iShares MSCI Brazil Small-Cap ETF
ALTAR
Score™		 10.7% info Recommen-
dation		 OVERWEIGHT
2025E    2026E
P/E
ratio		 10.2x P/Sales
ratio		 0.7x
P/BV
ratio		 1.0x 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) $193
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 70
Wgt avg mkt cap (mns) $2,843
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. 5.0 %
SENDAS DISTRIBUIDORA SA 4.0 %
INTER AND CO INC CLASS A 3.6 %
MULTIPLAN EMPREENDIMENTOS 3.2 %
SMARTFIT ESCOLA DE GINASTICA E DAN 3.1 %
ALLOS SA 3.1 %
CYRELA BRAZIL REALTY 3.0 %
PAGSEGURO DIGITAL LTD. CLASS A 3.0 %
COSAN SA INDUSTRIA COMERCIO 2.5 %
CIA SANEAMENTO MINAS GERAIS 2.5 %
Total 33.0 %

TOP COUNTRY EXPOSURE
BRAZIL 74.0 %
CAYMAN ISLANDS 1.7 %
CANADA 1.2 %
BRITAIN 0.4 %







HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru November 30)
Year-to-date 1 year 5 years 10 years Since Incep.
53.1% 32.6% 1.2% 9.9% -1.2%

Market Correlations
versus... Beta R-squared
S&P500 0.72 21%
MSCI EAFE 0.96 27%
MSCI Emg. Mkts. 0.90 27%

Technical Indicators
Recent close $14.16
30d moving avg. $13.69
Annualized volatility 30.0%
Short interest (ETF) 7.3%
Relative strength (RSI) 57

Liquidity measures
Avg. volume (thou.) 206
Turnover 1.5%
Bid/Ask (% of price) 0.09%
ADV underlying (mns) $503

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 120 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™: 10.7%


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 44.6 66 -7 10.9 +0.2
FEMS First Trust Emerging Markets Small Cap AlphaDEX Fund 8.6 80 -21 13.8 +3.1
FLBR Franklin FTSE Brazil ETF 7.5 19 40 13.4 +2.7
AVEE Avantis Emerging Markets Small Cap Equity ETF 5.4 42 17 9.6 -1.2
FLLA Franklin FTSE Latin America ETF 5.1 19 40 12.1 +1.4
OTGL OTG Latin America ETF 4.9 269 -210 8.1 -2.6
DVYE iShares Emerging Markets Dividend ETF 4.8 49 10 17.8 +7.0
EYLD Cambria Emerging Shareholder Yield ETF 4.2 66 -7 11.6 +0.9
SDIV Global X Superdividend ETF 3.6 58 1 41.6 +30.9
DGS WisdomTree Emerging Markets SmallCap Dividend Fund 3.6 58 1 9.4 -1.3
BRAZ Global X Brazil Active ETF 3.4 75 -16 11.3 +0.6
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 2.8 59 0 8.5 -2.2
EWX SPDR S&P Emerging Markets Small Cap ETF 2.5 65 -6 7.8 -2.9
EEMS iShares MSCI Emerging Markets Small Cap ETF 2.4 70 -11 7.5 -3.3
PIE Invesco Dorsey Wright Emerging Markets Momentum ETF 2.1 90 -31 4.8 -5.9
DEM WisdomTree Emerging Markets High Dividend Fund 1.8 63 -4 12.7 +2.0
VIDI Vident International Equity Strategy ETF 1.7 61 -2 10.3 -0.4
CGW Invesco S&P Global Water Index ETF 1.7 57 2 4.7 -6.1
XC WisdomTree Emerging Markets Ex-China Fund 1.5 32 27 5.4 -5.4
EFRA iShares Environmental Infrastructure and Industrials ETF 1.5 47 12 5.3 -5.4
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 1.4 44 15 10.4 -0.3
FMQQ FMQQ The Next Frontier Internet & Ecommerce ETF 1.2 86 -27 0.5 -10.3
DEXC Dimensional Emerging Markets ex China Core EquityETF 1.2 53 6 7.2 -3.6
AVXC Avantis Emerging Markets Ex-China Equity ETF 1.2 33 26 8.0 -2.7
IPAY ETFMG Prime Mobile Payments ETFMG Prime Mobile Payments Fund 1.2 75 -16 6.0 -4.7
ION ProShares S&P Global Core Battery Metals ETF 1.2 58 1 7.0 -3.7
PBW Invesco WilderHill Clean Energy ETF 1.2 66 -7 -3.2 -13.9
LITP Sprott Lithium Miners ETF 1.2 65 -6 1.6 -9.1
REMX VanEck Rare Earth/Strategic Metals ETF 1.2 54 5 3.5 -7.2
ILIT iShares Lithium Miners and Producers ETF 1.2 47 12 4.6 -6.2
DTEC ALPS Disruptive Technologies ETF 1.1 50 9 3.7 -7.0
EMC Global X Emerging Markets Great Consumer ETF 1.1 75 -16 7.4 -3.3
SETM Sprott Energy Transition Materials ETF 1.1 65 -6 1.9 -8.9
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 1.0 32 27 8.4 -2.4
AVES Avantis Emerging Markets Value ETF 0.9 36 23 10.7 -0.1
AVEM Avantis Emerging Markets Equity ETF 0.9 33 26 8.1 -2.6
DFSE Dimensional Emerging Markets Sustainability Core 1 ETF 0.8 41 18 8.1 -2.6
PSP Invesco Global Listed Private Equity ETF 0.8 106 -47 6.1 -4.7
AVSE Avantis Responsible Emerging Markets Equity ETF 0.8 33 26 7.8 -2.9
XCNY SPDR S&P Emerging Markets ex-China ETF 0.8 15 44 7.2 -3.5
CARZ First Trust NASDAQ Global Auto Index Fund 0.8 70 -11 4.2 -6.6
EMCR Xtrackers Emerging Markets Carbon Reduction and Climate Impr 0.8 15 44 7.4 -3.3
AQWA Global X Clean Water ETF 0.7 50 9 5.1 -5.6
SMLV State Street SPDR US Small Cap Low Volatility Index ETF 0.7 12 47 7.4 -3.3
WOOD iShares Global Timber & Forestry ETF 0.7 42 17 13.1 +2.4
DFEM Dimensional Emerging Markets Core Equity 2 ETF 0.7 38 21 8.5 -2.2
VSS Vanguard FTSE All-World ex-US Small-Cap ETF 0.7 8 51 7.1 -3.6
GRID First Trust Nasdaq Clean Edge Smart GRID Infrastructure 0.6 58 1 4.4 -6.4
PSC Principal U.S. Small-Cap ETF 0.6 38 21 6.8 -3.9
BBEM JPMorgan BetaBuilders Emerging Markets Equity ETF 0.6 15 44 9.5 -1.2
QCLN First Trust Nasdaq Clean Edge Green Energy Index Fund 0.5 58 1 -1.9 -12.6
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 0.5 36 23 9.0 -1.8
RWX SPDR Dow Jones International Real Estate ETF 0.5 59 0 6.8 -3.9
BKEM BNY Mellon Emerging Markets Equity ETF 0.5 11 48 9.2 -1.5
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 0.5 39 20 15.3 +4.6
FINX Global X FinTech ETF 0.5 68 -9 3.1 -7.7
PXH Invesco FTSE RAFI Emerging Markets ETF 0.5 49 10 14.7 +4.0
LQPE PEO AlphaQuest Thematic PE ETF 0.4 125 -66 6.7 -4.0
JHEM John Hancock Multifactor Emerging Markets ETF 0.4 49 10 9.4 -1.4
IEMG iShares Core MSCI Emerging Markets ETF 0.4 9 50 9.7 -1.0
VWO Vanguard FTSE Emerging Markets ETF 0.4 7 52 10.1 -0.7
DFAE Dimensional Emerging Core Equity Market ETF 0.4 35 24 8.5 -2.2
HAUZ DBX ETF Trust - Xtrackers International Real Estate ETF 0.4 10 49 6.6 -4.1
XCEM Columbia EM Core ex-China ETF 0.4 16 43 7.6 -3.1
PICK iShares MSCI Global Metals & Mining Producers ETF 0.4 39 20 10.7 -0.1
DFEV Dimensional Emerging Markets Value ETF 0.4 43 16 11.8 +1.1
JEMA JPMorgan ActiveBuilders Emerging Markets Equity ETF 0.3 33 26 9.2 -1.5
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 0.3 50 9 10.2 -0.5
BLLD JPMorgan Sustainable Infrastructure ETF 0.3 49 10 6.0 -4.8
AFSM First Trust Active Factor Small Cap ETF 0.3 75 -16 7.4 -3.3
FTAG First Trust Indxx Global Agriculture ETF 0.3 70 -11 8.3 -2.4
SPEM SPDR Portfolio Emerging Markets ETF 0.3 7 52 10.3 -0.4
JIVE JPMorgan International Value ETF 0.3 55 4 10.7 -0.0
ECOW Pacer Emerging Markets Cash Cows 100 ETF 0.3 70 -11 11.7 +1.0
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 0.3 95 -36 10.9 +0.1
EMQQ EMQQ The Emerging Markets Internet & Ecommerce ETF 0.3 86 -27 14.2 +3.5
VEGI iShares MSCI Agriculture Producers ETF 0.3 39 20 9.1 -1.6
CUT Invesco MSCI Global Timber ETF 0.3 61 -2 10.9 +0.1
LIT Global X Lithium & Battery Tech ETF 0.3 75 -16 4.4 -6.3
DFAX Dimensional World ex U.S. Core Equity 2 ETF 0.2 30 29 7.4 -3.3
ROAM Hartford Multifactor Emerging Markets ETF 0.2 44 15 11.0 +0.3
EBIZ Global X E-Commerce ETF 0.2 50 9 4.1 -6.6
EDIV SPDR S&P Emerging Markets Dividend ETF 0.2 49 10 9.3 -1.4
IPAV Global X Infrastructure Development ex-U.S. ETF 0.2 55 4 6.7 -4.0
ERTH Invesco MSCI Sustainable Future ETF 0.2 62 -3 3.4 -7.3
SCHE Schwab Emerging Markets Equity ETF 0.2 11 48 10.4 -0.3
DEW WisdomTree Global High Dividend Fund 0.2 58 1 8.2 -2.6
CCSO Carbon Collective Climate Solutions US Equity ETF 0.2 35 24 1.2 -9.5
GXUS Goldman Sachs MarketBeta Total International Equity ETF 0.2 18 41 7.2 -3.5
VFVA Vanguard U.S. Value Factor ETF 0.2 13 46 10.6 -0.1
IWO iShares Russell 2000 Growth ETF 0.2 24 35 0.8 -9.9
VTWG Vanguard Russell 2000 Growth ETF 0.2 10 49 1.0 -9.8
GINN Goldman Sachs Innovate Equity ETF 0.2 52 7 3.6 -7.1
GSSC Goldman Sachs Activebeta U.S. Small Cap Equity ETF 0.2 20 39 5.5 -5.2
VSGX Vanguard ESG International Stock ETF 0.1 10 49 7.4 -3.3
RWO SPDR Dow Jones Global Real Estate ETF 0.1 50 9 6.9 -3.8
IXUS iShares Core MSCI Total International Stock ETF 0.1 7 52 7.5 -3.3
NFRA FlexShares STOXX Global Broad Infrastructure Index Fund 0.1 47 12 5.6 -5.1
GUNR FlexShares Morningstar Global Upstream Natural Resources Ind 0.1 46 13 9.4 -1.3
VXUS Vanguard Total International Stock ETF 0.1 5 54 7.6 -3.2
RNEM First Trust Emerging Markets Equity Select ETF 0.1 75 -16 8.4 -2.4
IWM iShares Russell 2000 ETF 0.1 19 40 4.1 -6.6
VTWO Vanguard Russell 2000 ETF 0.1 7 52 4.2 -6.5
RSSL Global X Russell 2000 ETF 0.1 8 51 4.1 -6.7
VNQI Vanguard Global ex-U.S. Real Estate ETF 0.1 12 47 8.2 -2.5
VYMI Vanguard International High Dividend Yield ETF 0.1 17 42 9.0 -1.7
KOMP State Street SPDR S&P Kensho New Economies Composite ETF 0.1 20 39 2.9 -7.9
FTRI First Trust Indxx Global Natural Resources Income ETF 0.1 70 -11 7.6 -3.1
OMFS Invesco Russell 2000 Dynamic Multifactor ETF 0.1 39 20 5.7 -5.0
GWX SPDR S&P International Small Cap ETF 0.1 40 19 6.6 -4.1
VEU Vanguard FTSE All-World ex-US Index Fund 0.1 4 55 7.6 -3.1
IWN iShares Russell 2000 Value ETF 0.1 24 35 7.6 -3.2
JSTC Adasina Social Justice All Cap Global ETF 0.1 89 -30 5.0 -5.7
VTWV Vanguard Russell 2000 Value ETF 0.1 10 49 7.7 -3.1
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.1 9 50 5.6 -5.2
VT Vanguard Total World Stock ETF 0.0 6 53 5.7 -5.1
PRFZ Invesco FTSE RAFI US 1500 Small-Mid ETF 0.0 39 20 4.2 -6.5
IWV iShares Russell 3000 ETF 0.0 20 39 4.7 -6.0
ESGV Vanguard ESG U.S. Stock ETF 0.0 9 50 4.7 -6.0
VTHR Vanguard Russell 3000 ETF 0.0 7 52 4.8 -5.9

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:

OVERWEIGHT
Above average appreciation potential. A rating of OVERWEIGHT is assigned to ETFs with ALTAR Scores in the 4th quintile (ranking higher than 60%-80%) of their category. Typically, funds in this category consist of stocks trading at attractive valuations and/or having above-average fundamentals.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 10.8 %
Divided by: Fwd. P/BV 1.0 x
Less: Expense ratio 59 bp
Equals: ALTAR Score 10.7 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.58 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.