Which returned more over the last year, EWZ or MUB?

In the year to Oct 28, 2026, with distributions reinvested, EWZ returned +13.7% and MUB −0.4%.

Which is cheaper, EWZ or MUB?

MUB is cheaper, by 0.54 percentage points a year. That is about $54 on $10,000 held for a year. Fees come from each fund's prospectus.

Data as of Oct 28, 2026.

Across categories

EWZ vs MUB: Differences, Returns & Fees

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Over the year to Oct 28, 2026, EWZ returned +13.7% to MUB's −0.4%; 0% of their weight is in the same names.

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Net assets: $10.3bn on Oct 28, 2026 for iShares MSCI Brazil ETF, and $54.1bn on Oct 27, 2026 for iShares National Muni Bond ETF.

EWZ on its own →MUB on its own →

At a glance

+13.7%

EWZ total return, 1 year

−0.4%

MUB total return, 1 year

0.59%

EWZ expense ratio

0.05%

MUB expense ratio

Pair scorecard

MUB costs 0.54 points a year less; their one-year returns differ by 14.1 points; MUB is 4.8 times larger.

EWZ vs MUB: Differences, Returns & Fees
Measure	EWZ	MUB
Return
Measure	EWZ	MUB
Total return, 1 year	+13.7%	−0.4%
Drawdown
Measure	EWZ	MUB
Below its high	25.4%, high on May 20, 2008
Benchmark
Measure	EWZ	MUB
What it tracks	MSCI Brazil 25/50 Index	ICE AMT-Free US National Municipal Index
Cost and size
Measure	EWZ	MUB
Expense ratio	0.59%	0.05%
Net assets, as of Oct 26, 2026	$11.3bn	$54.1bn
Holdings
Measure	EWZ	MUB
Holdings in common	0%
In the S&P 500, by weight	0%
Top ten holdings, share of the fund	57.5%

Holdings in common uses holdings dated Oct 27, 2026. Method

What they share

By the books each fund has filed, EWZ and MUB hold 0% of their money in the same securities at the same weight. Holdings dated Oct 27, 2026.

50%

0 half 100%

half

0% in common

Positions both hold · largest shared weight first EWZ MUB

Only in one fund ↓

Only in EWZ

NU HOLDINGS CLASS A 8.54%

PETROLEO BRASILEIRO PREF SA 8.45%

CIA VALE DO RIO DOCE SH 8.42%

ITAU UNIBANCO HOLDING PREF SA 8.20%

PETROLEO BRASILEIRO SA PETROBRAS 8.07%

BANCO BRADESCO PREF 3.39%

B3 BRASIL BOLSA BALCAO SA 3.27%

WEG 3.13%

Only in MUB

UNIVERSITY TEX UNIV REVS 0.16%

SAN ANTONIO TEX WTR REV 0.13%

NEW YORK ST TWY AUTH ST PERS I 0.12%

NORTHWEST TEX INDPT SCH DIST 0.12%

OKLAHOMA TRANSN AUTH OK F/K/A 0.12%

HOUSTON TEX HIGHER ED FIN CORP 0.11%

NEW JERSEY ST 0.11%

OHIO ST UNIV GEN RCPTS 0.11%

Check overlap with more funds →

Side by side

EWZ iShares MSCI Brazil ETF MUB iShares National Muni Bond ETF

Where it sits Stock ETF Bond ETF

Issuer iShares iShares

What it is Tracks the MSCI Brazil Tracks an index of National Muni Bond

Total return, 1 year +13.7% −0.4%

Expense ratio 0.59% 0.05%

Holdings 59 7873

Net assets, EWZ as of Oct 28, 2026 and MUB as of Oct 27, 2026 $10.3bn $54.1bn

EWZ and MUB on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.

Alert

About each fund

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.

MUB

MUB tracks an index of National Muni Bond. Over the year to Oct 28, 2026 it returned −0.4% with distributions reinvested. The prospectus expense ratio is 0.05% a year.

Questions people ask

Which returned more over the last year, EWZ or MUB?: In the year to Oct 28, 2026, with distributions reinvested, EWZ returned +13.7% and MUB −0.4%.
Which is cheaper, EWZ or MUB?: MUB is cheaper, by 0.54 percentage points a year. That is about $54 on $10,000 held for a year. Fees come from each fund's prospectus.

Other comparisons

EWZ vs VTEB EWZ vs HYMB EWZ vs MBB EWZ vs SGOV ILF vs MUB FENI vs MUB EZU vs MUB MUB vs VPL

Where to next

EWZ on its own →MUB on its own →Hold both: look the portfolio through →Rankings →EWZ dividend history →EWZ holdings →MUB dividend history →MUB holdings →Standards and sources →

Sources and dates

EWZ filings on SEC EDGAR ↗

EWZ prospectus with the expense ratio (SEC) ↗

iShares page for EWZ ↗

MUB filings on SEC EDGAR ↗

MUB prospectus with the expense ratio (SEC) ↗

iShares page for MUB ↗

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.

Cite this pageCitation, APA and Markdown

ETFIQ, EWZ against MUB, data as of Oct 28, 2026. https://etfiq.com/compare/any/ewz-vs-mub

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Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.