iShares MSCI Brazil ETF

10-Year Study

EWZ.US · · US · ETF

Executive Summary: iShares MSCI Brazil ETF has compounded at 10.6% annually over the last 10 years, with a maximum drawdown of 50.3% and an annualized volatility of 38.8%.

1Y CAGR
+67.7%
3Y CAGR
+20.9%
5Y CAGR
+9.8%
10Y CAGR
+10.6%

History & Riski10-year historical performance analysis including CAGR, Max Drawdown, Sharpe & Sortino ratios, annual returns, and rolling volatility — all computed from daily market data.

10-Year Growth of $10,000

Max DrawdownMax DrawdownThe largest peak-to-trough decline in the asset's value over the measurement period.Click for full definition →
50.3%
Sharpe RatioSharpe RatioRisk-adjusted return: how much excess return you earn per unit of total risk (volatility).Click for full definition →
0.36
Sortino RatioSortino RatioLike Sharpe, but only penalizes downside volatility — a more accurate risk measure for asymmetric return distributions.Click for full definition →
0.54
Ann. VolatilityAnnualized VolatilityThe annualized standard deviation of an asset's returns — a measure of how much prices fluctuate.Click for full definition →
31.6%
Best YearBest & Worst YearThe single calendar year with the highest and lowest return in the measured period.Click for full definition →
2025 · +48.8%
Worst YearBest & Worst YearThe single calendar year with the highest and lowest return in the measured period.Click for full definition →
2024 · -30.4%
% Positive Years% Positive YearsThe percentage of calendar years in the measurement period where the asset delivered a positive return.Click for full definition →
60%

Annual Returns

Rolling 12-Month Returns

Rolling 12-Month Annualised Volatility

Historical Drawdowns

Monthly Returns

Monthly Returns Heatmap

YearJanFebMarAprMayJunJulAugSepOctNovDecAnn.
202616.64.6-0.98.0————————30.5%
202512.5-4.87.24.60.68.0-8.011.15.10.57.8-2.248.8%
2024-5.80.3-1.8-4.3-4.6-4.61.67.6-1.3-5.8-8.1-7.7-30.4%
20238.5-10.10.43.31.915.34.4-8.9-0.6-2.914.26.432.6%
202212.64.015.0-13.37.6-18.76.05.2-2.910.3-3.6-4.512.1%
2021-7.8-6.74.96.39.45.8-7.7-2.7-11.7-8.7-1.14.1-17.3%
2020-7.8-12.3-38.64.710.27.013.1-8.4-7.2-2.923.812.3-20.4%
201918.8-5.2-4.71.00.66.31.8-7.92.85.9-4.813.427.7%
201815.2-2.4-1.3-5.7-15.8-8.512.6-10.13.919.0-0.9-2.5-2.5%
201710.62.3-0.7-0.8-5.4-2.110.75.84.2-3.6-3.75.623.6%
2016———12.2-13.819.510.20.80.611.9-11.30.829.3%

Risk X-RayiA 19-factor macroeconomic risk decomposition showing exactly which market forces (equity beta, rates, inflation, credit, commodity, crypto) drive this asset's volatility. Powered by multivariate regression against daily factor returns.

Risk Profile Insight: This asset has an estimated annualized volatility of 38.8%. The dominant macroeconomic risk driver is SHV.US, accounting for 23.3% of variance. Idiosyncratic stock-specific factors contribute 18.2%.

10-Year Historical Price Series (Growth of $10,000)
DateSimulated Value
2016-03-0110000
2016-04-0111220.541926964293
2016-05-019673.04078419422
2016-06-0111558.357458479353
2016-07-0112732.426735740768
2016-08-0112839.65666107979
2016-09-0112920.094976890648
2016-10-0114463.78688607852
2016-11-0112828.16547310681
2016-12-0112932.728934938288
2017-01-0114302.021433287622
2017-02-0114635.646807862257
2017-03-0114530.892884351668
2017-04-0114418.393519223931
2017-05-0113642.579612981868
2017-06-0113350.855807811467
2017-07-0114782.111839097974
2017-08-0115642.490730864949
2017-09-0116303.392757377214
2017-10-0115708.961856874397
2017-11-0115134.085022093555
2017-12-0115986.972421148865
2018-01-0118413.644674691448
2018-02-0117974.947940474376
2018-03-0117737.82314998222
2018-04-0116718.15480725278
2018-05-0114078.03849865407
2018-06-0112876.987150185383
2018-07-0114504.228249276246
2018-08-0113037.73680735436
2018-09-0113551.983340951801
2018-10-0116131.405861140738
2018-11-0115990.781654731069
2018-12-0115584.336431509979
2019-01-0118509.446899283863
2019-02-0117542.599928894306
2019-03-0116722.535425872313
2019-04-0116885.761084869722
2019-05-0116991.848240134084
2019-06-0118063.385646807863
2019-07-0118385.646807862257
2019-08-0116935.471583117476
2019-09-0117406.48331555691
2019-10-0118426.976992229163
2019-11-0117546.91706028747
2019-12-0119896.00792320585
2020-01-0118348.760729341255
2020-02-0116084.552288079638
2020-03-019878.802884859566
2020-04-0110344.227741378434
2020-05-0111400.909137081619
2020-06-0112202.562344456295
2020-07-0113806.376657016608
2020-08-0112652.30585606176
2020-09-0111735.867743410025
2020-10-0111396.401544009344
2020-11-0114107.623546142517
2020-12-0115846.157753060083
2021-01-0114615.07694651836
2021-02-0113636.16740311849
2021-03-0114298.72009751638
2021-04-0115200.683122555743
2021-05-0116632.70100055869
2021-06-0117595.6117629133
2021-07-0116232.731474427344
2021-08-0115798.669307735283
2021-09-0113945.413682767025
2021-10-0112725.760576971912
2021-11-0112582.53339428107
2021-12-0113102.557265478184
2022-01-0114759.637360962974
2022-02-0115352.41759358017
2022-03-0117649.004520290517
2022-04-0115296.421859921782
2022-05-0116454.047945553353
2022-06-0113383.678703844786
2022-07-0114180.125958657118
2022-08-0114913.085987099395
2022-09-0114478.198486464522
2022-10-0115963.609121844684
2022-11-0115382.129615521357
2022-12-0114686.880999542893
2023-01-0115931.357610848698
2023-02-0114319.289958860278
2023-03-0114377.063334857028
2023-04-0114844.392808166995
2023-05-0115133.196200924374
2023-06-0117449.591142262176
2023-07-0118224.38925288232
2023-08-0116599.43369394078
2023-09-0116502.552186500077
2023-10-0116018.33511097567
2023-11-0118299.748590583575
2023-12-0119477.817563106302
2024-01-0118341.20574940322
2024-02-0118391.36065823556
2024-03-0118062.687287317793
2024-04-0117288.2066128295
2024-05-0116491.505409111684
2024-06-0115729.277769312816
2024-07-0115982.52831530296
2024-08-0117191.134643709684
2024-09-0116972.421148864847
2024-10-0115988.305652902634
2024-11-0114687.579359032961
2024-12-0113554.459342780234
2025-01-0115252.552186500074
2025-02-0114517.941490172178
2025-03-0115565.671186957185
2025-04-0116282.251510995986
2025-05-0116384.592919904513
2025-06-0117695.985067804355
2025-07-0116285.23541063538
2025-08-0118094.6848494083
2025-09-0119014.74173396313
2025-10-0119119.051246889125
2025-11-0120615.699121336787
2025-12-0120169.891817766264
2026-01-0123515.66864746813
2026-02-0124588.602773122042
2026-03-0124372.746203463863
2026-04-0126328.152775661536
Annual Return Matrix
YearAnnual Return
20170.23616388324349802
2018-0.02518525578403108
20190.2766669925694172
2020-0.20355089250955694
2021-0.17313979390695355
20220.12091713869009268
20230.32620517342739563
2024-0.3041079012643456
20250.4880631759399341
20260.30531948378973883
Total Factor Risk
0.38802225358036774
VTI.US Exposure
-0.06862536130019721
VEA.US Exposure
-0.019564495089669055
VWO.US Exposure
0.06767948221242243
QQQ.US Exposure
0.037922397910562164
VTV.US Exposure
0.09104050257805266
IJR.US Exposure
0.011077307067459831
QUAL.US Exposure
0.002918453067518595
SHV.US Exposure
0.23325328829565586
TLT.US Exposure
0.11379363645809394
LQD.US Exposure
0.0700904954006871
HYG.US Exposure
0.22770424880513768
GLD.US Exposure
0.023930386503671984
USO.US Exposure
0.009974369874099455
VNQ.US Exposure
-0.013768820786054188
BTC-USD.CC Exposure
-0.0019333136482053107
CPER.US Exposure
0.02083641357944971
VIX.INDX Exposure
0.013210799403897631
UUP.US Exposure
0.00014662462213423577
TIP.US Exposure
-0.0021696568663057765
Idiosyncratic Exposure
0.18248324191158827
Value Score
46.2
Growth Score
50
Profit Score
37.5
Health Score
23.6
Yield Score
51.1
Moat Score
40

Factor Risk Decomposition

Share of annualised volatility attributable to each macro factor.

Total Est. Vol
38.8%

FundamentalsiCompany financial health metrics: P/E valuation, dividend yield, Piotroski F-Score (9-point profitability signal), Altman Z-Score (bankruptcy risk proxy), and a radar chart across 6 fundamental dimensions. Note: ETFs may show N/A for some metrics.

Fundamental Dimensions

Core Valuation

P/E Ratio (TTM)P/E RatioPrice-to-Earnings ratio — the market price of a stock divided by its earnings per share, a key valuation measure.Click for full definition →9.6x
Dividend YieldDividend YieldAnnual dividend paid per share divided by the current share price — expressed as a percentage income return.Click for full definition →4.26%
Market Cap$34.1B
Piotroski F-ScorePiotroski F-ScoreA 9-point scoring system evaluating a company's financial strength across profitability, leverage, and operating efficiency.Click for full definition →
9-point profitability signal
0.0/ 9
Weak
Altman Z-ScoreAltman Z-ScoreA bankruptcy prediction model that combines 5 financial ratios into a single score indicating financial distress risk.Click for full definition →
Bankruptcy risk proxy
1.18
Distress Zone
Income Simulation

Based on $10,000 initial investment.

Total Income Generated
$0
Avg Yield on Cost
0.00%

Momentum & MacroiPrice momentum indicators relative to key technical levels: distance from 50-Day SMA (intermediate trend), 200-Day SMA (long-term trend), 52-Week High (bullish proximity), and Beta (market sensitivity coefficient).

vs 50-Day SMAMoving Averages (SMA)A rolling average of an asset's price over a defined window — used to identify trends and momentum signals.Click for full definition →
+8.9%
Above/below 50-day moving average
vs 200-Day SMAMoving Averages (SMA)A rolling average of an asset's price over a defined window — used to identify trends and momentum signals.Click for full definition →
+29.4%
Above/below 200-day moving average
vs 52-Week High52-Week HighThe highest price an asset reached in the past 52 weeks — a key reference for momentum and valuation context.Click for full definition →
0.6% from high
Distance from 52-week high
BetaBetaA measure of an asset's sensitivity to broad market movements relative to a benchmark (e.g. S&P 500).Click for full definition →
1.46
Market sensitivity coefficient

Frequently Asked Questions & Methodology

Is iShares MSCI Brazil ETF a high-risk investment?

iShares MSCI Brazil ETF (EWZ.US) has an annualized volatility of 38.8% and experienced a maximum drawdown of 50.3% over the last 10 years. Its primary macro risk driver is SHV.US.

What is the 10-year return of EWZ.US?

Over the past 10 years, EWZ.US has generated a Compound Annual Growth Rate (CAGR) of 10.6%. It has had a positive return in 60% of the years measured.

Data Methodology & Trust

The risk and return information on this page is pre-calculated mathematically using daily market data spanning a 10-year period. Fundamentals (such as P/E Ratio, Market Cap, and Dividend Yield) represent trailing averages and may not immediately reflect real-time live market fluctuations. Advanced scoring models like the Piotroski F-Score and Altman Z-Score are proxies applied to publicly available trailing-twelve-month financial statements and may not account for recent off-balance-sheet events, qualitative company shifts, or sector-specific capital structures. Macroeconomic factor exposures are estimated via multivariate regression against standard market indices. This data is provided for quantitative insight and backtesting research, and should not be misconstrued as tailored financial advice.

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