EWZ vs DFAX
Comparison between ISHARES MSCI BRAZIL ETF (EWZ, ETF) and DIMENSIONAL WORLD EX U.S. CORE EQUITY 2 ETF (DFAX, ETF).
5-Year PerformanceDFAX has outperformed EWZ, delivering a return of +10.2% compared to +9.2%
EWZ vs DFAX - Performance Comparison
Key Characteristics
Financial metrics and valuation ratios
Net Assets
Winner
EWZ
$12B
DFAX
$12B
Expense Ratio
EWZ
0.59%
Winner
DFAX
0.28%
Max Drawdown
EWZ
82.75%
Winner
DFAX
30.88%
Sharpe Ratio
EWZ
1.54
Winner
DFAX
2.11
5Y Beta
EWZ
0.70
Winner
DFAX
0.70
5Y Dividends CAGR
EWZ
17.67%
DFAX
N/A
EWZ vs DFAX - Holdings Comparison
EWZ and DFAX have 0 common holdings. Overlap is 0.00%
EWZ's top 25 holdings weight is 85.27%. DFAX's top 25 holdings weight is 5.90%.
| Rank | EWZ | DFAX |
|---|---|---|
| #1 | VALE SA (n/a) - 10.87% | n/a (TSM) - 0.85% |
| #2 | NU HOLDINGS LTD ORDINARY SHARES CLASS A (NU) - 8.73% | NOVARTIS AG ADR (NVS) - 0.60% |
| #3 | n/a (n/a) - 8.66% | n/a (SHEL) - 0.57% |
| #4 | n/a (n/a) - 7.19% | ASML HOLDING NV ADR (ASML) - 0.43% |
| #5 | PETROLEO BRASILEIRO SA PETROBRAS (n/a) - 6.54% | BP PLC ADR (BP) - 0.27% |
| #6 | B3 SA BRASIL BOLSA BALCAO (n/a) - 3.68% | HSBC HOLDINGS PLC ADR (HSBC) - 0.23% |
| #7 | BANK BRADESCO SA PARTICIPATING PREFERRED (n/a) - 3.49% | ASTRAZENECA PLC ADR (AZN) - 0.23% |
| #8 | n/a (n/a) - 3.18% | SUNCOR ENERGY INC (SU) - 0.22% |
| #9 | WEG SA (n/a) - 2.95% | ROYAL BANK OF CANADA (RY) - 0.21% |
| #10 | AXIA ENERGIA (n/a) - 2.83% | UNILEVER PLC ADR (UL) - 0.20% |
| #11 | n/a (n/a) - 2.82% | CANADIAN NATURAL RESOURCES LTD (CNQ) - 0.19% |
| #12 | AMBEV SA (n/a) - 2.64% | AGNICO EAGLE MINES LTD (AEM) - 0.17% |
| #13 | n/a (n/a) - 2.63% | THE TORONTO-DOMINION BANK (TD) - 0.17% |
| #14 | EMBRAER SA (n/a) - 2.20% | BHP GROUP LTD ADR (BHP) - 0.15% |
| #15 | EQUATORIAL SA (n/a) - 2.00% | ICICI BANK LTD ADR (IBN) - 0.15% |
| #16 | PRIO SA (n/a) - 1.89% | n/a (CLS) - 0.14% |
| #17 | LOCALIZA RENT A CAR SA (n/a) - 1.80% | BANCO BILBAO VIZCAYA ARGENTARIA SA ADR (BBVA) - 0.14% |
| #18 | BRL/USD PURCHASED (n/a) - 1.65% | ALCON INC (ALC) - 0.14% |
| #19 | BANCO DO BRASIL SA BB BRASIL (n/a) - 1.55% | RIO TINTO PLC ADR (RIO) - 0.14% |
| #20 | XP INC CLASS A (XP) - 1.42% | CENOVUS ENERGY INC (CVE) - 0.13% |
| #21 | VIBRA ENERGIA SA (n/a) - 1.39% | TC ENERGY CORP (TRP) - 0.12% |
| #22 | BLACKROCK CASH FUNDS TREASURY SL AGENCY (n/a) - 1.38% | YUM CHINA HOLDINGS INC (YUMC) - 0.12% |
| #23 | TELEFONICA BRASIL SA (n/a) - 1.28% | NUTRIEN LTD (NTR) - 0.11% |
| #24 | SUZANO SA (n/a) - 1.26% | SUN LIFE FINANCIAL INC (SLF) - 0.11% |
| #25 | JBS NV ORDINARY SHARES CLASS A (JBS) - 1.24% | GSK PLC ADR (GSK) - 0.11% |
| Total Holdings | 55 | 52 |
EWZ vs DFAX - Historical Returns
Returns include dividend reinvestment.
1M
EWZ
-7.90%
Winner
DFAX
+2.90%
3M
EWZ
-0.65%
Winner
DFAX
+3.37%
6M
Winner
EWZ
+19.25%
DFAX
+16.12%
1Y
Winner
EWZ
+46.72%
DFAX
+37.83%
5Y(CAGR)
EWZ
+9.19%
Winner
DFAX
+10.16%
10Y(CAGR)
EWZ
+8.23%
DFAX
N/A
Max(CAGR)
EWZ
+6.69%
Winner
DFAX
+10.16%
EWZ vs DFAX - Annual Returns (2000 - 2026)
Returns include dividend reinvestment.
| Year | EWZ | DFAX |
|---|---|---|
| 2026 | +18.76% | +12.30% |
| 2025 | +47.56% | +35.62% |
| 2024 | -29.28% | +5.82% |
| 2023 | +43.35% | +15.89% |
| 2022 | +15.27% | -14.97% |
| 2021 | -16.14% | -2.69% |
| 2020 | -21.91% | N/A |
| 2019 | +19.99% | N/A |
| 2018 | -5.44% | N/A |
| 2017 | +19.64% | N/A |
| 2016 | +70.58% | N/A |
| 2015 | -39.75% | N/A |
| 2014 | -12.60% | N/A |
| 2013 | -19.00% | N/A |
| 2012 | -3.47% | N/A |
| 2011 | -24.86% | N/A |
| 2010 | +4.14% | N/A |
| 2009 | +111.52% | N/A |
| 2008 | -54.44% | N/A |
| 2007 | +75.33% | N/A |
| 2006 | +37.30% | N/A |
| 2005 | +56.74% | N/A |
| 2004 | +31.07% | N/A |
| 2003 | +114.62% | N/A |
| 2002 | -37.59% | N/A |
| 2001 | -19.73% | N/A |
| 2000 | -10.93% | N/A |
EWZ vs DFAX Drawdown Comparison
The maximum drawdown for EWZ was -77.27%, occurring on Jan 21, 2016. This drawdown has not yet recovered.
The maximum drawdown for DFAX was -28.13%, occurring on Oct 12, 2022. Recovery took 624 trading sessions.
The current EWZ drawdown is -16.01%. The current DFAX drawdown is -1.14%.
| Rank | EWZ | DFAX |
|---|---|---|
| #1 | -77.27% May 20, 2008 - Jan 21, 2016 | -28.13% Sep 13, 2021 - Mar 7, 2024 |
| #2 | -72.20% Sep 7, 2000 - Jan 12, 2004 | -13.89% Mar 19, 2025 - May 2, 2025 |
| #3 | -33.32% Jan 12, 2004 - Oct 1, 2004 | -11.11% Feb 25, 2026 - May 6, 2026 |
| #4 | -32.06% May 9, 2006 - Dec 27, 2006 | -9.41% Sep 26, 2024 - Mar 17, 2025 |
| #5 | -26.52% Jul 23, 2007 - Sep 24, 2007 | -7.96% Jul 12, 2024 - Aug 23, 2024 |
| #6 | -18.43% Nov 8, 2007 - Feb 25, 2008 | -4.58% Nov 12, 2025 - Dec 10, 2025 |
| #7 | -17.11% Mar 4, 2005 - Jul 21, 2005 | -4.21% Apr 9, 2024 - May 6, 2024 |
| #8 | -15.20% Feb 27, 2008 - Apr 21, 2008 | -3.83% Aug 23, 2024 - Sep 19, 2024 |
| #9 | -13.94% Oct 3, 2005 - Nov 23, 2005 | -3.40% Jul 23, 2025 - Aug 12, 2025 |
| #10 | -13.40% Feb 22, 2007 - Mar 29, 2007 | -3.37% Oct 6, 2025 - Oct 24, 2025 |
| #11 | -12.26% Mar 2, 2006 - Apr 19, 2006 | -3.19% May 17, 2024 - Jul 11, 2024 |
| #12 | -10.97% Dec 31, 2004 - Feb 4, 2005 | -2.48% Jun 12, 2025 - Jun 26, 2025 |
| #13 | -9.52% Dec 6, 2005 - Jan 4, 2006 | -2.21% Oct 27, 2025 - Nov 11, 2025 |
| #14 | -8.15% Jun 1, 2007 - Jun 15, 2007 | -1.94% Aug 22, 2025 - Sep 8, 2025 |
| #15 | -7.88% Aug 10, 2005 - Aug 31, 2005 | -1.87% Jan 27, 2026 - Feb 6, 2026 |
Correlation
Correlation between EWZ and DFAX is 0.81 which considered as a strong positive correlation - the stocks tend to move together.
0.81
-101
Dividend Comparison (2000 - 2026)
EWZ vs DFAX dividend yield comparison.
| Year | EWZ | DFAX |
|---|---|---|
| 2026 | 0.00% | 0.16% |
| 2025 | 5.19% | 2.58% |
| 2024 | 8.91% | 2.98% |
| 2023 | 5.66% | 3.01% |
| 2022 | 12.59% | 3.30% |
| 2021 | 9.87% | 1.40% |
| 2020 | 1.71% | 0.00% |
| 2019 | 2.54% | 0.00% |
| 2018 | 2.89% | 0.00% |
| 2017 | 1.71% | 0.00% |
| 2016 | 1.81% | 0.00% |
| 2015 | 4.08% | 0.00% |
| 2014 | 3.78% | 0.00% |
| 2013 | 3.22% | 0.00% |
| 2012 | 2.80% | 0.00% |
| 2011 | 2.62% | 0.00% |
| 2010 | 3.63% | 0.00% |
| 2009 | 3.65% | 0.00% |
| 2008 | 6.17% | 0.00% |
| 2007 | 1.49% | 0.00% |
| 2006 | 2.01% | 0.00% |
| 2005 | 1.75% | 0.00% |
| 2004 | 2.07% | 0.00% |
| 2003 | 1.59% | 0.00% |
| 2002 | 1.38% | 0.00% |
| 2001 | 5.02% | 0.00% |
| 2000 | 2.24% | 0.00% |
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