EWZ holdings and overlap
iShares MSCI Brazil ETF (EWZ) holds 46 positions in its iShares file of 2026-10-27. Its three largest are Nu Holdings Ltd. Class A (NU) at 8.54%, Petroleo Brasileiro Pref SA (PETR4.BR) at 8.45% and Cia Vale do Rio Doce SH (VALE3.BR) at 8.42%, and its ten largest make up 57.5% of the fund.
In its iShares file of 2026-10-27, EWZ holds none of the mega-cap tech companies and none of the ten largest US companies by market value. By country, 98.4% of EWZ is in Brazil.
What does EWZ hold, as of its issuer file of 2026-10-27?
EWZ spreads its weight across 46 positions, against a median of 41 across the 5 Latin America funds with a page here. The position EWZ carries furthest above that group is Petroleo Brasileiro Pref SA at 8.45% of the fund, a company the median fund in that group does not hold at all.
| Rank | Company | Weight | Weight bar |
|---|---|---|---|
| 1 | NU Nu Holdings Ltd. Class A | 8.54% | |
| 2 | PETR4.BR Petroleo Brasileiro Pref SA | 8.45% | |
| 3 | VALE3.BR Cia Vale do Rio Doce SH | 8.42% | |
| 4 | ITUB4.BR Itau Unibanco Holding Pref SA | 8.2% | |
| 5 | PETR3.BR Petroleo Brasileiro SA Petrobras | 8.07% | |
| 6 | BBDC4.BR Banco Bradesco Pref | 3.39% | |
| 7 | B3SA3.BR B3 Brasil Bolsa Balcao SA | 3.27% | |
| 8 | WEGE3.BR Weg | 3.13% | |
| 9 | AXIA3.BR Axia Energia SA | 3.08% | |
| 10 | ABEV3.BR Ambev SA | 2.99% | |
| 11 | BPAC11.BR Bco BTG Pactual Unt SA | 2.94% | |
| 12 | EMBJ3.BR Embraer | 2.8% | |
| 13 | SBSP3.BR Companhia de Saneamento Basico de | 2.56% | |
| 14 | ITSA4.BR Itausa Investimentos Itau Pref SA | 2.49% | |
| 15 | PRIO3.BR Petro Rio | 2.4% | |
| 16 | EQTL3.BR Equatorial SA | 1.75% | |
| 17 | VBBR3.BR Vibra Energia SA | 1.49% | |
| 18 | SUZB3.BR Suzano SA | 1.39% | |
| 19 | GGBR4.BR Gerdau Pref SA | 1.39% | |
| 20 | XP XP Inc. | 1.37% | |
| 21 | BBSE3.BR BB Seguridade SA | 1.27% | |
| 22 | BBAS3.BR Banco do Brasil SA | 1.23% | |
| 23 | RENT3.BR Localiza Rent A Car | 1.18% | |
| 24 | CPLE3.BR Cia Paranaense de Energia Copel | 1.18% | |
| 25 | RDOR3.BR Rede Dor Sao Luiz SA | 1.17% | |
| 26 | UGPA3.BR Ultrapar Participoes SA | 1.13% | |
| 27 | VIVT3.BR Telefonica Brasil SA | 1.08% | |
| 28 | JBS JBS N V NV | 1.02% | |
| 29 | ENEV3.BR Eneva | 1.0% | |
| 30 | RADL3.BR Raia Drogasil | 0.91% | |
| 31 | BBDC3.BR Banco Bradesco | 0.86% | |
| 32 | RAIL3.BR Rumo SA | 0.85% | |
| 33 | CMIG4.BR Cia Energetica de Minas Gerais Pre | 0.8% | |
| 34 | TIMS3.BR Tim | 0.71% | |
| 35 | MOTV3.BR Motiva Infraestrutura de Mobilidad | 0.69% | |
| 36 | KLBN11.BR Klabin Units SA | 0.69% | |
| 37 | ENGI11.BR Energisa Units | 0.67% | |
| 38 | CXSE3.BR Caixa Seguridade Participacoes SA | 0.62% | |
| 39 | AUGO Aura Minerals Inc | 0.59% | |
| 40 | EGIE3.BR Engie Brasil Energia SA | 0.54% | |
| 41 | CPFE3.BR CPFL Energia | 0.49% | |
| 42 | PSSA3.BR Porto Seguro SA | 0.39% | |
| 43 | AXIA7.BR Axia Energia PRF SA | 0.37% | |
| 44 | MBRF3.BR Marfrig Global Foods SA | 0.37% | |
| 45 | ITUB3.BR Itau Unibanco Holding SA | 0.35% | |
| 46 | AXIA21.BR Axia Energia PRF SA | 0.1% |
The most recent file iShares has published for EWZ is dated 2026-10-27, 1 day before these prices, which is the median for the iShares ETFs covered here. Every one of the 46 positions EWZ holds, with its weight, is in the fund's JSON file. See the other 43 ETFs with a page here that hold NU, and how their weights compare with the 8.54% EWZ gives it.
Category: Latin America, set by TickerInside from the ETF's own latest file. In its file of 2026-10-27, 100% of its stocks with a known country are in Brazil, which this site counts in Latin America. How categories are set.
https://tickerinside.com/api/v1/fund/ewz.jsonhttps://tickerinside.com/api/v1/fund/ewz.csv=IMPORTDATA("https://tickerinside.com/api/v1/fund/ewz.csv")If your sheet uses a decimal comma: =IMPORTDATA("https://tickerinside.com/api/v1/fund/ewz.csv"; ","; "en_US")curl -s https://tickerinside.com/api/v1/fund/ewz.jsonHow much money went into or out of EWZ?
On the close of Friday, October 23, 2026, EWZ neither created nor redeemed shares. Over its last 5 closes, a net inflow of $0, 3 of them measured.
From EWZ's own holdings files. Every ETF's latest flows.
How is EWZ split by sector and country?
A sector is found for 49.6% of EWZ's stock weight, under the 50% from which this page states sector weights; the weights found are in the fund's JSON file.
| Country | Weight | Weight bar |
|---|---|---|
| Brazil | 98.4% |
From its iShares file of 2026-10-27. How these are measured.
What did EWZ hold in its SEC reports since 2019?
In EWZ's SEC filings, its largest position went from Itau Unibanco Holding SA (ITUB3.BR) at 9.24% on 2019-11-30 to Vale SA (VALE3.BR) at 11.50% on 2026-05-31, across 27 quarterly reports.
| Report | Positions | Largest | Top 10 |
|---|---|---|---|
| 2019-11-30 | 56 | ITUB3.BR 9.24% | 53.0% |
| 2020-11-30 | 56 | VALE3.BR 14.54% | 55.7% |
| 2021-11-30 | 55 | VALE3.BR 15.27% | 56.5% |
| 2022-11-30 | 50 | VALE3.BR 18.41% | 58.6% |
| 2023-11-30 | 48 | VALE3.BR 13.35% | 56.5% |
| 2024-11-30 | 49 | NU 9.96% | 57.7% |
| 2025-11-30 | 45 | NU 12.42% | 57.4% |
| 2026-05-31 | 43 | VALE3.BR 11.50% | 58.7% |
The first report, then the last of each year, of the 27 reports EWZ filed on SEC Form N-PORT from 2019-11-30 to 2026-05-31, each company under its ticker today. Every position of every report is in its quarterly file, and at any date at /api/v1/history/ewz/{date}.json. How these are read.
What does EWZ share with other ETFs?
The ETF nearest to EWZ is ILF: the two hold 20.7% of their weight in common, in the 9 companies both own, and 27.1% of EWZ itself is also held there. No covered ETF holds more than that in common with EWZ; it duplicates nothing here closely.
| ETF | Overlap by weight | Of EWZ held there | Of that ETF in EWZ | Companies in both | Overlap bar |
|---|---|---|---|---|---|
| ILF | 20.7% | 27.1% | 21.2% | 9 | |
| PXH | 12.7% | 58.8% | 12.7% | 21 | |
| DVYE | 12.5% | 23.4% | 14.0% | 7 | |
| FNDE | 11.6% | 56.4% | 12.0% | 23 | |
| BKF | 11.5% | 100.0% | 11.6% | 46 | |
| EELV | 7.8% | 45.4% | 7.9% | 16 | |
| EQLT | 7.2% | 54.1% | 7.2% | 20 | |
| ICLN | 6.5% | 6.6% | 8.9% | 5 | |
| EMXC | 5.1% | 100.0% | 5.1% | 46 | |
| EEM | 4.1% | 100.0% | 4.1% | 46 | |
| HEEM | 4.1% | 100.0% | 4.1% | 46 | |
| EMXF | 3.8% | 42.3% | 3.8% | 21 |
FNDE's holdings are from its SEC Form N-PORT for the period ended 2026-08-31, filed 2026-10-27. The other ETFs' holdings are from their issuers' latest files. Check EWZ against any ETF in the ETF overlap calculator · how overlap is measured.
What adds something different to EWZ?
SOXX shares 0% of weight with EWZ and its weekly returns correlate with it at 0.18 over three years. The table lists the covered ETFs with the least in common with EWZ, least shared weight first and, among equals, lowest correlation.
| ETF | Name | Overlap by weight | Correlation, 3y | Companies in both |
|---|---|---|---|---|
| SOXX | iShares Semiconductor ETF | 0.0% | 0.18 | 0 |
| THRO | iShares U.S. Thematic Rotation Active ETF | 0.0% | 0.24 | 0 |
| USMV | iShares MSCI USA Min Vol Factor ETF | 0.0% | 0.25 | 0 |
| USRT | iShares Core U.S. REIT ETF | 0.0% | 0.25 | 0 |
| IYR | iShares U.S. Real Estate ETF | 0.0% | 0.26 | 0 |
| VLUE | iShares MSCI USA Value Factor ETF | 0.0% | 0.28 | 0 |
| IJH | iShares Core S&P Mid-Cap ETF | 0.0% | 0.30 | 0 |
| REET | iShares Global REIT ETF | 0.0% | 0.31 | 0 |
Cost, returns and risk
| Expense ratio | 0.59% |
|---|---|
| Dividend yield | 3.94% |
| Total return, 1 year | 12.7% |
| Total return, 3 years cumulative | 25.5% |
| Total return, 5 years cumulative | 65.8% |
| Volatility, annualised | 26.3% |
| Worst fall, 3 years | -30.6% |
| Beta against SPY, 3 years of weekly returns | 0.51 |
| Weight in the ten largest positions | 57.5% |
| Largest single position | 8.5% |
| Assets under management | $8.6B |
Expense ratio, yield and assets are reference data (the expense ratio from EWZ's SEC filing of 2025-12-19); the weight in the ten largest positions and the largest single position are from the issuer file of 2026-10-27; every other figure is computed here from weekly closes.
How it moves with the market
| Against | Correlation, 3 years | Covariance, annualised, in percent squared |
|---|---|---|
| SPY | 0.27barely linked | 98 |
| QQQ | 0.22barely linked | 111 |
Weekly total returns. What the bands mean · why the covariance is printed.
Year by year
| Year | Total return |
|---|---|
| 2026 | 6.8% |
| 2025 | 48.8% |
| 2024 | -30.4% |
| 2023 | 32.6% |
| 2022 | 12.1% |
One year
Where to go next
- EWZS, iShares MSCI Brazil Small-Cap ETF
- ILF, iShares Latin America 40 ETF
- EPU, iShares MSCI Peru and Global Exposure ETF
- EWW, iShares MSCI Mexico ETF
- Run a portfolio x-ray to see what EWZ carries once you look through it
- Compare EWZ against any other ETF in the builder
Holdings from the most recent file iShares has published, dated 2026-10-27. Prices through 2026-10-28. How every figure here is produced. Measurements, not investment advice.
Cite this page
TickerInside, iShares MSCI Brazil ETF (EWZ), holdings from the issuer's file of 2026-10-27, https://tickerinside.com/etf/ewz/, CC BY 4.0
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