Data as of Sep 13, 2026. Both funds on the fields they both publish, from the same sources.
ACWX vs EWZ: how they differ
ACWX and EWZ hold 1% of their weight in the same names, and EWZ returned more over the year.
iShares MSCI ACWI ex U.S. ETF and iShares MSCI Brazil ETF.
What they hold in common
By the books each fund has filed, ACWX and EWZ hold 1% of their money in the same securities at the same weight.
| Holding | ACWX | EWZ |
|---|---|---|
| CIA VALE DO RIO DOCE SH | 0.15% | 9.71% |
| NU HOLDINGS CLASS A | 0.14% | 9.13% |
| ITAU UNIBANCO HOLDING PREF SA | 0.12% | 7.83% |
| PETROLEO BRASILEIRO PREF SA | 0.12% | 7.30% |
| PETROLEO BRASILEIRO SA PETROBRAS | 0.10% | 6.86% |
| BLK CSH FND TREASURY SL AGENCY | 0.11% | 0.08% |
| B3 BRASIL BOLSA BALCAO SA | 0.05% | 3.48% |
| BANCO BRADESCO PREF | 0.05% | 3.70% |
| AMBEV SA | 0.04% | 2.81% |
| AXIA ENERGIA SA | 0.04% | 3.05% |
| BCO BTG PACTUAL UNT SA | 0.04% | 2.74% |
| ITAUSA INVESTIMENTOS ITAU PREF SA | 0.04% | 2.46% |
| Only in ACWX | Only in EWZ |
|---|---|
| TAIWAN SEMICONDUCTOR MANUFACTURING 5.09% | ETD BRL BALANCE WITH R73215 0.66% |
| SAMSUNG ELECTRONICS LTD 2.50% | ENGIE BRASIL ENERGIA SA 0.55% |
| SK HYNIX 2.04% | CAIXA SEGURIDADE PARTICIPACOES SA 0.54% |
| ASML HOLDING 1.77% | CPFL ENERGIA 0.49% |
| HSBC HOLDINGS PLC 0.94% | CASH COLLATERAL USD JPFFT 0.43% |
| TENCENT HOLDINGS 0.88% | PORTO SEGURO SA 0.38% |
| ROCHE PS PAR AG 0.79% | ITAU UNIBANCO HOLDING SA 0.33% |
| ROYAL BANK OF CANADA 0.76% | AXIA ENERGIA PREF SA 0.15% |
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 Sep 10, 2026.
| ACWX iShares MSCI ACWI ex U.S. ETF | EWZ iShares MSCI Brazil ETF | |
|---|---|---|
| Where it sits | Core index fund | Core index fund |
| Issuer | iShares | iShares |
| What it is | MSCI ACWI ex U.S. | MSCI Brazil |
| Total return, 1 year | +23.0% | +32.9% |
| S&P 500 over the same days | +17.5% | +17.5% |
| Gap to the S&P 500 | +5.5 pts | +15.4 pts |
| Expense ratio | 0.32% | 0.59% |
| Already in the S&P 500 | 0.0% | 0.0% |
| Holdings | 1515 | 50 |
ACWX in plain words
ACWX is an index equity fund tracking the MSCI ACWI ex U.S.. Over the year to Sep 11, 2026 it returned +23.0% with distributions reinvested, against +17.5% for the S&P 500 and +23.0% for the Nasdaq-100. The prospectus expense ratio is 0.32% a year. By its holdings filed for Sep 10, 2026, 0% of the fund by weight is stocks the S&P 500 also holds, across 1515 positions, with the top ten at 16.1%.
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 Sep 10, 2026, 0% of the fund by weight is stocks the S&P 500 also holds, across 50 positions, with the top ten at 57.1%. It sat 7.6% below its high of Apr 14, 2026 on Sep 11, 2026.
Questions people ask
- Which returned more over the last year, ACWX or EWZ?
- In the year to Sep 13, 2026, with distributions reinvested, ACWX returned +23.0% and EWZ returned +32.9%, so EWZ returned more. One year is one year; the longer windows are in the table.
- Which is cheaper, ACWX or EWZ?
- ACWX charges 0.32% a year and EWZ charges 0.59%, so ACWX is cheaper. Fees come from each fund's prospectus.
- How much do ACWX and EWZ overlap with the S&P 500?
- By their latest filed holdings, 0% of ACWX and 0% of EWZ by weight is stocks the S&P 500 already holds. Between the two funds, 1% of their books are the same securities at the same weight.
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, ACWX against EWZ, data as of Sep 13, 2026. https://etfiq.com/compare/any/acwx-vs-ewz Free to use with attribution; the underlying files are at Open data.
A comparison is not a recommendation. Standards and sources