Data as of Oct 28, 2026.
EWZ vs ILF: Differences, Returns & Fees
Over the year to Oct 28, 2026, EWZ returned +13.7% to ILF's +17.2%; 21% of their weight is in the same names.
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Net assets on Oct 28, 2026: $10.3bn for iShares MSCI Brazil ETF and $3.5bn for iShares Latin America 40 ETF.
Pair scorecard
ILF costs 0.12 points a year less; their one-year returns differ by 3.5 points; EWZ is 2.9 times larger.
| Measure | EWZ | ILF |
|---|---|---|
| Return | ||
| Total return, 1 year | +13.7% | +17.2% |
| Drawdown | ||
| Below its high | 25.4%, high on May 20, 2008 | 13.7%, high on Oct 12, 2026 |
| Benchmark | ||
| What it tracks | MSCI Brazil 25/50 Index | S&P Latin America 40 |
| Cost and size | ||
| Expense ratio | 0.59% | 0.47% |
| Net assets | $10.3bn | $3.5bn |
| Holdings | ||
| Holdings in common | 21% | |
| Top ten holdings, share of the fund | 57.5% | 55.6% |
Holdings in common uses holdings dated Oct 27, 2026. Method
Risk and return
Nov 2, 2001 to Oct 23, 2026 · 1,303 weekly returnsEWZ returned slightly more: +988.8% to +925.5%. ILF swung less: 28.7% to 34.7%. ILF fell less at its worst: −64.9% to −76.1%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | EWZ | ILF | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +988.8% | +925.5% | EWZ (slight) | Price change plus distributions, reinvested. |
| Annualized | +10.0% | +9.7% | EWZ (slight) | Total return as a yearly rate. |
| Price return | +340.9% | +355.3% | ILF (slight) | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 34.7% | 28.7% | ILF | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 23.8% | 20.0% | ILF | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −76.1% | −64.9% | ILF | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | 0.40 | 0.41 | ILF (slight) | Return above Treasury bills per unit of volatility. |
| Sortino | 0.58 | 0.58 | Tie | Return above Treasury bills per unit of downside deviation. |
| Calmar | 0.13 | 0.15 | ILF | Annualized return divided by the max drawdown. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 1,303 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, EWZ and ILF hold 21% of their money in the same securities at the same weight. Holdings dated Oct 27, 2026.
half
21% in common
Only in one fund ↓
Side by side
EWZ and ILF on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
EWZ and ILF are built for the same job. How do they differ in cost, holdings and results?
- What each follows. EWZ follows MSCI Brazil 25/50 Index and ILF follows S&P Latin America 40.
- Holdings in common. 21% of the weight is in the same securities (holdings dated Oct 27, 2026).
- One-year total return. Over 1 year to Oct 28, 2026 EWZ returned +13.7% and ILF +17.2% with distributions reinvested, a gap of 3.5 points.
Data as of Oct 28, 2026.
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EWZ
EWZ tracks the MSCI Brazil. Over the year to Oct 28, 2026 it returned +13.7% with distributions reinvested. The prospectus expense ratio is 0.59% a year. By its holdings published by its issuer for Oct 27, 2026, 0% of the fund by weight is stocks the S&P 500 also holds, across 59 positions, with the top ten at 57.5%. It sat 25.4% below its high of May 20, 2008 on Oct 28, 2026.
ILF
ILF tracks an index of Latin America 40. Over the year to Oct 28, 2026 it returned +17.2% with distributions reinvested. The prospectus expense ratio is 0.47% a year. By its holdings published by its issuer for Oct 27, 2026, 0% of the fund by weight is stocks the S&P 500 also holds, across 46 positions, with the top ten at 55.6%. It sat 13.7% below its high of Oct 12, 2026 on Oct 28, 2026.
Questions people ask
- Which returned more over the last year, EWZ or ILF?
- In the year to Oct 28, 2026, with distributions reinvested, EWZ returned +13.7% and ILF +17.2%.
- Which is cheaper, EWZ or ILF?
- ILF is cheaper, by 0.12 percentage points a year. That is about $12 on $10,000 held for a year. Fees come from each fund's prospectus.
Links are sources, not endorsements. A comparison is not a recommendation.
How this is computed
Overlap adds up the smaller of the two weights for each security both funds hold.
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ETFIQ, EWZ against ILF, data as of Oct 28, 2026. https://etfiq.com/compare/any/ewz-vs-ilf
ETFIQ. (Oct 28, 2026). EWZ against ILF. Retrieved from https://etfiq.com/compare/any/ewz-vs-ilf
[EWZ against ILF (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/ewz-vs-ilf)
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