EWZS: ISHARES MSCI BRAZIL SMALL-CAP ETF
ETF Education Report: ISHARES MSCI BRAZIL SMALL-CAP ETF (EWZS)
What this ETF is trying to do
The ISHARES MSCI BRAZIL SMALL-CAP ETF (ticker: EWZS) is an exchange-traded fund that focuses on smaller companies in Brazil. It provides investors with exposure to a variety of businesses within the Brazilian market.
What the numbers show
The current price of EWZS is $17.05. To understand how the value has changed, we can look at different timeframes:
• Year-to-Date (YTD): The price return is approximately 31.86%. When including distributions, the total return is approximately 33.23%.
• One Year: The price return was approximately 29.61%, while the total return was approximately 34.71%.
• Three Years: The price return was approximately 35.21%, and the total return was approximately 50.35%.
It is important to know the difference between these numbers. The price return only shows how much the share price moved. The total return includes both the price movement and the cash distributions paid out to investors.
Based on an estimated price from roughly one year ago of $13.16, the fund has seen significant growth in its share price over the last 12 months.
Income and distribution explanation
This ETF pays out cash to investors, known as distributions. The distribution yield is approximately 2.99%. Over the last 12 months, there were 3 payouts. The frequency of these payments is described as irregular or less frequent.
While distributions provide cash income, they are not the same as total return. Investors should always look at the total return to see the full picture of how an investment performed.
NAV erosion explanation
"NAV erosion" refers to a decline in the Net Asset Value (the actual value of the assets held by the fund). If an ETF's price falls significantly, it can sometimes be a sign of erosion.
For EWZS, the erosion-risk score is 100, and the label indicates "No price erosion detected." The erosion severity is rated as "good," and there is no severe erosion-risk flag present.
Top Holdings
The following are some of the top holdings in this fund (note that this is a partial list):
• TOTVS SA: 5.13%
• LOJAS RENNER SA: 4.92%
• SENDAS DISTRIBUIDORA SA: 3.95%
• ALLOS SA: 3.69%
• NATURA COSMETICOS SA: 2.59%
• PAGSEGURO DIGITAL LTD CLASS A: 2.37%
• INTER & CO INC: 2.33%
• COSAN SA: 2.23%
• HYPERA SA: 2.21%
• BRAVA ENERGIA SA: 2.17%
Holdings can change over time. This data was last updated on October 4, 2026.
Pros
• The fund has shown positive price returns and total returns over the one-year and three-year periods.
• It provides a distribution yield of approximately 2.99%.
Cons
• The distributions are irregular and less frequent, meaning they do not happen on a set schedule.
• As an ETF focused on small-cap stocks in a specific country, it is subject to the risks of that specific market.
Beginner takeaway
When looking at EWZS, it is helpful to distinguish between the share price and the total return. While the share price has grown, the total return is even higher because it accounts for the cash distributions paid to shareholders. Always remember that a distribution yield tells you about cash income, but it does not guarantee the stability of your original investment.
Top Holdings
Structured portfolio holdings supplied by the ETF data provider. These figures are not generated by the AI article.
| # | Holding | Ticker | Weight |
|---|---|---|---|
| 1 | TOTVS SA | n/a | 5.13% |
| 2 | n/a | n/a | 5.10% |
| 3 | LOJAS RENNER SA | n/a | 4.92% |
| 4 | SENDAS DISTRIBUIDORA SA ORDINARY SHARES | n/a | 3.95% |
| 5 | ALLOS SA | n/a | 3.69% |
| 6 | n/a | n/a | 3.25% |
| 7 | n/a | n/a | 2.68% |
| 8 | n/a | n/a | 2.63% |
| 9 | NATURA COSMETICOS SA | n/a | 2.59% |
| 10 | n/a | n/a | 2.52% |