iShares MSCI Brazil Small-Cap ETF
ALTAR
Score™		 11.3% info Recommen-
dation		 SPECULATIVE
2025E    2026E
P/E
ratio		 9.7x P/Sales
ratio		 0.6x
P/BV
ratio		 0.9x Div.
yield		 4.4%


  • 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) $171
Currency USD
Expense ratio 59 bp
Distributions Semi-Annually

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 72
Wgt avg mkt cap (mns) $1,602
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
LOJAS RENNER S.A. 4.5 %
INTER AND CO INC CLASS A 3.6 %
ALLOS SA 3.3 %
SENDAS DISTRIBUIDORA SA 3.3 %
MULTIPLAN EMPREENDIMENTOS 3.0 %
AURA MINERALS INC 3.0 %
PAGSEGURO DIGITAL LTD. CLASS A 2.9 %
SMARTFIT ESCOLA DE GINASTICA E DAN 2.9 %
CIA SANEAMENTO MINAS GERAIS 2.7 %
METALURGICA GERDAU SA-PREF 2.5 %
Total 31.6 %

TOP COUNTRY EXPOSURE
BRAZIL 72.5 %
CAYMAN ISLANDS 1.9 %
CANADA 1.6 %
BRITAIN 0.4 %







HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru December 31)
Year-to-date 1 year 5 years 10 years Since Incep.
45.2% 45.2% -1.2% 10.3% -1.4%

Market Correlations
versus... Beta R-squared
S&P500 0.73 23%
MSCI EAFE 1.04 34%
MSCI Emg. Mkts. 0.91 30%

Technical Indicators
Recent close $13.33
30d moving avg. $13.15
Annualized volatility 30.0%
Short interest (ETF) 3.1%
Relative strength (RSI) 49

Liquidity measures
Avg. volume (thou.) 187
Turnover 1.5%
Bid/Ask (% of price) 0.12%
ADV underlying (mns) $503

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 124 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™: 11.3%


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
(%)
BRF VanEck Brazil Small-Cap ETF 44.2 66 -7 11.1 -0.2
FEMS First Trust Emerging Markets Small Cap AlphaDEX Fund 8.1 80 -21 12.8 +1.5
JIVE JPMorgan International Value ETF 5.9 55 4 9.8 -1.5
DVYE iShares Emerging Markets Dividend ETF 4.8 49 10 17.1 +5.8
FLBR Franklin FTSE Brazil ETF 4.2 19 40 13.8 +2.5
OTGL OTG Latin America ETF 4.0 269 -210 7.3 -4.0
DGS WisdomTree Emerging Markets SmallCap Dividend Fund 3.9 58 1 8.7 -2.7
SDIV Global X Superdividend ETF 3.8 58 1 15.8 +4.5
AVEE Avantis Emerging Markets Small Cap Equity ETF 3.8 42 17 8.7 -2.7
BRAZ Global X Brazil Active ETF 2.9 75 -16 10.6 -0.7
EYLD Cambria Emerging Shareholder Yield ETF 2.8 66 -7 10.8 -0.5
EWX SPDR S&P Emerging Markets Small Cap ETF 2.4 65 -6 7.2 -4.2
FLLA Franklin FTSE Latin America ETF 2.4 19 40 11.8 +0.5
EEMS iShares MSCI Emerging Markets Small Cap ETF 2.2 70 -11 6.9 -4.5
PIE Invesco Dorsey Wright Emerging Markets Momentum ETF 2.1 90 -31 4.6 -6.8
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 1.9 59 0 7.6 -3.7
CGW Invesco S&P Global Water Index ETF 1.7 57 2 4.3 -7.0
PBW Invesco WilderHill Clean Energy ETF 1.6 66 -7 -3.0 -14.3
LITP Sprott Lithium Miners ETF 1.6 65 -6 1.1 -10.2
REMX VanEck Rare Earth/Strategic Metals ETF 1.6 54 5 2.7 -8.6
ION ProShares S&P Global Core Battery Metals ETF 1.6 58 1 5.5 -5.9
ILIT iShares Lithium Miners and Producers ETF 1.6 47 12 3.6 -7.7
VIDI Vident International Equity Strategy ETF 1.5 61 -2 9.4 -1.9
EFRA iShares Environmental Infrastructure and Industrials ETF 1.4 47 12 5.0 -6.4
ECOW Pacer Emerging Markets Cash Cows 100 ETF 1.4 70 -11 11.9 +0.5
DEM WisdomTree Emerging Markets High Dividend Fund 1.4 63 -4 12.0 +0.7
XC WisdomTree Emerging Markets Ex-China Fund 1.2 32 27 5.5 -5.8
IPAY ETFMG Prime Mobile Payments ETFMG Prime Mobile Payments Fund 1.1 75 -16 4.7 -6.6
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 1.1 44 15 9.5 -1.8
DEXC Dimensional Emerging Markets ex China Core EquityETF 1.1 53 6 6.1 -5.2
EMC Global X Emerging Markets Great Consumer ETF 1.1 75 -16 7.0 -4.3
FDLS Inspire Fidelis Multi Factor ETF 1.0 76 -17 4.1 -7.2
DTEC ALPS Disruptive Technologies ETF 1.0 50 9 3.3 -8.0
CGV Conductor Global Equity Value ETF 1.0 130 -71 7.0 -4.4
PSC Principal U.S. Small-Cap ETF 0.9 38 21 6.0 -5.3
CARZ First Trust NASDAQ Global Auto Index Fund 0.8 70 -11 3.4 -7.9
AVXC Avantis Emerging Markets Ex-China Equity ETF 0.8 33 26 6.9 -4.4
AQWA Global X Clean Water ETF 0.8 50 9 4.7 -6.6
PSP Invesco Global Listed Private Equity ETF 0.8 106 -47 5.5 -5.8
FMQQ FMQQ The Next Frontier Internet & Ecommerce ETF 0.8 86 -27 0.3 -11.0
WOOD iShares Global Timber & Forestry ETF 0.8 42 17 12.2 +0.8
SETM Sprott Energy Transition Materials ETF 0.8 65 -6 1.5 -9.8
AVSE Avantis Responsible Emerging Markets Equity ETF 0.7 33 26 7.0 -4.3
DFSE Dimensional Emerging Markets Sustainability Core 1 ETF 0.7 41 18 7.1 -4.2
SMLV State Street SPDR US Small Cap Low Volatility Index ETF 0.7 12 47 6.9 -4.4
XCNY SPDR S&P Emerging Markets ex-China ETF 0.7 15 44 6.3 -5.0
QCLN First Trust Nasdaq Clean Edge Green Energy Index Fund 0.6 58 1 -1.9 -13.2
DFEM Dimensional Emerging Markets Core Equity 2 ETF 0.6 38 21 7.6 -3.7
GRID First Trust Nasdaq Clean Edge Smart GRID Infrastructure 0.6 58 1 3.8 -7.5
UEVM VictoryShares Emerging Markets Value Momentum ETF 0.6 45 14 9.5 -1.8
VSS Vanguard FTSE All-World ex-US Small-Cap ETF 0.6 8 51 6.5 -4.8
AVES Avantis Emerging Markets Value ETF 0.5 36 23 9.6 -1.7
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 0.5 39 20 14.6 +3.3
AVEM Avantis Emerging Markets Equity ETF 0.5 33 26 7.3 -4.0
PXH Invesco FTSE RAFI Emerging Markets ETF 0.5 49 10 13.7 +2.4
FINX Global X FinTech ETF 0.5 68 -9 2.5 -8.8
RWX SPDR Dow Jones International Real Estate ETF 0.4 59 0 6.5 -4.8
LQPE PEO AlphaQuest Thematic PE ETF 0.4 125 -66 6.0 -5.3
TMAT Main Thematic Innovation ETF 0.4 164 -105 -1.5 -12.8
IEMG iShares Core MSCI Emerging Markets ETF 0.4 9 50 8.6 -2.7
DFAE Dimensional Emerging Core Equity Market ETF 0.4 35 24 7.5 -3.8
ROAM Hartford Multifactor Emerging Markets ETF 0.4 44 15 10.4 -0.9
VWO Vanguard FTSE Emerging Markets ETF 0.4 7 52 9.1 -2.2
PICK iShares MSCI Global Metals & Mining Producers ETF 0.4 39 20 9.0 -2.3
HAUZ DBX ETF Trust - Xtrackers International Real Estate ETF 0.3 10 49 6.4 -4.9
FTAG First Trust Indxx Global Agriculture ETF 0.3 70 -11 7.8 -3.5
LIT Global X Lithium & Battery Tech ETF 0.3 75 -16 5.6 -5.8
DFEV Dimensional Emerging Markets Value ETF 0.3 43 16 10.6 -0.7
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 0.3 50 9 9.4 -1.9
VEGI iShares MSCI Agriculture Producers ETF 0.3 39 20 8.5 -2.8
SPEM SPDR Portfolio Emerging Markets ETF 0.3 7 52 9.3 -2.0
CUT Invesco MSCI Global Timber ETF 0.3 61 -2 10.1 -1.3
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 0.3 95 -36 10.3 -1.0
AFSM First Trust Active Factor Small Cap ETF 0.2 75 -16 6.6 -4.7
DFAX Dimensional World ex U.S. Core Equity 2 ETF 0.2 30 29 6.7 -4.6
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 0.2 32 27 7.0 -4.3
EMQQ EMQQ The Emerging Markets Internet & Ecommerce ETF 0.2 86 -27 11.6 +0.3
EBIZ Global X E-Commerce ETF 0.2 50 9 3.3 -8.0
CCSO Carbon Collective Climate Solutions US Equity ETF 0.2 35 24 1.1 -10.2
GSSC Goldman Sachs Activebeta U.S. Small Cap Equity ETF 0.2 20 39 4.8 -6.5
EDIV SPDR S&P Emerging Markets Dividend ETF 0.2 49 10 8.8 -2.6
IPAV Global X Infrastructure Development ex-U.S. ETF 0.2 55 4 5.9 -5.4
ERTH Invesco MSCI Sustainable Future ETF 0.2 62 -3 3.1 -8.2
FLQS Franklin U.S. Small Cap Multifactor Index ETF 0.2 35 24 6.6 -4.7
IWO iShares Russell 2000 Growth ETF 0.2 24 35 0.7 -10.7
SCHE Schwab Emerging Markets Equity ETF 0.2 11 48 9.5 -1.8
NFRA FlexShares STOXX Global Broad Infrastructure Index Fund 0.2 47 12 5.8 -5.5
JEMA JPMorgan ActiveBuilders Emerging Markets Equity ETF 0.1 33 26 8.2 -3.1
RWO SPDR Dow Jones Global Real Estate ETF 0.1 50 9 6.7 -4.6
VSGX Vanguard ESG International Stock ETF 0.1 10 49 6.7 -4.6
VTWG Vanguard Russell 2000 Growth ETF 0.1 10 49 0.8 -10.5
RNEM First Trust Emerging Markets Equity Select ETF 0.1 75 -16 7.8 -3.6
IXUS iShares Core MSCI Total International Stock ETF 0.1 7 52 6.8 -4.5
RSSL Global X Russell 2000 ETF 0.1 8 51 3.2 -8.1
IWM iShares Russell 2000 ETF 0.1 19 40 3.2 -8.1
GINN Goldman Sachs Innovate Equity ETF 0.1 52 7 3.2 -8.1
KOMP State Street SPDR S&P Kensho New Economies Composite ETF 0.1 20 39 2.7 -8.7
VXUS Vanguard Total International Stock ETF 0.1 5 54 6.9 -4.4
VTWO Vanguard Russell 2000 ETF 0.1 7 52 3.3 -8.0
GUNR FlexShares Morningstar Global Upstream Natural Resources Ind 0.1 46 13 8.6 -2.7
VNQI Vanguard Global ex-U.S. Real Estate ETF 0.1 12 47 8.0 -3.3
EMCR Xtrackers Emerging Markets Carbon Reduction and Climate Impr 0.1 15 44 6.6 -4.7
VYMI Vanguard International High Dividend Yield ETF 0.1 17 42 8.3 -3.0
VFVA Vanguard U.S. Value Factor ETF 0.1 13 46 9.5 -1.8
FTRI First Trust Indxx Global Natural Resources Income ETF 0.1 70 -11 6.8 -4.5
OMFS Invesco Russell 2000 Dynamic Multifactor ETF 0.1 39 20 4.4 -6.9
GWX SPDR S&P International Small Cap ETF 0.1 40 19 6.0 -5.3
VEU Vanguard FTSE All-World ex-US Index Fund 0.1 4 55 6.9 -4.4
XCEM Columbia EM Core ex-China ETF 0.1 16 43 6.6 -4.7
BKEM BNY Mellon Emerging Markets Equity ETF 0.1 11 48 8.0 -3.3
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 0.1 36 23 8.0 -3.3
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.0 9 50 4.9 -6.4
IWN iShares Russell 2000 Value ETF 0.0 24 35 5.9 -5.4
VTWV Vanguard Russell 2000 Value ETF 0.0 10 49 6.0 -5.4
JSTC Adasina Social Justice All Cap Global ETF 0.0 89 -30 4.2 -7.1
DEW WisdomTree Global High Dividend Fund 0.0 58 1 7.7 -3.6
PRFZ Invesco FTSE RAFI US 1500 Small-Mid ETF 0.0 39 20 2.8 -8.6
VT Vanguard Total World Stock ETF 0.0 6 53 5.1 -6.2
GXUS Goldman Sachs MarketBeta Total International Equity ETF 0.0 18 41 6.6 -4.8
ONEQ Fidelity Nasdaq Composite Index ETF 0.0 21 38 3.1 -8.3
BBEM JPMorgan BetaBuilders Emerging Markets Equity ETF 0.0 15 44 8.5 -2.8
VTHR Vanguard Russell 3000 ETF 0.0 7 52 4.2 -7.1
IWV iShares Russell 3000 ETF 0.0 20 39 4.1 -7.3
ESGV Vanguard ESG U.S. Stock ETF 0.0 9 50 4.1 -7.2

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 10.9 %
Divided by: Fwd. P/BV 0.9 x
Less: Expense ratio 59 bp
Equals: ALTAR Score 11.3 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.61 CATEGORY
AVERAGE		 1.54
 
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.