iShares MSCI Brazil Small-Cap ETF
ALTAR
Score™		 12.6% info Recommen-
dation		 SPECULATIVE
2025E    2026E
P/E
ratio		 9.2x P/Sales
ratio		 0.5x
P/BV
ratio		 0.8x Div.
yield		 4.5%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
iShares MSCI Brazil Small-Cap ETF is an exchange-traded fund incorporated in the USA. The ETF seeks to track the performance of the MSCI Brazil Small Cap Index Fund.

FUND BASICS
Category Emerging Market Equities
Fund Sponsor BlackRock Fund Advisors
Website www.ishares.com
Inception date Sep 28, 2010
Assets (mns) $207
Currency USD
Expense ratio 59 bp
Distributions Semi-annual

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian State Street Bank & Trust Co
Weighting Market Cap
Index replication Optimized
Uses derivatives No
Options available Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 71
Wgt avg mkt cap (mns) $1,393
Large cap (>$10bn) 1.4%
Mid cap ($2-10bn) 39.5%
Small cap (<$2bn) 52.8%
Developed mkts 9.1%
Emerging mkts 90.9%

TOP TEN HOLDINGS
TOTVS SA 5.7 %
LOJAS RENNER S.A. 4.8 %
SENDAS DISTRIBUIDORA SA 3.8 %
ALLOS SA 3.6 %
CIA SANEAMENTO MINAS GERAIS 3.5 %
MULTIPLAN EMPREENDIMENTOS 3.1 %
NATURA SA 2.9 %
METALURGICA GERDAU SA-PREF 2.8 %
SMARTFIT ESCOLA DE GINASTICA E DAN 2.4 %
BRAVA ENERGIA 2.4 %
Total 35.1 %

TOP COUNTRY EXPOSURE
BRAZIL 75.8 %
CANADA 1.4 %
CAYMAN ISLANDS 1.2 %








HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru May 31)
Year-to-date 1 year 5 years 10 years Since Incep.
8.5% 16.2% -2.2% 9.0% -0.8%

Market Correlations
versus... Beta R-squared
S&P500 1.43 31%
MSCI EAFE 1.31 43%
MSCI Emg. Mkts. 0.97 41%

Technical Indicators
Recent close $12.59
30d moving avg. $14.16
Annualized volatility 30.0%
Short interest (ETF) 3.1%
Relative strength (RSI) 45

Liquidity measures
Avg. volume (thou.) 360
Turnover 2.2%
Bid/Ask (% of price) 0.22%
ADV underlying (mns) $503

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 133 potential alternatives to the iShares MSCI Brazil Small-Cap ETF ETF based on the alternatives' overlap in portfolio holdings with EWZS. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: EWZS Expense: 59 bp ALTAR Score™: 12.6%


ALTERNATIVE ETFs BASED ON OVERLAP WITH EWZS
Ticker Fund
Name		 Overlap1
vs EWZS
(%)		 Expense
ratio
(bp)		 Savings
vs EWZS
(bp)		 ALTAR
Score™
(%)		 ALTAR
vs EWZS
(%)
JIVE JPMorgan International Value ETF 8.3 55 4 8.1 -4.5
FEMS First Trust Emerging Markets Small Cap AlphaDEX Fund 8.2 80 -21 11.7 -0.9
SDIV Global X Superdividend ETF 7.6 58 1 14.0 +1.5
OTGL OTG Latin America ETF 6.5 269 -210 7.8 -4.7
DVYE iShares Emerging Markets Dividend ETF 5.9 49 10 18.1 +5.6
FLBR Franklin FTSE Brazil ETF 4.5 19 40 12.4 -0.2
DGS WisdomTree Emerging Markets SmallCap Dividend Fund 4.2 58 1 8.0 -4.6
BRAZ Global X Brazil Active ETF 4.2 75 -16 10.9 -1.7
AVEE Avantis Emerging Markets Small Cap Equity ETF 3.4 42 17 7.2 -5.3
EYLD Cambria Emerging Shareholder Yield ETF 3.1 66 -7 8.6 -3.9
FLLA Franklin FTSE Latin America ETF 2.8 19 40 10.7 -1.8
EEMS iShares MSCI Emerging Markets Small Cap ETF 2.6 70 -11 6.1 -6.4
EWX SPDR S&P Emerging Markets Small Cap ETF 2.2 65 -6 6.1 -6.5
PIE Invesco Dorsey Wright Emerging Markets Momentum ETF 2.1 90 -31 3.3 -9.3
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 1.9 59 0 7.9 -4.7
DEM WisdomTree Emerging Markets High Dividend Fund 1.7 63 -4 9.9 -2.7
CGW Invesco S&P Global Water Index ETF 1.7 57 2 4.5 -8.0
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 1.5 44 15 9.3 -3.3
CGV Conductor Global Equity Value ETF 1.5 130 -71 7.6 -5.0
ECOW Pacer Emerging Markets Cash Cows 100 ETF 1.4 70 -11 9.4 -3.2
PBW Invesco WilderHill Clean Energy ETF 1.4 66 -7 -2.6 -15.2
ION ProShares S&P Global Core Battery Metals ETF 1.4 58 1 5.6 -7.0
LITP Sprott Lithium Miners ETF 1.4 65 -6 0.8 -11.8
REMX VanEck Rare Earth/Strategic Metals ETF 1.4 54 5 2.4 -10.1
ILIT iShares Lithium Miners and Producers ETF 1.4 47 12 3.1 -9.5
AQWA Global X Clean Water ETF 1.3 50 9 4.9 -7.6
SURE AdvisorShares Insiders Advantage ETF 1.2 90 -31 7.7 -4.9
EFRA iShares Environmental Infrastructure and Industrials ETF 1.1 47 12 5.0 -7.5
UEVM VictoryShares Emerging Markets Value Momentum ETF 1.1 45 14 9.5 -3.1
VIDI Vident International Equity Strategy ETF 1.0 61 -2 8.0 -4.6
FDLS Inspire Fidelis Multi Factor ETF 1.0 76 -17 3.1 -9.4
IPAY ETFMG Prime Mobile Payments ETFMG Prime Mobile Payments Fund 0.9 75 -16 6.5 -6.1
FMQQ FMQQ The Next Frontier Internet & Ecommerce ETF 0.9 86 -27 0.3 -12.3
DEXC Dimensional Emerging Markets ex China Core EquityETF 0.9 53 6 4.5 -8.1
DTEC ALPS Disruptive Technologies ETF 0.8 50 9 3.7 -8.8
AVSE Avantis Responsible Emerging Markets Equity ETF 0.8 33 26 6.0 -6.5
PSP Invesco Global Listed Private Equity ETF 0.8 106 -47 6.9 -5.7
EMMF WisdomTree Emerging Markets Multifactor Fund 0.7 48 11 7.8 -4.7
XC WisdomTree Emerging Markets Ex-China Fund 0.7 32 27 6.3 -6.2
WOOD iShares Global Timber & Forestry ETF 0.7 42 17 11.6 -1.0
DFSE Dimensional Emerging Markets Sustainability Core 1 ETF 0.7 41 18 6.4 -6.2
SETM Sprott Energy Transition Materials ETF 0.7 65 -6 1.6 -10.9
AVES Avantis Emerging Markets Value ETF 0.7 36 23 8.4 -4.1
XCNY SPDR S&P Emerging Markets ex-China ETF 0.6 15 44 5.3 -7.2
AVXC Avantis Emerging Markets Ex-China Equity ETF 0.6 33 26 5.5 -7.1
PSC Principal U.S. Small-Cap ETF 0.6 38 21 3.5 -9.1
EMC Global X Emerging Markets Great Consumer ETF 0.6 75 -16 6.5 -6.1
DFEM Dimensional Emerging Markets Core Equity 2 ETF 0.6 38 21 6.4 -6.1
ROAM Hartford Multifactor Emerging Markets ETF 0.6 44 15 7.0 -5.6
VSS Vanguard FTSE All-World ex-US Small-Cap ETF 0.6 8 51 6.2 -6.4
GRID First Trust Nasdaq Clean Edge Smart GRID Infrastructure 0.5 58 1 3.2 -9.3
RWX SPDR Dow Jones International Real Estate ETF 0.5 59 0 7.3 -5.3
PXH Invesco FTSE RAFI Emerging Markets ETF 0.5 49 10 13.1 +0.6
AVEM Avantis Emerging Markets Equity ETF 0.5 33 26 6.4 -6.1
QCLN First Trust Nasdaq Clean Edge Green Energy Index Fund 0.4 58 1 -1.7 -14.2
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 0.4 39 20 13.4 +0.9
AFSM First Trust Active Factor Small Cap ETF 0.4 75 -16 5.5 -7.1
DFEV Dimensional Emerging Markets Value ETF 0.4 43 16 8.6 -3.9
CARZ First Trust NASDAQ Global Auto Index Fund 0.4 70 -11 2.0 -10.5
VWO Vanguard FTSE Emerging Markets ETF 0.4 7 52 8.8 -3.8
HAUZ DBX ETF Trust - Xtrackers International Real Estate ETF 0.4 10 49 8.7 -3.9
PICK iShares MSCI Global Metals & Mining Producers ETF 0.3 39 20 7.8 -4.7
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 0.3 50 9 7.7 -4.9
IEMG iShares Core MSCI Emerging Markets ETF 0.3 9 50 7.6 -5.0
RNEM First Trust Emerging Markets Equity Select ETF 0.3 75 -16 7.9 -4.6
EDIV SPDR S&P Emerging Markets Dividend ETF 0.3 49 10 8.8 -3.7
DFAE Dimensional Emerging Core Equity Market ETF 0.3 35 24 6.4 -6.2
NUEM Nuveen ESG Emerging Markets Equity ETF 0.3 36 23 5.6 -7.0
VEXC Vanguard Emerging Markets Ex-China ETF 0.3 7 52 5.4 -7.1
FINX Global X FinTech ETF 0.3 68 -9 3.0 -9.6
FTAG First Trust Indxx Global Agriculture ETF 0.3 70 -11 7.3 -5.3
CUT Invesco MSCI Global Timber ETF 0.3 61 -2 8.4 -4.1
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 0.3 32 27 6.8 -5.8
VEGI iShares MSCI Agriculture Producers ETF 0.3 39 20 7.9 -4.7
SPEM SPDR Portfolio Emerging Markets ETF 0.3 7 52 9.1 -3.5
EMQQ EMQQ The Emerging Markets Internet & Ecommerce ETF 0.2 86 -27 13.4 +0.8
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 0.2 95 -36 9.5 -3.1
DFAX Dimensional World ex U.S. Core Equity 2 ETF 0.2 30 29 6.1 -6.4
LIT Global X Lithium & Battery Tech ETF 0.2 75 -16 4.7 -7.8
BSVO EA Bridgeway Omni Small-Cap Value ETF 0.2 47 12 7.6 -5.0
CCSO Carbon Collective Climate Solutions US Equity ETF 0.2 35 24 0.9 -11.7
ERTH Invesco MSCI Sustainable Future ETF 0.2 62 -3 3.0 -9.5
EEMO Invesco S&P Emerging Markets Momentum ETF 0.2 29 30 5.5 -7.1
NFRA FlexShares STOXX Global Broad Infrastructure Index Fund 0.2 47 12 5.0 -7.5
SCHE Schwab Emerging Markets Equity ETF 0.2 11 48 9.1 -3.4
FLQS Franklin U.S. Small Cap Multifactor Index ETF 0.2 35 24 5.9 -6.6
VNQI Vanguard Global ex-U.S. Real Estate ETF 0.2 12 47 8.6 -3.9
XCEM Columbia EM Core ex-China ETF 0.1 16 43 4.4 -8.2
GUNR FlexShares Morningstar Global Upstream Natural Resources Ind 0.1 46 13 8.1 -4.5
RWO SPDR Dow Jones Global Real Estate ETF 0.1 50 9 6.3 -6.2
VSGX Vanguard ESG International Stock ETF 0.1 10 49 6.3 -6.3
IXUS iShares Core MSCI Total International Stock ETF 0.1 7 52 6.4 -6.2
JEMA JPMorgan ActiveBuilders Emerging Markets Equity ETF 0.1 33 26 6.1 -6.5
GSSC Goldman Sachs Activebeta U.S. Small Cap Equity ETF 0.1 20 39 3.8 -8.7
VXUS Vanguard Total International Stock ETF 0.1 5 54 6.4 -6.2
IWO iShares Russell 2000 Growth ETF 0.1 24 35 0.5 -12.1
GINN Goldman Sachs Innovate Equity ETF 0.1 52 7 3.7 -8.9
EMCR Xtrackers Emerging Markets Carbon Reduction and Climate Impr 0.1 15 44 8.2 -4.3
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 0.1 32 27 4.4 -8.2
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 0.1 45 14 7.4 -5.2
VFVA Vanguard U.S. Value Factor ETF 0.1 13 46 9.5 -3.1
VTWG Vanguard Russell 2000 Growth ETF 0.1 10 49 0.6 -12.0
KOMP State Street SPDR S&P Kensho New Economies Composite ETF 0.1 20 39 0.8 -11.8
RSSL Global X Russell 2000 ETF 0.1 8 51 2.6 -10.0
IWM iShares Russell 2000 ETF 0.1 19 40 2.5 -10.1
GWX SPDR S&P International Small Cap ETF 0.1 40 19 5.7 -6.8
FTRI First Trust Indxx Global Natural Resources Income ETF 0.1 70 -11 6.8 -5.8
OMFS Invesco Russell 2000 Dynamic Multifactor ETF 0.1 39 20 3.4 -9.2
VYMI Vanguard International High Dividend Yield ETF 0.1 17 42 8.0 -4.6
VTWO Vanguard Russell 2000 ETF 0.1 7 52 2.6 -9.9
VEU Vanguard FTSE All-World ex-US Index Fund 0.1 4 55 6.5 -6.1
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 0.1 36 23 6.9 -5.6
DEHP Dimensional Emerging Markets High Profitability ETF 0.0 41 18 4.3 -8.3
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.0 9 50 4.8 -7.8
BKEM BNY Mellon Emerging Markets Equity ETF 0.0 11 48 7.2 -5.3
PRFZ Invesco FTSE RAFI US 1500 Small-Mid ETF 0.0 39 20 2.2 -10.4
IWN iShares Russell 2000 Value ETF 0.0 24 35 4.6 -7.9
VTWV Vanguard Russell 2000 Value ETF 0.0 10 49 4.8 -7.8
VT Vanguard Total World Stock ETF 0.0 6 53 4.9 -7.7
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 0.0 66 -7 6.6 -6.0
WRND IQ Global Equity R&D Leaders ETF 0.0 18 41 3.9 -8.6
SMMD iShares Russell 2500 ETF 0.0 15 44 5.3 -7.3
CWI SPDR MSCI ACWI ex-US ETF 0.0 30 29 6.2 -6.4
GXUS Goldman Sachs MarketBeta Total International Equity ETF 0.0 18 41 6.1 -6.5
DEW WisdomTree Global High Dividend Fund 0.0 58 1 7.3 -5.3
SFGV Sequoia Global Value ETF 0.0 23 36 7.0 -5.5
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 0.0 41 18 5.7 -6.9
DNL WisdomTree Global ex-US Quality Dividend Growth Fund 0.0 42 17 3.8 -8.7
ONEQ Fidelity Nasdaq Composite Index ETF 0.0 21 38 2.8 -9.8
VYM Vanguard High Dividend Yield Index ETF 0.0 6 53 6.1 -6.5
IWV iShares Russell 3000 ETF 0.0 20 39 4.0 -8.6
ESGV Vanguard ESG U.S. Stock ETF 0.0 9 50 4.1 -8.5
VTHR Vanguard Russell 3000 ETF 0.0 7 52 4.1 -8.5

1Overlap is the percentage of holdings by weight that are identical. For example, if Fund A has a 2% position in Apple, Inc. (AAPL) and Fund B has a 5% position, their overlapping position in AAPL is 2%.

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RESULTS & ESTIMATES

  2020 2021 2022 2023 2024 2025E 2026E
Sales per share ** ** ** ** ** ** **
Earnings per share ** ** ** ** ** ** **
Dividends per share info ** ** ** ** ** ** **
Book value per share ** ** ** ** ** ** **

 

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

OTHER FUNDAMENTAL METRICS

Long term EPS growth est. **%   Debt-to-equity **x
Asset turnover **%   Assets-to-equity **x

Return on equity

Revision activity*
*Six months ago = 100

Net margins

Compound annual growth rates

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VALUATION METRICS
  2024 2025E 2026E
Price-to-sales ** ** **
Price-to-earnings ** ** **
Price-to-cash flow ** ** **
Price-to-growth ** ** **
Price-to-book value ** ** **
Yield ** ** **

Historical valuation trends

Forward
multiple:		 iShares MSCI Brazil Small-Cap ETF
Relative
to:		 S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

SPECULATIVE
Deeply undervalued but risky. A rating of SPECULATIVE is assigned to ETFs with ALTAR Scores in the top quintile (the top 20%) of their category, indicating exceptional appreciation potential. However, often these are narrowly-focused funds or in industries with structural issues, which may also make them very risky. Nonetheless they may still be useful as part of a well-diversified portfolio.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 10.6 %
Divided by: Fwd. P/BV 0.8 x
Less: Expense ratio 59 bp
Equals: ALTAR Score 12.6 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.62 CATEGORY
AVERAGE		 1.53
 
The composite rating is a weighted average of analysts' consensus recommendations for individual ETF constituents, based on the following scale:

BUY = 1; OVERWEIGHT = 1.5, HOLD = 2; UNDERWEIGHT = 2.5; and SELL = 3.

Readers are cautioned that because analyst ratings tend to be inflated, the composite score may be more useful as a relative measure of sentiment between funds rather than as a stand-alone recommendation.
 

 

See RATING tab for calculation of ALTAR Score™
Risk & reward. Uses std. dev. as proxy for risk, ALTAR Score™ for return forecast.
Dividends paid by constituents to the fund. May differ from actual distributions to shareholders due to constituent changes, timing issues or other factors.
Monthly returns based on changes in price plus dividends. May differ from daily returns reported by funds. See below for standardized returns.