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 +13.2% compared to +7.1%
EWZ vs SPY - Performance Comparison
Key Characteristics
Financial metrics and valuation ratios
Net Assets
EWZ
$9.30B
Winner
SPY
$781B
Expense Ratio
EWZ
0.59%
Winner
SPY
0.09%
Max Drawdown
EWZ
82.75%
Winner
SPY
56.47%
Sharpe Ratio
EWZ
1.16
Winner
SPY
1.42
5Y Beta
Winner
EWZ
0.72
SPY
1.00
P/E Ratio
EWZ
N/A
SPY
26.48
Forward P/E
EWZ
N/A
SPY
20.90
PEG Ratio
EWZ
N/A
SPY
0.30
5Y Dividends CAGR
Winner
EWZ
9.45%
SPY
6.00%
5Y EPS CAGR
EWZ
N/A
SPY
26.40%
Debt to Equity
EWZ
N/A
SPY
48.17%
P/S Ratio
EWZ
N/A
SPY
3.72
P/B Ratio
EWZ
N/A
SPY
5.55
EWZ vs SPY - Holdings Comparison
EWZ and SPY have 1 common holdings. Overlap is -0.04%
EWZ's top 25 holdings weight is 83.51%. SPY's top 25 holdings weight is 51.49%.
| Rank | EWZ | SPY |
|---|---|---|
| #1 | VALE SA (n/a) - 9.72% | NVIDIA CORP (NVDA) - 7.76% |
| #2 | NU HOLDINGS LTD ORDINARY SHARES CLASS A (NU) - 9.49% | APPLE INC (AAPL) - 7.44% |
| #3 | ITAU UNIBANCO HOLDING SA PARTICIPATING PREFERRED (n/a) - 8.54% | MICROSOFT CORP (MSFT) - 4.56% |
| #4 | PETROLEO BRASILEIRO SA PETROBRAS PARTICIPATING PREFERRED (n/a) - 6.71% | AMAZON.COM INC (AMZN) - 3.74% |
| #5 | PETROLEO BRASILEIRO SA PETROBRAS (n/a) - 6.42% | ALPHABET INC CLASS A (GOOGL) - 3.14% |
| #6 | BANK BRADESCO SA PARTICIPATING PREFERRED (n/a) - 3.79% | BROADCOM INC (AVGO) - 2.83% |
| #7 | B3 SA BRASIL BOLSA BALCAO (n/a) - 3.24% | ALPHABET INC CLASS C (GOOG) - 2.53% |
| #8 | AXIA ENERGIA (n/a) - 3.17% | META PLATFORMS INC CLASS A (META) - 2.18% |
| #9 | AMBEV SA (n/a) - 3.05% | MICRON TECHNOLOGY INC (MU) - 1.69% |
| #10 | WEG SA (n/a) - 2.90% | TESLA INC (TSLA) - 1.65% |
| #11 | COMPANHIA DE SANEAMENTO BASICO DO ESTADO DE SAO PAULO (n/a) - 2.89% | ELI LILLY AND CO (LLY) - 1.44% |
| #12 | BANCO BTG PACTUAL S.A. UNITS CONS OF 1 SH ' 2 PFD SHS -A- (n/a) - 2.72% | JPMORGAN CHASE & CO (JPM) - 1.43% |
| #13 | ITAUSA INVESTIMENTOS ITAU SA PARTICIPATING PREFERRED (n/a) - 2.56% | BERKSHIRE HATHAWAY INC CLASS B (BRK-B) - 1.39% |
| #14 | EMBRAER SA (n/a) - 2.39% | ADVANCED MICRO DEVICES INC (AMD) - 1.37% |
| #15 | PRIO SA (n/a) - 1.99% | EXXONMOBIL HOLDINGS CORP (XOM) - 0.97% |
| #16 | EQUATORIAL SA (n/a) - 1.93% | JOHNSON & JOHNSON (JNJ) - 0.93% |
| #17 | VIBRA ENERGIA SA (n/a) - 1.58% | VISA INC CLASS A (V) - 0.91% |
| #18 | BANCO DO BRASIL SA BB BRASIL (n/a) - 1.49% | INTEL CORP (INTC) - 0.77% |
| #19 | LOCALIZA RENT A CAR SA (n/a) - 1.41% | WALMART INC (WMT) - 0.75% |
| #20 | GERDAU SA PARTICIPATING PREFERRED (n/a) - 1.33% | ABBVIE INC (ABBV) - 0.70% |
| #21 | XP INC CLASS A (XP) - 1.32% | APPLIED MATERIALS INC (AMAT) - 0.69% |
| #22 | TELEFONICA BRASIL SA (n/a) - 1.25% | CISCO SYSTEMS INC (CSCO) - 0.68% |
| #23 | BB SEGURIDADE PARTICIPACOES SA (n/a) - 1.24% | MASTERCARD INC CLASS A (MA) - 0.67% |
| #24 | SUZANO SA (n/a) - 1.23% | COSTCO WHOLESALE CORP (COST) - 0.64% |
| #25 | REDE D OR SAO LUIZ SA ORDINARY SHARES (n/a) - 1.15% | CATERPILLAR INC (CAT) - 0.63% |
| Total Holdings | 55 | 505 |
EWZ vs SPY - Historical Returns
Returns include dividend reinvestment.
1M
Winner
EWZ
+2.55%
SPY
+2.30%
3M
EWZ
-9.39%
Winner
SPY
+5.00%
6M
EWZ
-3.75%
Winner
SPY
+11.88%
1Y
Winner
EWZ
+36.43%
SPY
+22.80%
5Y(CAGR)
EWZ
+7.14%
Winner
SPY
+13.20%
10Y(CAGR)
EWZ
+5.82%
Winner
SPY
+15.26%
Max(CAGR)
EWZ
+6.40%
Winner
SPY
+8.59%
EWZ vs SPY - Annual Returns (1999 - 2026)
Returns include dividend reinvestment.
| Year | EWZ | SPY |
|---|---|---|
| 2026 | +12.27% | +13.10% |
| 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 -20.59%. The current SPY drawdown is -0.36%.
| 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 0.36 which considered as a weak positive correlation - the stocks show a slight tendency to move together.
0.36
-101
Dividend Comparison (1999 - 2026)
EWZ vs SPY dividend yield comparison.
| Year | EWZ | SPY |
|---|---|---|
| 2026 | 0.92% | 0.48% |
| 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
Compare EWZ with:
Compare SPY with:
Popular suggestions:
SPY vs VOO
SPDR S&P 500 ETF Trust vs VANGUARD 500 INDEX FUND ETF SHARES
SPY vs BRK-B
SPDR S&P 500 ETF Trust vs Berkshire Hathaway Inc - Class B
SPY vs SCHD
SPDR S&P 500 ETF Trust vs SCHWAB U.S. DIVIDEND EQUITY ETF
SPY vs GLD
SPDR S&P 500 ETF Trust vs SPDR Gold Shares ETF
BRZU vs EWZ
DIREXION DAILY MSCI BRAZIL BULL 2X SHARES vs ISHARES MSCI BRAZIL ETF
EWZ vs FLBR
ISHARES MSCI BRAZIL ETF vs FRANKLIN FTSE BRAZIL ETF
SPY vs SPYG
SPDR S&P 500 ETF Trust vs STATE STREET(R) SPDR(R) PORTFOLIO S&P 500(R) GROWTH ETF