Data as of Sep 12, 2026. Both funds on the fields they both publish, from the same sources.
EWZ vs IEMG: how they differ
EWZ and IEMG hold 3% of their weight in the same names, and EWZ returned more over the year.
iShares MSCI Brazil ETF and iShares Core MSCI Emerging Markets ETF.
What they hold in common
By the books each fund has filed, EWZ and IEMG hold 3% of their money in the same securities at the same weight.
| Holding | EWZ | IEMG |
|---|---|---|
| VALE S.A. | 11.62% | 0.41% |
| Nu Holdings Ltd. | 8.80% | 0.31% |
| Itau Unibanco Holding S.A. | 8.57% | 0.29% |
| Petroleo Brasileiro S.A. (Petrobras) | 6.77% | 0.24% |
| B3 S.A - Brasil, Bolsa, Balcao | 3.61% | 0.12% |
| AMBEV S.A. | 3.23% | 0.10% |
| ITAUSA S.A. | 2.65% | 0.10% |
| WEG S.A. | 3.08% | 0.10% |
| Companhia de Saneamento Basico do Estado | 2.90% | 0.10% |
| BANCO BTG PACTUAL S.A. | 2.71% | 0.09% |
| EMBRAER S.A. | 2.18% | 0.07% |
| PRIO S.A. | 2.18% | 0.07% |
| Only in EWZ | Only in IEMG |
|---|---|
| Taiwan Semiconductor Manufacturing Compa 12.52% | |
| SK hynix Inc. 5.83% | |
| Tencent Holdings Limited 2.38% | |
| Alibaba Group Holding Limited 1.83% | |
| MediaTek Inc. 1.42% | |
| DELTA ELECTRONICS, INC. 1.03% | |
| HON HAI PRECISION INDUSTRY CO., LTD. 0.79% | |
| Samsung Electronics Co., Ltd. 0.74% |
Weight overlap is an ETFIQ calculation: for every security both funds hold, the smaller of the two weights, summed. Above 50%, holding both is close to holding one of them twice. Holdings dated May 31, 2026.
| EWZ iShares MSCI Brazil ETF | IEMG iShares Core MSCI Emerging Markets ETF | |
|---|---|---|
| Where it sits | Core index fund | Core index fund |
| Issuer | iShares | iShares |
| What it is | MSCI Brazil | Core MSCI Emerging Markets |
| Total return, 1 year | +32.9% | +30.6% |
| S&P 500 over the same days | +17.5% | +17.5% |
| Gap to the S&P 500 | +15.4 pts | +13.1 pts |
| Expense ratio | 0.59% | 0.09% |
| Already in the S&P 500 | 0.0% | 0.0% |
| Holdings | 47 | 2695 |
EWZ in plain words
EWZ is an index equity fund tracking the MSCI Brazil. Over the year to Sep 11, 2026 it returned +32.9% with distributions reinvested, against +17.5% for the S&P 500 and +23.0% for the Nasdaq-100. The prospectus expense ratio is 0.59% a year. By its holdings filed for May 31, 2026, 0% of the fund by weight is stocks the S&P 500 also holds, across 47 positions, with the top ten at 59.3%. It sat 7.6% below its high of Apr 14, 2026 on Sep 11, 2026.
IEMG in plain words
IEMG is an index equity fund tracking the Core MSCI Emerging Markets. Over the year to Sep 11, 2026 it returned +30.6% with distributions reinvested, against +17.5% for the S&P 500 and +23.0% for the Nasdaq-100. The prospectus expense ratio is 0.09% a year. By its holdings filed for May 31, 2026, 0% of the fund by weight is stocks the S&P 500 also holds, across 2695 positions, with the top ten at 34.1%. It sat 4.0% below its high of Jun 22, 2026 on Sep 11, 2026.
Questions people ask
- Which returned more over the last year, EWZ or IEMG?
- In the year to Sep 12, 2026, with distributions reinvested, EWZ returned +32.9% and IEMG returned +30.6%, so EWZ returned more. One year is one year; the longer windows are in the table.
- Which is cheaper, EWZ or IEMG?
- EWZ charges 0.59% a year and IEMG charges 0.09%, so IEMG is cheaper. Fees come from each fund's prospectus.
- How much do EWZ and IEMG overlap with the S&P 500?
- By their latest filed holdings, 0% of EWZ and 0% of IEMG by weight is stocks the S&P 500 already holds. Between the two funds, 3% of their books are the same securities at the same weight.
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Where these figures came from
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement.
Cite this page. ETFIQ, EWZ against IEMG, data as of Sep 12, 2026. https://etfiq.com/compare/any/EWZ-IEMG Free to use with attribution; the underlying files are at Open data.
A comparison is not a recommendation. Standards and sources