Data as of Sep 13, 2026. Both funds on the fields they both publish, from the same sources.
EWZ vs IEMG: how they differ
EWZ and IEMG hold 4% 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 4% of their money in the same securities at the same weight.
| Holding | EWZ | IEMG |
|---|---|---|
| CIA VALE DO RIO DOCE SH | 9.71% | 0.39% |
| NU HOLDINGS CLASS A | 9.13% | 0.38% |
| ITAU UNIBANCO HOLDING PREF SA | 7.83% | 0.32% |
| PETROLEO BRASILEIRO PREF SA | 7.30% | 0.31% |
| PETROLEO BRASILEIRO SA PETROBRAS | 6.86% | 0.28% |
| BANCO BRADESCO PREF | 3.70% | 0.14% |
| B3 BRASIL BOLSA BALCAO SA | 3.48% | 0.12% |
| ITAUSA INVESTIMENTOS ITAU PREF SA | 2.46% | 0.11% |
| WEG | 3.28% | 0.11% |
| AMBEV SA | 2.81% | 0.10% |
| AXIA ENERGIA SA | 3.05% | 0.10% |
| BCO BTG PACTUAL UNT SA | 2.74% | 0.10% |
| Only in EWZ | Only in IEMG |
|---|---|
| ETD BRL BALANCE WITH R73215 0.66% | TAIWAN SEMICONDUCTOR MANUFACTURING 13.46% |
| CASH COLLATERAL USD JPFFT 0.43% | SAMSUNG ELECTRONICS LTD 6.62% |
| AXIA ENERGIA PREF SA 0.15% | SK HYNIX 5.38% |
| TENCENT HOLDINGS 2.35% | |
| ALIBABA GROUP HOLDING 1.61% | |
| MEDIATEK 1.52% | |
| SAMSUNG ELECTRONICS NON VOTING PRE 0.86% | |
| CHINA CONSTRUCTION BANK CORP H 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 Sep 10, 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 | 50 | 1832 |
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.
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 Sep 10, 2026, 0% of the fund by weight is stocks the S&P 500 also holds, across 1832 positions, with the top ten at 34.0%. 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 13, 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, 4% 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, EWZ against IEMG, data as of Sep 13, 2026. https://etfiq.com/compare/any/ewz-vs-iemg Free to use with attribution; the underlying files are at Open data.
A comparison is not a recommendation. Standards and sources