iShares MSCI Brazil Small-Cap ETF
ALTAR
Score™		 10.1% info Recommen-
dation		 NEUTRAL
2025E    2026E
P/E
ratio		 9.9x P/Sales
ratio		 0.7x
P/BV
ratio		 1.1x Div.
yield		 4.1%


  • 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) $179
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) $1,590
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
STONECO LTD. CLASS A 5.6 %
LOJAS RENNER S.A. 5.6 %
SENDAS DISTRIBUIDORA SA 4.2 %
HAPVIDA PARTICIPACOES E INVESTIMEN 3.7 %
INTER AND CO INC CLASS A 3.2 %
PAGSEGURO DIGITAL LTD. CLASS A 2.9 %
SMARTFIT ESCOLA DE GINASTICA E DAN 2.8 %
MULTIPLAN EMPREENDIMENTOS 2.7 %
ALLOS SA 2.6 %
BRAVA ENERGIA 2.3 %
Total 35.6 %

TOP COUNTRY EXPOSURE
BRAZIL 78.7 %
CANADA 2.2 %
CAYMAN ISLANDS 1.4 %
BRITAIN 0.4 %







HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru July 31)
Year-to-date 1 year 5 years 10 years Since Incep.
27.8% -1.0% -1.0% 5.4% -2.4%

Market Correlations
versus... Beta R-squared
S&P500 0.84 18%
MSCI EAFE 0.71 15%
MSCI Emg. Mkts. 0.55 9%

Technical Indicators
Recent close $13.41
30d moving avg. $12.32
Annualized volatility 30.2%
Short interest (ETF) 6.7%
Relative strength (RSI) 55

Liquidity measures
Avg. volume (thou.) 324
Turnover 2.4%
Bid/Ask (% of price) 0.21%
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™: 10.1%


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 42.4 66 -7 11.3 +1.3
FEMS First Trust Emerging Markets Small Cap AlphaDEX Fund 11.1 80 -21 13.8 +3.7
FLBR Franklin FTSE Brazil ETF 6.1 19 40 14.5 +4.4
AVEE Avantis Emerging Markets Small Cap Equity ETF 5.7 42 17 9.7 -0.4
DVYE iShares Emerging Markets Dividend ETF 4.1 49 10 18.5 +8.4
SDIV Global X Superdividend ETF 4.1 58 1 41.3 +31.2
FLLA Franklin FTSE Latin America ETF 3.7 19 40 12.9 +2.8
DGS WisdomTree Emerging Markets SmallCap Dividend Fund 3.2 58 1 9.8 -0.3
PIE Invesco Dorsey Wright Emerging Markets Momentum ETF 3.2 90 -31 7.0 -3.1
EYLD Cambria Emerging Shareholder Yield ETF 3.1 66 -7 12.3 +2.2
EEMS iShares MSCI Emerging Markets Small Cap ETF 3.0 70 -11 7.8 -2.3
IPAY ETFMG Prime Mobile Payments ETFMG Prime Mobile Payments Fund 2.6 75 -16 4.4 -5.7
BRAZ Global X Brazil Active ETF 2.6 75 -16 12.6 +2.5
FMQQ FMQQ The Next Frontier Internet & Ecommerce ETF 2.5 86 -27 0.4 -9.7
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 2.3 59 0 9.0 -1.1
EWX SPDR S&P Emerging Markets Small Cap ETF 1.9 65 -6 7.8 -2.3
VIDI Vident International Equity Strategy ETF 1.9 61 -2 10.9 +0.8
FDIG Fidelity Crypto Industry and Digital Payments ETF 1.6 39 20 -1.4 -11.5
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 1.6 44 15 10.7 +0.6
DEM WisdomTree Emerging Markets High Dividend Fund 1.5 63 -4 13.3 +3.2
CGW Invesco S&P Global Water Index ETF 1.4 57 2 4.6 -5.5
IWTR iShares MSCI Water Management Multisector ETF 1.4 47 12 5.8 -4.3
AVXC Avantis Emerging Markets Ex-China Equity ETF 1.4 33 26 8.8 -1.3
EFRA iShares Environmental Infrastructure and Industrials ETF 1.3 47 12 5.1 -5.0
FINX Global X FinTech ETF 1.2 68 -9 2.2 -7.9
DEXC Dimensional Emerging Markets ex China Core EquityETF 1.2 53 6 7.9 -2.2
RNRG Global X Renewable Energy Producers ETF 1.0 66 -7 5.5 -4.6
AVES Avantis Emerging Markets Value ETF 1.0 36 23 11.1 +1.0
FAN First Trust Global Wind Energy ETF 1.0 60 -1 4.5 -5.6
AVSE Avantis Responsible Emerging Markets Equity ETF 1.0 33 26 8.6 -1.5
DTEC ALPS Disruptive Technologies ETF 0.9 50 9 3.9 -6.2
EMC Global X Emerging Markets Great Consumer ETF 0.9 75 -16 11.0 +0.9
XCNY SPDR S&P Emerging Markets ex-China ETF 0.8 15 44 7.8 -2.3
DFSE Dimensional Emerging Markets Sustainability Core 1 ETF 0.8 41 18 8.7 -1.4
AVEM Avantis Emerging Markets Equity ETF 0.8 33 26 8.8 -1.3
WOOD iShares Global Timber & Forestry ETF 0.7 42 17 12.0 +1.9
PSP Invesco Global Listed Private Equity ETF 0.7 106 -47 5.7 -4.4
GRID First Trust Nasdaq Clean Edge Smart GRID Infrastructure 0.7 58 1 4.7 -5.4
TMAT Main Thematic Innovation ETF 0.7 164 -105 -1.5 -11.5
SMLV SPDR SSGA US Small Cap Low Volatility Index ETF 0.6 12 47 7.2 -2.9
DFEM Dimensional Emerging Markets Core Equity 2 ETF 0.6 38 21 9.3 -0.8
LITP Sprott Lithium Miners ETF 0.6 65 -6 2.0 -8.1
SETM Sprott Energy Transition Materials ETF 0.6 65 -6 2.8 -7.3
REMX VanEck Rare Earth/Strategic Metals ETF 0.6 54 5 3.8 -6.3
PBW Invesco WilderHill Clean Energy ETF 0.6 66 -7 -3.7 -13.8
ILIT iShares Lithium Miners and Producers ETF 0.6 47 12 6.8 -3.3
EMQQ EMQQ The Emerging Markets Internet & Ecommerce ETF 0.6 86 -27 13.6 +3.5
PXH Invesco FTSE RAFI Emerging Markets ETF 0.5 49 10 15.9 +5.9
VSS Vanguard FTSE All-World ex-US Small-Cap ETF 0.5 8 51 6.1 -4.0
IEMG iShares Core MSCI Emerging Markets ETF 0.5 9 50 10.6 +0.5
PSC Principal U.S. Small-Cap ETF 0.5 38 21 6.8 -3.3
XC WisdomTree Emerging Markets Ex-China Fund 0.5 32 27 6.3 -3.8
AQWA Global X Clean Water ETF 0.5 50 9 4.8 -5.3
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 0.5 50 9 11.1 +1.0
IBUY Amplify Online Retail ETF 0.5 65 -6 0.9 -9.2
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 0.4 39 20 16.5 +6.4
VWO Vanguard FTSE Emerging Markets ETF 0.4 7 52 10.3 +0.2
IWO iShares Russell 2000 Growth ETF 0.4 24 35 1.3 -8.8
RWX SPDR Dow Jones International Real Estate ETF 0.4 59 0 6.9 -3.2
RCGE RockCreek Global Equality ETF 0.4 95 -36 6.7 -3.4
VTWG Vanguard Russell 2000 Growth ETF 0.4 10 49 1.4 -8.7
DFAE Dimensional Emerging Core Equity Market ETF 0.4 35 24 9.4 -0.7
SPEM SPDR Portfolio Emerging Markets ETF 0.3 7 52 10.7 +0.6
QCLN First Trust Nasdaq Clean Edge Green Energy Index Fund 0.3 58 1 -2.3 -12.3
DFEV Dimensional Emerging Markets Value ETF 0.3 43 16 13.4 +3.3
PICK iShares MSCI Global Metals & Mining Producers ETF 0.3 39 20 12.7 +2.6
ECOW Pacer Emerging Markets Cash Cows 100 ETF 0.3 70 -11 13.1 +3.0
BLLD JPMorgan Sustainable Infrastructure ETF 0.3 49 10 6.1 -4.0
ERTH Invesco MSCI Sustainable Future ETF 0.3 62 -3 3.7 -6.4
AIQ Global X Artificial Intelligence & Technology ETF 0.3 68 -9 3.8 -6.3
LIT Global X Lithium & Battery Tech ETF 0.3 75 -16 4.8 -5.3
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 0.3 32 27 9.3 -0.8
AFSM First Trust Active Factor Small Cap ETF 0.3 75 -16 7.6 -2.5
EMCR Xtrackers Emerging Markets Carbon Reduction and Climate Impr 0.3 15 44 8.1 -2.0
VEGI iShares MSCI Agriculture Producers ETF 0.3 39 20 8.6 -1.5
CUT Invesco MSCI Global Timber ETF 0.3 61 -2 10.3 +0.2
HAUZ DBX ETF Trust - Xtrackers International Real Estate ETF 0.3 10 49 8.0 -2.1
FTAG First Trust Indxx Global Agriculture ETF 0.3 70 -11 8.2 -1.9
ICLN iShares Global Clean Energy ETF 0.3 41 18 5.2 -4.9
IPKW Invesco International BuyBack Achievers ETF 0.3 55 4 12.5 +2.4
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 0.2 95 -36 11.8 +1.7
JEMA JPMorgan ActiveBuilders Emerging Markets Equity ETF 0.2 33 26 10.2 +0.1
RSSL Global X Russell 2000 ETF 0.2 8 51 4.4 -5.7
IWM iShares Russell 2000 ETF 0.2 19 40 4.3 -5.8
VTWO Vanguard Russell 2000 ETF 0.2 7 52 4.3 -5.8
EBIZ Global X E-Commerce ETF 0.2 50 9 3.8 -6.3
GINN Goldman Sachs Innovate Equity ETF 0.2 52 7 3.7 -6.4
SCHE Schwab Emerging Markets Equity ETF 0.2 11 48 11.1 +1.0
DFAX Dimensional World ex U.S. Core Equity 2 ETF 0.2 30 29 7.9 -2.2
GSSC Goldman Sachs Activebeta U.S. Small Cap Equity ETF 0.2 20 39 5.5 -4.6
OMFS Invesco Russell 2000 Dynamic Multifactor ETF 0.2 39 20 5.8 -4.3
EDIV SPDR S&P Emerging Markets Dividend ETF 0.2 49 10 11.9 +1.8
IPAV Global X Infrastructure Development ex-U.S. ETF 0.2 55 4 7.7 -2.4
NFRA FlexShares STOXX Global Broad Infrastructure Index Fund 0.2 47 12 5.8 -4.3
DEW WisdomTree Global High Dividend Fund 0.2 58 1 8.4 -1.7
VSGX Vanguard ESG International Stock ETF 0.1 10 49 7.7 -2.4
IXUS iShares Core MSCI Total International Stock ETF 0.1 7 52 7.9 -2.2
ROAM Hartford Multifactor Emerging Markets ETF 0.1 44 15 12.2 +2.2
BKEM BNY Mellon Emerging Markets Equity ETF 0.1 11 48 10.2 +0.1
VFVA Vanguard U.S. Value Factor ETF 0.1 13 46 10.8 +0.7
SHPP Pacer Industrials and Logistics ETF 0.1 60 -1 8.6 -1.5
RWO SPDR Dow Jones Global Real Estate ETF 0.1 50 9 7.0 -3.1
XCEM Columbia EM Core ex-China ETF 0.1 16 43 8.4 -1.7
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 0.1 36 23 10.0 -0.1
VXUS Vanguard Total International Stock ETF 0.1 5 54 7.9 -2.2
VYMI Vanguard International High Dividend Yield ETF 0.1 17 42 9.5 -0.6
GUNR FlexShares Morningstar Global Upstream Natural Resources Ind 0.1 46 13 9.9 -0.2
CCSO Carbon Collective Climate Solutions US Equity ETF 0.1 35 24 1.0 -9.1
SMLF iShares U.S. SmallCap Equity Factor ETF 0.1 15 44 5.9 -4.2
KOMP SPDR S&P Kensho New Economies Composite ETF 0.1 20 39 2.5 -7.6
VNQI Vanguard Global ex-U.S. Real Estate ETF 0.1 12 47 8.1 -2.0
PRFZ Invesco FTSE RAFI US 1500 Small-Mid ETF 0.1 39 20 5.3 -4.8
BBEM JPMorgan BetaBuilders Emerging Markets Equity ETF 0.1 15 44 10.4 +0.3
VEU Vanguard FTSE All-World ex-US Index Fund 0.1 4 55 8.1 -2.0
FILL iShares MSCI Global Energy Producers ETF 0.1 39 20 11.6 +1.5
FTRI First Trust Indxx Global Natural Resources Income ETF 0.1 70 -11 7.6 -2.5
GXUS Goldman Sachs MarketBeta Total International Equity ETF 0.1 18 41 7.9 -2.2
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.0 9 50 5.7 -4.4
IWN iShares Russell 2000 Value ETF 0.0 24 35 7.3 -2.8
VTWV Vanguard Russell 2000 Value ETF 0.0 10 49 7.3 -2.8
VT Vanguard Total World Stock ETF 0.0 6 53 5.9 -4.2
JHEM John Hancock Multifactor Emerging Markets ETF 0.0 49 10 10.3 +0.2
JSTC Adasina Social Justice All Cap Global ETF 0.0 89 -30 4.8 -5.3
DFIS Dimensional International Small Cap ETF 0.0 39 20 7.3 -2.8
ESGV Vanguard ESG U.S. Stock ETF 0.0 9 50 4.7 -5.4
ONEQ Fidelity Nasdaq Composite Index ETF 0.0 21 38 3.7 -6.4
IWV iShares Russell 3000 ETF 0.0 20 39 4.7 -5.4
VTHR Vanguard Russell 3000 ETF 0.0 7 52 4.8 -5.3
PRF Invesco FTSE RAFI US 1000 ETF 0.0 39 20 6.8 -3.3
DFSI Dimensional International Sustainability Core 1 ETF 0.0 24 35 6.3 -3.8
DEHP Dimensional Emerging Markets High Profitability ETF 0.0 41 18 6.8 -3.3
DFIC Dimensional International Core Equity 2 ETF 0.0 23 36 7.4 -2.7
DFAI Dimensional International Core Equity Market ETF 0.0 18 41 7.1 -3.0

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:

NEUTRAL
Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 11.5 %
Divided by: Fwd. P/BV 1.1 x
Less: Expense ratio 59 bp
Equals: ALTAR Score 10.1 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.58 CATEGORY
AVERAGE		 1.51
 
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.