Data as of Sep 12, 2026. Both funds on the fields they both publish, from the same sources.
EWZ vs MUB: how they differ
EWZ and MUB hold 0% of their weight in the same names, and EWZ returned more over the year.
iShares MSCI Brazil ETF and iShares National Muni Bond ETF.
What they hold in common
By the books each fund has filed, EWZ and MUB hold 0% of their money in the same securities at the same weight.
| Only in EWZ | Only in MUB |
|---|---|
| VALE S.A. 11.62% | Board of Regents of the University of Te 0.20% |
| Nu Holdings Ltd. 8.80% | New York State Thruway Authority 0.16% |
| Itau Unibanco Holding S.A. 8.57% | New York State Dormitory Authority 0.14% |
| Petroleo Brasileiro S.A. (Petrobras) 6.77% | Houston Higher Education Finance Corp. 0.13% |
| B3 S.A - Brasil, Bolsa, Balcao 3.61% | Northwest Independent School District 0.13% |
| AMBEV S.A. 3.23% | Ohio State University (The) 0.13% |
| WEG S.A. 3.08% | State of New Jersey 0.13% |
| Companhia de Saneamento Basico do Estado 2.90% | State of California 0.13% |
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 | MUB iShares National Muni Bond ETF | |
|---|---|---|
| Where it sits | Core index fund | Core index fund |
| Issuer | iShares | iShares |
| What it is | MSCI Brazil | National Muni Bond |
| Total return, 1 year | +32.9% | +0.1% |
| S&P 500 over the same days | +17.5% | +17.5% |
| Gap to the S&P 500 | +15.4 pts | −17.4 pts |
| Expense ratio | 0.59% | 0.05% |
| Holdings | 47 | 6603 |
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.
MUB in plain words
MUB is a bond fund tracking the National Muni Bond. Over the year to Sep 11, 2026 it returned +0.1% with distributions reinvested, against +17.5% for the S&P 500 and +23.0% for the Nasdaq-100. The prospectus expense ratio is 0.05% a year. It sat 3.6% below its high of Jul 6, 2026 on Sep 11, 2026.
Questions people ask
- Which returned more over the last year, EWZ or MUB?
- In the year to Sep 12, 2026, with distributions reinvested, EWZ returned +32.9% and MUB returned +0.1%, so EWZ returned more. One year is one year; the longer windows are in the table.
- Which is cheaper, EWZ or MUB?
- EWZ charges 0.59% a year and MUB charges 0.05%, so MUB is cheaper. Fees come from each fund's prospectus.
Other comparisons
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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 MUB, data as of Sep 12, 2026. https://etfiq.com/compare/any/EWZ-MUB Free to use with attribution; the underlying files are at Open data.
A comparison is not a recommendation. Standards and sources