EWZ vs SPY
Comparison between ISHARES MSCI BRAZIL ETF (EWZ, ETF) and SPDR S&P 500 ETF Trust (SPY, ETF).
5-Year PerformanceSPY has outperformed EWZ, delivering a return of +13.3% compared to +8.9%
EWZ vs SPY - Performance Comparison
Key Characteristics
Financial metrics and valuation ratios
Net Assets
EWZ
$9.70B
Winner
SPY
$652B
Expense Ratio
EWZ
0.59%
Winner
SPY
0.09%
Max Drawdown
EWZ
82.75%
Winner
SPY
56.47%
Sharpe Ratio
EWZ
1.80
Winner
SPY
2.07
5Y Beta
Winner
EWZ
0.70
SPY
1.00
P/E Ratio
EWZ
N/A
SPY
28.24
Forward P/E
EWZ
N/A
SPY
21.85
5Y Dividends CAGR
Winner
EWZ
17.67%
SPY
5.43%
5Y EPS CAGR
EWZ
N/A
SPY
25.79%
Debt to Equity
EWZ
N/A
SPY
22.35%
P/S Ratio
EWZ
N/A
SPY
3.55
P/B Ratio
EWZ
N/A
SPY
5.29
EWZ vs SPY - Holdings Comparison
EWZ and SPY have 1 common holdings. Overlap is -1.65%
EWZ's top 25 holdings weight is 85.27%. SPY's top 25 holdings weight is 51.32%.
| Rank | EWZ | SPY |
|---|---|---|
| #1 | VALE SA (n/a) - 10.87% | NVIDIA CORP (NVDA) - 8.45% |
| #2 | NU HOLDINGS LTD ORDINARY SHARES CLASS A (NU) - 8.73% | APPLE INC (AAPL) - 6.48% |
| #3 | n/a (n/a) - 8.66% | MICROSOFT CORP (MSFT) - 5.20% |
| #4 | n/a (n/a) - 7.19% | AMAZON.COM INC (AMZN) - 4.14% |
| #5 | PETROLEO BRASILEIRO SA PETROBRAS (n/a) - 6.54% | ALPHABET INC CLASS A (GOOGL) - 3.32% |
| #6 | B3 SA BRASIL BOLSA BALCAO (n/a) - 3.68% | BROADCOM INC (AVGO) - 3.09% |
| #7 | BANK BRADESCO SA PARTICIPATING PREFERRED (n/a) - 3.49% | ALPHABET INC CLASS C (GOOG) - 2.65% |
| #8 | n/a (n/a) - 3.18% | META PLATFORMS INC CLASS A (META) - 2.40% |
| #9 | WEG SA (n/a) - 2.95% | TESLA INC (TSLA) - 1.73% |
| #10 | AXIA ENERGIA (n/a) - 2.83% | BERKSHIRE HATHAWAY INC CLASS B (BRK-B) - 1.43% |
| #11 | n/a (n/a) - 2.82% | JPMORGAN CHASE & CO (JPM) - 1.37% |
| #12 | AMBEV SA (n/a) - 2.64% | ELI LILLY AND CO (LLY) - 1.13% |
| #13 | n/a (n/a) - 2.63% | EXXON MOBIL CORP (XOM) - 1.03% |
| #14 | EMBRAER SA (n/a) - 2.20% | MICRON TECHNOLOGY INC (MU) - 0.93% |
| #15 | EQUATORIAL SA (n/a) - 2.00% | WALMART INC (WMT) - 0.91% |
| #16 | PRIO SA (n/a) - 1.89% | JOHNSON & JOHNSON (JNJ) - 0.90% |
| #17 | LOCALIZA RENT A CAR SA (n/a) - 1.80% | ADVANCED MICRO DEVICES INC (AMD) - 0.86% |
| #18 | BRL/USD PURCHASED (n/a) - 1.65% | VISA INC CLASS A (V) - 0.85% |
| #19 | BANCO DO BRASIL SA BB BRASIL (n/a) - 1.55% | COSTCO WHOLESALE CORP (COST) - 0.72% |
| #20 | XP INC CLASS A (XP) - 1.42% | MASTERCARD INC CLASS A (MA) - 0.67% |
| #21 | VIBRA ENERGIA SA (n/a) - 1.39% | INTEL CORP (INTC) - 0.65% |
| #22 | BLACKROCK CASH FUNDS TREASURY SL AGENCY (n/a) - 1.38% | NETFLIX INC (NFLX) - 0.64% |
| #23 | TELEFONICA BRASIL SA (n/a) - 1.28% | CATERPILLAR INC (CAT) - 0.62% |
| #24 | SUZANO SA (n/a) - 1.26% | CHEVRON CORP (CVX) - 0.58% |
| #25 | JBS NV ORDINARY SHARES CLASS A (JBS) - 1.24% | PROCTER & GAMBLE CO (PG) - 0.57% |
| Total Holdings | 55 | 505 |
EWZ vs SPY - Historical Returns
Returns include dividend reinvestment.
1M
EWZ
-1.11%
Winner
SPY
+9.11%
3M
EWZ
+1.82%
Winner
SPY
+6.59%
6M
Winner
EWZ
+25.47%
SPY
+10.56%
1Y
Winner
EWZ
+50.16%
SPY
+32.04%
5Y(CAGR)
EWZ
+8.91%
Winner
SPY
+13.35%
10Y(CAGR)
EWZ
+9.08%
Winner
SPY
+15.49%
Max(CAGR)
EWZ
+6.79%
Winner
SPY
+8.50%
EWZ vs SPY - Annual Returns (1999 - 2026)
Returns include dividend reinvestment.
| Year | EWZ | SPY |
|---|---|---|
| 2026 | +21.49% | +8.27% |
| 2025 | +47.56% | +18.00% |
| 2024 | -29.28% | +25.59% |
| 2023 | +43.35% | +26.72% |
| 2022 | +15.27% | -18.64% |
| 2021 | -16.14% | +30.52% |
| 2020 | -21.91% | +17.28% |
| 2019 | +19.99% | +31.09% |
| 2018 | -5.44% | -5.24% |
| 2017 | +19.64% | +20.78% |
| 2016 | +70.58% | +13.59% |
| 2015 | -39.75% | +1.31% |
| 2014 | -12.60% | +14.56% |
| 2013 | -19.00% | +29.00% |
| 2012 | -3.47% | +14.17% |
| 2011 | -24.86% | +0.85% |
| 2010 | +4.14% | +13.14% |
| 2009 | +111.52% | +22.67% |
| 2008 | -54.44% | -36.25% |
| 2007 | +75.33% | +5.32% |
| 2006 | +37.30% | +13.85% |
| 2005 | +56.74% | +5.32% |
| 2004 | +31.07% | +10.75% |
| 2003 | +114.62% | +24.18% |
| 2002 | -37.59% | -22.42% |
| 2001 | -19.73% | -10.13% |
| 2000 | -10.93% | -8.84% |
| 1999 | N/A | +8.61% |
EWZ vs SPY 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 SPY was -55.20%, occurring on Mar 9, 2009. Recovery took 1224 trading sessions.
The current EWZ drawdown is -14.07%.
| Rank | EWZ | SPY |
|---|---|---|
| #1 | -77.27% May 20, 2008 - Jan 21, 2016 | -55.20% Oct 9, 2007 - Aug 16, 2012 |
| #2 | -72.20% Sep 7, 2000 - Jan 12, 2004 | -47.50% Mar 24, 2000 - Oct 26, 2006 |
| #3 | -33.32% Jan 12, 2004 - Oct 1, 2004 | -33.70% Feb 19, 2020 - Aug 10, 2020 |
| #4 | -32.06% May 9, 2006 - Dec 27, 2006 | -24.50% Jan 3, 2022 - Dec 13, 2023 |
| #5 | -26.52% Jul 23, 2007 - Sep 24, 2007 | -19.34% Sep 20, 2018 - Apr 12, 2019 |
| #6 | -18.43% Nov 8, 2007 - Feb 25, 2008 | -18.76% Feb 19, 2025 - Jun 26, 2025 |
| #7 | -17.11% Mar 4, 2005 - Jul 21, 2005 | -13.02% Jul 20, 2015 - Apr 18, 2016 |
| #8 | -15.20% Feb 27, 2008 - Apr 21, 2008 | -10.10% Jan 26, 2018 - Aug 6, 2018 |
| #9 | -13.94% Oct 3, 2005 - Nov 23, 2005 | -9.44% Sep 2, 2020 - Nov 11, 2020 |
| #10 | -13.40% Feb 22, 2007 - Mar 29, 2007 | -9.30% Jan 19, 2000 - Mar 17, 2000 |
| #11 | -12.26% Mar 2, 2006 - Apr 19, 2006 | -9.05% Jul 19, 2007 - Oct 5, 2007 |
| #12 | -10.97% Dec 31, 2004 - Feb 4, 2005 | -8.88% Jan 27, 2026 - Apr 14, 2026 |
| #13 | -9.52% Dec 6, 2005 - Jan 4, 2006 | -8.41% Jul 16, 2024 - Sep 19, 2024 |
| #14 | -8.15% Jun 1, 2007 - Jun 15, 2007 | -7.35% Sep 14, 2012 - Jan 2, 2013 |
| #15 | -7.88% Aug 10, 2005 - Aug 31, 2005 | -7.27% Sep 18, 2014 - Oct 31, 2014 |
Correlation
Correlation between EWZ and SPY is 0.33 which considered as a weak positive correlation - the stocks show a slight tendency to move together.
0.33
-101
Dividend Comparison (1999 - 2026)
EWZ vs SPY dividend yield comparison.
| Year | EWZ | SPY |
|---|---|---|
| 2026 | 0.00% | 0.24% |
| 2025 | 5.19% | 1.07% |
| 2024 | 8.91% | 1.21% |
| 2023 | 5.66% | 1.40% |
| 2022 | 12.59% | 1.65% |
| 2021 | 9.87% | 1.20% |
| 2020 | 1.71% | 1.52% |
| 2019 | 2.54% | 1.75% |
| 2018 | 2.89% | 2.04% |
| 2017 | 1.71% | 1.80% |
| 2016 | 1.81% | 2.03% |
| 2015 | 4.08% | 2.06% |
| 2014 | 3.78% | 1.87% |
| 2013 | 3.22% | 1.81% |
| 2012 | 2.80% | 2.18% |
| 2011 | 2.62% | 2.05% |
| 2010 | 3.63% | 1.80% |
| 2009 | 3.65% | 1.95% |
| 2008 | 6.17% | 3.02% |
| 2007 | 1.49% | 1.85% |
| 2006 | 2.01% | 1.73% |
| 2005 | 1.75% | 1.73% |
| 2004 | 2.07% | 1.82% |
| 2003 | 1.59% | 1.47% |
| 2002 | 1.38% | 1.70% |
| 2001 | 5.02% | 1.25% |
| 2000 | 2.24% | 1.15% |
| 1999 | 0.00% | 0.24% |
Select Stocks to Compare
Popular: EWZ vs SPY
More Comparisons
Compare with similar stocks