iShares MSCI Brazil Small-Cap ETF
ALTAR
Score™		 12.2% info Recommen-
dation		 SPECULATIVE
2025E    2026E
P/E
ratio		 9.6x P/Sales
ratio		 0.5x
P/BV
ratio		 0.9x Div.
yield		 4.3%


  • 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) $241
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 %
CIA SANEAMENTO MINAS GERAIS 4.3 %
SENDAS DISTRIBUIDORA SA 3.9 %
ALLOS SA 3.6 %
LOJAS RENNER S.A. 3.5 %
STONECO LTD. CLASS A 3.2 %
MULTIPLAN EMPREENDIMENTOS 3.2 %
METALURGICA GERDAU SA-PREF 2.9 %
SMARTFIT ESCOLA DE GINASTICA E DAN 2.8 %
ISA ENERGIA BRASIL PREF SA 2.8 %
Total 35.8 %

TOP COUNTRY EXPOSURE
BRAZIL 73.4 %
CAYMAN ISLANDS 1.1 %
CANADA 1.0 %








HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru August 31)
Year-to-date 1 year 5 years 10 years Since Incep.
0.1% -0.7% -2.3% 4.7% -1.3%

Market Correlations
versus... Beta R-squared
S&P500 1.32 30%
MSCI EAFE 1.32 45%
MSCI Emg. Mkts. 0.72 33%

Technical Indicators
Recent close $13.19
30d moving avg. $12.96
Annualized volatility 30.0%
Short interest (ETF) 2.1%
Relative strength (RSI) 37

Liquidity measures
Avg. volume (thou.) 257
Turnover 1.4%
Bid/Ask (% of price) 0.19%
ADV underlying (mns) $503

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 134 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™: 12.2%


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
(%)
SDIV Global X Superdividend ETF 7.2 58 1 14.1 +1.9
FEMS First Trust Emerging Markets Small Cap AlphaDEX Fund 7.1 80 -21 12.4 +0.3
DVYE iShares Emerging Markets Dividend ETF 5.7 49 10 17.4 +5.2
FLBR Franklin FTSE Brazil ETF 4.5 19 40 11.5 -0.7
DGS WisdomTree Emerging Markets SmallCap Dividend Fund 3.4 58 1 8.5 -3.7
EYLD Cambria Emerging Shareholder Yield ETF 3.4 66 -7 8.7 -3.5
OTGL OTG Latin America ETF 3.3 269 -210 7.7 -4.4
AVEE Avantis Emerging Markets Small Cap Equity ETF 3.1 42 17 7.7 -4.5
BRAZ Global X Brazil Active ETF 2.9 75 -16 10.0 -2.2
EEMS iShares MSCI Emerging Markets Small Cap ETF 2.7 70 -11 6.5 -5.7
FLLA Franklin FTSE Latin America ETF 2.6 19 40 10.6 -1.6
EWX SPDR S&P Emerging Markets Small Cap ETF 2.1 65 -6 6.6 -5.6
CGV Conductor Global Equity Value ETF 2.1 130 -71 7.7 -4.5
CGW Invesco S&P Global Water Index ETF 1.8 57 2 4.7 -7.5
IPAY ETFMG Prime Mobile Payments ETFMG Prime Mobile Payments Fund 1.7 75 -16 6.3 -5.9
FMQQ FMQQ The Next Frontier Internet & Ecommerce ETF 1.7 86 -27 0.3 -11.9
FDIG Fidelity Crypto Industry and Digital Payments ETF 1.6 39 20 -1.2 -13.3
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 1.5 59 0 8.5 -3.7
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 1.4 44 15 9.3 -2.8
PIE Invesco Dorsey Wright Emerging Markets Momentum ETF 1.4 90 -31 3.4 -8.8
DEM WisdomTree Emerging Markets High Dividend Fund 1.3 63 -4 9.9 -2.3
REMX VanEck Rare Earth/Strategic Metals ETF 1.2 54 5 3.6 -8.6
ION ProShares S&P Global Core Battery Metals ETF 1.2 58 1 6.7 -5.5
PBW Invesco WilderHill Clean Energy ETF 1.2 66 -7 -3.3 -15.5
LITP Sprott Lithium Miners ETF 1.2 65 -6 1.4 -10.8
ILIT iShares Lithium Miners and Producers ETF 1.2 47 12 4.4 -7.7
AQWA Global X Clean Water ETF 1.2 50 9 5.3 -6.8
VIDI Vident International Equity Strategy ETF 1.2 61 -2 8.1 -4.1
EFRA iShares Environmental Infrastructure and Industrials ETF 1.2 47 12 5.2 -7.0
DTEC ALPS Disruptive Technologies ETF 1.0 50 9 3.5 -8.7
UEVM VictoryShares Emerging Markets Value Momentum ETF 1.0 45 14 9.7 -2.5
SURE AdvisorShares Insiders Advantage ETF 0.9 90 -31 7.8 -4.4
FDLS Inspire Fidelis Multi Factor ETF 0.9 76 -17 3.2 -9.0
WOOD iShares Global Timber & Forestry ETF 0.8 42 17 11.1 -1.1
DBSC Deepwater Beachfront Small Cap ETF 0.8 85 -26 1.2 -11.0
BSVO EA Bridgeway Omni Small-Cap Value ETF 0.8 47 12 7.5 -4.7
DEXC Dimensional Emerging Markets ex China Core EquityETF 0.8 53 6 5.0 -7.2
PSP Invesco Global Listed Private Equity ETF 0.7 106 -47 7.0 -5.2
FINX Global X FinTech ETF 0.7 68 -9 3.0 -9.2
AVES Avantis Emerging Markets Value ETF 0.7 36 23 9.0 -3.1
XCNY SPDR S&P Emerging Markets ex-China ETF 0.6 15 44 5.6 -6.6
AVSE Avantis Responsible Emerging Markets Equity ETF 0.6 33 26 6.6 -5.6
AVXC Avantis Emerging Markets Ex-China Equity ETF 0.6 33 26 6.0 -6.1
ECOW Pacer Emerging Markets Cash Cows 100 ETF 0.6 70 -11 9.6 -2.5
DFSE Dimensional Emerging Markets Sustainability Core 1 ETF 0.6 41 18 6.8 -5.4
XC WisdomTree Emerging Markets Ex-China Fund 0.6 32 27 6.6 -5.6
GRID First Trust Nasdaq Clean Edge Smart GRID Infrastructure 0.6 58 1 3.7 -8.5
CARZ First Trust NASDAQ Global Auto Index Fund 0.5 70 -11 2.4 -9.7
AFSM First Trust Active Factor Small Cap ETF 0.5 75 -16 5.6 -6.6
DFEM Dimensional Emerging Markets Core Equity 2 ETF 0.5 38 21 6.9 -5.2
VSS Vanguard FTSE All-World ex-US Small-Cap ETF 0.5 8 51 6.3 -5.9
QCLN First Trust Nasdaq Clean Edge Green Energy Index Fund 0.5 58 1 -2.0 -14.2
RWX SPDR Dow Jones International Real Estate ETF 0.5 59 0 7.5 -4.7
PSC Principal U.S. Small-Cap ETF 0.5 38 21 3.6 -8.5
EMQQ EMQQ The Emerging Markets Internet & Ecommerce ETF 0.5 86 -27 14.2 +2.0
CVY Invesco Zacks Multi-Asset Income ETF 0.5 106 -47 9.9 -2.2
ROAM Hartford Multifactor Emerging Markets ETF 0.5 44 15 7.5 -4.7
AVEM Avantis Emerging Markets Equity ETF 0.4 33 26 7.0 -5.2
SETM Sprott Energy Transition Materials ETF 0.4 65 -6 1.9 -10.3
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 0.4 39 20 13.2 +1.1
FLQS Franklin U.S. Small Cap Multifactor Index ETF 0.4 35 24 6.1 -6.1
JIVE JPMorgan International Value ETF 0.4 55 4 7.9 -4.2
IPKW Invesco International BuyBack Achievers ETF 0.4 55 4 7.9 -4.3
IEMG iShares Core MSCI Emerging Markets ETF 0.4 9 50 8.1 -4.0
PXH Invesco FTSE RAFI Emerging Markets ETF 0.4 49 10 13.0 +0.9
VWO Vanguard FTSE Emerging Markets ETF 0.3 7 52 9.1 -3.0
CUT Invesco MSCI Global Timber ETF 0.3 61 -2 8.2 -4.0
HAUZ DBX ETF Trust - Xtrackers International Real Estate ETF 0.3 10 49 9.0 -3.2
EDIV SPDR S&P Emerging Markets Dividend ETF 0.3 49 10 9.0 -3.2
PICK iShares MSCI Global Metals & Mining Producers ETF 0.3 39 20 8.1 -4.0
RNEM First Trust Emerging Markets Equity Select ETF 0.3 75 -16 8.0 -4.2
VEXC Vanguard Emerging Markets Ex-China ETF 0.3 7 52 5.6 -6.5
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 0.3 50 9 8.0 -4.1
DFEV Dimensional Emerging Markets Value ETF 0.3 43 16 9.1 -3.1
DFAE Dimensional Emerging Core Equity Market ETF 0.3 35 24 6.9 -5.3
EMMF WisdomTree Emerging Markets Multifactor Fund 0.3 48 11 8.5 -3.7
SPEM SPDR Portfolio Emerging Markets ETF 0.3 7 52 9.4 -2.8
VEGI iShares MSCI Agriculture Producers ETF 0.3 39 20 7.3 -4.9
IWN iShares Russell 2000 Value ETF 0.2 24 35 4.7 -7.4
VTWV Vanguard Russell 2000 Value ETF 0.2 10 49 4.8 -7.3
GINN Goldman Sachs Innovate Equity ETF 0.2 52 7 3.7 -8.5
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 0.2 32 27 7.5 -4.6
LIT Global X Lithium & Battery Tech ETF 0.2 75 -16 5.7 -6.4
FTAG First Trust Indxx Global Agriculture ETF 0.2 70 -11 6.9 -5.3
ERTH Invesco MSCI Sustainable Future ETF 0.2 62 -3 3.5 -8.7
DFAX Dimensional World ex U.S. Core Equity 2 ETF 0.2 30 29 6.3 -5.9
CCSO Carbon Collective Climate Solutions US Equity ETF 0.2 35 24 1.1 -11.1
OMFS Invesco Russell 2000 Dynamic Multifactor ETF 0.2 39 20 3.6 -8.5
NFRA FlexShares STOXX Global Broad Infrastructure Index Fund 0.2 47 12 5.2 -7.0
VNQI Vanguard Global ex-U.S. Real Estate ETF 0.2 12 47 9.0 -3.2
SCHE Schwab Emerging Markets Equity ETF 0.2 11 48 9.4 -2.8
GSSC Goldman Sachs Activebeta U.S. Small Cap Equity ETF 0.2 20 39 4.0 -8.2
IWM iShares Russell 2000 ETF 0.2 19 40 2.7 -9.5
RSSL Global X Russell 2000 ETF 0.2 8 51 2.7 -9.4
VTWO Vanguard Russell 2000 ETF 0.1 7 52 2.8 -9.4
GUNR FlexShares Morningstar Global Upstream Natural Resources Ind 0.1 46 13 7.5 -4.7
RWO SPDR Dow Jones Global Real Estate ETF 0.1 50 9 6.6 -5.6
XCEM Columbia EM Core ex-China ETF 0.1 16 43 4.9 -7.3
IXUS iShares Core MSCI Total International Stock ETF 0.1 7 52 6.5 -5.6
VSGX Vanguard ESG International Stock ETF 0.1 10 49 6.5 -5.6
VXUS Vanguard Total International Stock ETF 0.1 5 54 6.6 -5.6
EMCR Xtrackers Emerging Markets Carbon Reduction and Climate Impr 0.1 15 44 8.9 -3.3
VFVA Vanguard U.S. Value Factor ETF 0.1 13 46 9.0 -3.2
IWO iShares Russell 2000 Growth ETF 0.1 24 35 0.5 -11.6
SMMD iShares Russell 2500 ETF 0.1 15 44 5.6 -6.5
VYMI Vanguard International High Dividend Yield ETF 0.1 17 42 7.8 -4.4
JEMA JPMorgan ActiveBuilders Emerging Markets Equity ETF 0.1 33 26 6.7 -5.5
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 0.1 32 27 4.7 -7.5
GWX SPDR S&P International Small Cap ETF 0.1 40 19 5.7 -6.4
VEU Vanguard FTSE All-World ex-US Index Fund 0.1 4 55 6.7 -5.5
VTWG Vanguard Russell 2000 Growth ETF 0.1 10 49 0.7 -11.5
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 0.1 36 23 7.6 -4.6
SMLF iShares U.S. SmallCap Equity Factor ETF 0.0 15 44 5.0 -7.1
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 0.0 45 14 8.0 -4.2
BKEM BNY Mellon Emerging Markets Equity ETF 0.0 11 48 24.2 +12.1
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.0 9 50 4.8 -7.3
KOMP State Street SPDR S&P Kensho New Economies Composite ETF 0.0 20 39 0.8 -11.3
VT Vanguard Total World Stock ETF 0.0 6 53 5.0 -7.2
WRND IQ Global Equity R&D Leaders ETF 0.0 18 41 4.1 -8.1
NANR SPDR S&P North American Natural Resources ETF 0.0 35 24 5.9 -6.3
DEW WisdomTree Global High Dividend Fund 0.0 58 1 7.1 -5.1
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 0.0 66 -7 7.3 -4.8
DNL WisdomTree Global ex-US Quality Dividend Growth Fund 0.0 42 17 4.2 -8.0
SFGV Sequoia Global Value ETF 0.0 23 36 7.0 -5.1
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 0.0 41 18 5.9 -6.2
ONEQ Fidelity Nasdaq Composite Index ETF 0.0 21 38 3.0 -9.2
PRFZ Invesco FTSE RAFI US 1500 Small-Mid ETF 0.0 39 20 2.2 -9.9
ECON Columbia Emerging Markets Consumer ETF 0.0 49 10 6.5 -5.7
VFMO Vanguard U.S. Momentum Factor ETF 0.0 13 46 1.8 -10.4
GXUS Goldman Sachs MarketBeta Total International Equity ETF 0.0 18 41 6.3 -5.9
IWV iShares Russell 3000 ETF 0.0 20 39 4.0 -8.1
ESGV Vanguard ESG U.S. Stock ETF 0.0 9 50 4.2 -8.0
VTHR Vanguard Russell 3000 ETF 0.0 7 52 4.1 -8.0
VYM Vanguard High Dividend Yield Index ETF 0.0 6 53 6.2 -6.0

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 12.2 %
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.