Data as of Sep 13, 2026. Both funds on the fields they both publish, from the same sources.
EWZ vs SPY: how they differ
EWZ and SPY hold 0% of their weight in the same names, and EWZ returned more over the year.
iShares MSCI Brazil ETF and SPDR S&P 500 ETF Trust.
What they hold in common
By the books each fund has filed, EWZ and SPY hold 0% of their money in the same securities at the same weight.
| Only in EWZ | Only in SPY |
|---|---|
| CIA VALE DO RIO DOCE SH 9.71% | NVIDIA CORP 8.08% |
| NU HOLDINGS CLASS A 9.13% | APPLE INC 7.33% |
| ITAU UNIBANCO HOLDING PREF SA 7.83% | MICROSOFT CORP 5.59% |
| PETROLEO BRASILEIRO PREF SA 7.30% | AMAZON.COM INC 3.77% |
| PETROLEO BRASILEIRO SA PETROBRAS 6.86% | ALPHABET INC CL A 2.98% |
| BANCO BRADESCO PREF 3.70% | BROADCOM INC 2.61% |
| B3 BRASIL BOLSA BALCAO SA 3.48% | ALPHABET INC CL C 2.39% |
| WEG 3.28% | META PLATFORMS INC CLASS A 2.16% |
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 | SPY SPDR S&P 500 ETF Trust | |
|---|---|---|
| Where it sits | Core index fund | Core index fund |
| Issuer | iShares | State Street |
| What it is | MSCI Brazil | S&P 500 |
| Total return, 1 year | +32.9% | +17.5% |
| S&P 500 over the same days | +17.5% | +17.5% |
| Gap to the S&P 500 | +15.4 pts | 0.0 pts |
| Expense ratio | 0.59% | 0.09% |
| Already in the S&P 500 | 0.0% | 100.0% |
| Holdings | 50 | 505 |
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.
SPY in plain words
SPY is an index equity fund tracking the S&P 500. Over the year to Sep 11, 2026 it returned +17.5% 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, 100% of the fund by weight is stocks the S&P 500 also holds, across 505 positions, with the top ten at 38.2%.
Questions people ask
- Which returned more over the last year, EWZ or SPY?
- In the year to Sep 13, 2026, with distributions reinvested, EWZ returned +32.9% and SPY returned +17.5%, so EWZ returned more. One year is one year; the longer windows are in the table.
- Which is cheaper, EWZ or SPY?
- EWZ charges 0.59% a year and SPY charges 0.09%, so SPY is cheaper. Fees come from each fund's prospectus.
- How much do EWZ and SPY overlap with the S&P 500?
- By their latest filed holdings, 0% of EWZ and 100% of SPY by weight is stocks the S&P 500 already holds. Between the two funds, 0% of their books are the same securities at the same weight.
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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 SPY, data as of Sep 13, 2026. https://etfiq.com/compare/any/ewz-vs-spy Free to use with attribution; the underlying files are at Open data.
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