Index. It was launched on Feb 7, 2003. 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. Both EZA and EWZ 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
EZA vs. EWZ - Performance Comparison
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EZA vs. EWZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EZA iShares MSCI South Africa ETF | 0.03% | 75.20% | 7.16% | 1.51% | -5.18% | 7.91% | -5.19% | 9.83% | -25.24% | 36.03% |
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% |
Returns By Period
In the year-to-date period, EZA achieves a 0.03% return, which is significantly lower than EWZ's 20.77% return. Over the past 10 years, EZA has underperformed EWZ with an annualized return of 7.86%, while EWZ has yielded a comparatively higher 9.07% annualized return.
EZA
- 1D
- 1.50%
- 1M
- -13.87%
- YTD
- 0.03%
- 6M
- 12.10%
- 1Y
- 52.70%
- 3Y*
- 24.18%
- 5Y*
- 11.19%
- 10Y*
- 7.86%
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%
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EZA vs. EWZ - Expense Ratio Comparison
Both EZA and EWZ have an expense ratio of 0.59%.
Return for Risk
EZA vs. EWZ — Risk / Return Rank
EZA
EWZ
EZA vs. EWZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI South Africa ETF (EZA) and iShares MSCI Brazil ETF (EWZ). 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.
| EZA | EWZ | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.69 | 2.12 | -0.43 |
Sortino ratioReturn per unit of downside risk | 2.14 | 2.68 | -0.54 |
Omega ratioGain probability vs. loss probability | 1.30 | 1.37 | -0.06 |
Calmar ratioReturn relative to maximum drawdown | 2.26 | 4.94 | -2.68 |
Martin ratioReturn relative to average drawdown | 8.76 | 13.14 | -4.38 |
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
| EZA | EWZ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.69 | 2.12 | -0.43 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.40 | 0.43 | -0.03 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.25 | 0.26 | -0.01 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.29 | 0.18 | +0.11 |
Correlation
The correlation between EZA and EWZ is 0.62, 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
EZA vs. EWZ - Dividend Comparison
EZA's dividend yield for the trailing twelve months is around 6.16%, more than EWZ's 4.30% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EZA iShares MSCI South Africa ETF | 6.16% | 6.16% | 7.26% | 2.84% | 3.90% | 2.05% | 5.51% | 12.27% | 3.81% | 1.55% | 4.10% | 3.03% |
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% |
Drawdowns
EZA vs. EWZ - Drawdown Comparison
The maximum EZA drawdown since its inception was -64.64%, smaller than the maximum EWZ drawdown of -77.25%. Use the drawdown chart below to compare losses from any high point for EZA and EWZ.
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Drawdown Indicators
| EZA | EWZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -64.64% | -77.25% | +12.61% |
Max Drawdown (1Y)Largest decline over 1 year | -23.31% | -11.44% | -11.87% |
Max Drawdown (5Y)Largest decline over 5 years | -34.94% | -32.24% | -2.70% |
Max Drawdown (10Y)Largest decline over 10 years | -62.25% | -56.99% | -5.26% |
Current DrawdownCurrent decline from peak | -15.66% | -15.89% | +0.23% |
Average DrawdownAverage peak-to-trough decline | -16.94% | -36.09% | +19.15% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.01% | 4.30% | +1.71% |
Volatility
EZA vs. EWZ - Volatility Comparison
iShares MSCI South Africa ETF (EZA) has a higher volatility of 13.33% compared to iShares MSCI Brazil ETF (EWZ) at 11.12%. This indicates that EZA's price experiences larger fluctuations and is considered to be riskier than EWZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EZA | EWZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.33% | 11.12% | +2.21% |
Volatility (6M)Calculated over the trailing 6-month period | 25.11% | 19.72% | +5.39% |
Volatility (1Y)Calculated over the trailing 1-year period | 31.40% | 25.98% | +5.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 28.33% | 27.76% | +0.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 31.31% | 34.34% | -3.03% |