Data as of Oct 28, 2026.

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EWZ vs VBR: Differences, Returns & Fees

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Over the year to Oct 28, 2026, EWZ returned +13.7% to VBR's +17.6%; 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 $35.1bn on Sep 30, 2026 for Vanguard Morningstar Small-Cap Value ETF.

At a glance
+13.7%
EWZ total return, 1 year
+17.6%
VBR total return, 1 year
0.59%
EWZ expense ratio
0.05%
VBR expense ratio

Pair scorecard

VBR costs 0.54 points a year less; their one-year returns differ by 3.9 points; VBR is 4.1 times larger.

EWZ vs VBR: Differences, Returns & Fees
MeasureEWZVBR
Return
Total return, 1 year+13.7%+17.6%
Drawdown
Below its high25.4%, high on May 20, 20083.9%, high on Aug 14, 2026
Benchmark
What it tracksMSCI Brazil 25/50 IndexMorningstar US Small Cap Value Index
Cost and size
Expense ratio0.59%0.05%
Net assets, as of Sep 30, 2026$8.6bn$35.1bn
Holdings
Holdings in common0%
Top ten holdings, share of the fund57.5%5.9%

Holdings in common uses holdings dated Sep 30, 2026 and Oct 27, 2026. Method

What they share

0%

By the books each fund has filed, EWZ and VBR hold 0% of their money in the same securities at the same weight. Holdings dated Sep 30, 2026 and Oct 27, 2026.

0 half 100%

half

0% in common

Positions both hold · largest shared weight first EWZ VBR
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 VBR
Moderna Inc 0.79%
Jabil Inc 0.68%
SLCMT1142 0.62%
Williams-Sonoma Inc 0.61%
Atmos Energy Corp 0.60%
F5 Inc 0.57%
Smurfit Westrock PLC 0.53%
Tapestry Inc 0.52%
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Side by side

EWZ iShares MSCI Brazil ETF VBR Vanguard Morningstar Small-Cap Value ETF
Where it sits Stock ETF Stock ETF
What it is Tracks the MSCI Brazil Tracks an index of Small-Cap Value
Total return, 1 year +13.7% +17.6%
Expense ratio 0.59% 0.05%
Already in the S&P 500 0.0% 30.4%
Holdings 59 822
Net assets, EWZ as of Oct 28, 2026 and VBR as of Sep 30, 2026 $10.3bn $35.1bn

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

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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.

VBR

VBR tracks an index of Small-Cap Value. Over the year to Oct 28, 2026 it returned +17.6% with distributions reinvested. The prospectus expense ratio is 0.05% a year. By its holdings published by its issuer as of Sep 30, 2026, 30% of the fund by weight is stocks the S&P 500 also holds, across 822 positions, with the top ten at 5.9%. It sat 3.9% below its high of Aug 14, 2026 on Oct 28, 2026.

Questions people ask

Which returned more over the last year, EWZ or VBR?
In the year to Oct 28, 2026, with distributions reinvested, EWZ returned +13.7% and VBR +17.6%.
Which is cheaper, EWZ or VBR?
VBR 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.
How much do EWZ and VBR overlap with the S&P 500?
By their latest filed holdings, 0% of EWZ and 30% of VBR by weight is stocks the S&P 500 already holds.
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ETFIQ, EWZ against VBR, data as of Oct 28, 2026. https://etfiq.com/compare/any/ewz-vs-vbr

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