EWZ.USvsEEM.US

10-Year Study
iShares MSCI Brazil ETF()
iShares MSCI Emerging Markets ETF()

The Verdict

Over the synchronized 10-year period measured, neither historically led across 11 distinct risk and return vectors.
EWZ.US generated a 10-year CAGR of 10.6% (Max Drawdown: 50.3%), while EEM.US generated 9.0% (Max Drawdown: 36.5%).

EWZ.US
7
metric wins
10.6% CAGR
VS
EEM.US
4
metric wins
9.0% CAGR
Tied — very close race

Head-to-Head StatisticsiDetailed side-by-side breakdown of return and risk metrics.

10Y CAGRCAGRCompound Annual Growth Rate — the annualized rate of return over a period, accounting for compounding.Click for full definition →
EWZ.US
+10.6%
VS
EEM.US
+9.0%
5Y CAGRCAGRCompound Annual Growth Rate — the annualized rate of return over a period, accounting for compounding.Click for full definition →
EWZ.US
+9.8%
VS
EEM.US
+5.1%
3Y CAGRCAGRCompound Annual Growth Rate — the annualized rate of return over a period, accounting for compounding.Click for full definition →
EWZ.US
+20.9%
VS
EEM.US
+21.4%
1Y CAGRCAGRCompound Annual Growth Rate — the annualized rate of return over a period, accounting for compounding.Click for full definition →
EWZ.US
+67.7%
VS
EEM.US
+44.9%
Max DrawdownMax DrawdownThe largest peak-to-trough decline in the asset's value over the measurement period.Click for full definition →
lower is better
EWZ.US
-50.3%
VS
EEM.US
-36.5%
Sharpe RatioSharpe RatioRisk-adjusted return: how much excess return you earn per unit of total risk (volatility).Click for full definition →
EWZ.US
0.36
VS
EEM.US
0.33
Sortino RatioSortino RatioLike Sharpe, but only penalizes downside volatility — a more accurate risk measure for asymmetric return distributions.Click for full definition →
EWZ.US
0.54
VS
EEM.US
0.51
Ann. VolatilityAnnualized VolatilityThe annualized standard deviation of an asset's returns — a measure of how much prices fluctuate.Click for full definition →
lower is better
EWZ.US
+31.6%
VS
EEM.US
+16.8%
% Positive Years% Positive YearsThe percentage of calendar years in the measurement period where the asset delivered a positive return.Click for full definition →
EWZ.US
+60.0%
VS
EEM.US
+70.0%
Dividend YieldDividend YieldAnnual dividend paid per share divided by the current share price — expressed as a percentage income return.Click for full definition →
EWZ.US
+4.3%
VS
EEM.US
+0.0%
10Y Income ($10k)
EWZ.US
$0
VS
EEM.US
$0
BetaBetaA measure of an asset's sensitivity to broad market movements relative to a benchmark (e.g. S&P 500).Click for full definition →
lower = less market sensitivity
EWZ.US
1.46
VS
EEM.US
0.96

Historical Trajectory

Growth of $10,000 Over 10 Years

Annual Returns Comparison

Performance Consistency

Rolling 12-Month Returns

Risk & Factor X-Ray AnalysisiAnalyzes downside volatility and macro factor exposures.

Historical Drawdowns

Return Correlation

57%
Pearson Correlation Coefficient

Low correlation. Holding both provides strong potential diversification benefits.

Risk X-Ray Macro Factor Exposure Mapping

EWZ.US Factor Exposure
EEM.US Factor Exposure

Fundamentals, Quality & IncomeiSide-by-side fundamental valuation, corporate health, and 10-year income generation.

Fundamentals Radar

Valuation & Quality Matrix

P/E Ratio
9.6
0.0
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 →
0
0
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 →
1.3
1.3
Market Cap
$34.1B
$0

10-Year Income Simulation ($10k)

Dividend YieldDividend YieldAnnual dividend paid per share divided by the current share price — expressed as a percentage income return.Click for full definition →
4.3%
0.0%
Total Income Gen
$0
$0

Momentum & Macro PositioningiCompares relative price trends, moving averages, and market sensitivity.

50-Day SMA

EWZ.US+8.9%
EEM.US+5.4%

200-Day SMA

EWZ.US+29.4%
EEM.US+15.1%

Beta (Market Risk)

EWZ.US1.46
EEM.US0.96

Frequently Asked Questions

How did EWZ.US compare to EEM.US historically?

EWZ.US and EEM.US performed comparably over the measured period. Neither clearly dominated across all risk and return metrics. The right choice depends on your individual investment goals, income needs, and risk tolerance.

What is the 10-year CAGR of EWZ.US vs EEM.US?

Over the 2016–2026 study period, EWZ.US produced an annualized return (CAGR) of 10.6% while EEM.US produced 9.0%. A ${10,000} investment in EWZ.US would have grown to approximately $26,328, compared to $22,761 for EEM.US.

What is the maximum drawdown of EWZ.US vs EEM.US?

EWZ.US experienced a peak-to-trough drawdown of 50.3% (2024 was its worst year at -30.4%), versus 36.5% for EEM.US (worst year 2022 at -20.6%). A smaller maximum drawdown indicates lower downside risk and is particularly important for investors close to or in retirement.

How correlated are EWZ.US and EEM.US?

EWZ.US and EEM.US have a Pearson return correlation of 57% over the study period. This low correlation means the two ETFs behave quite differently. Combining both could meaningfully reduce portfolio volatility relative to holding either alone.

Which ETF has a better Sharpe ratio — EWZ.US or EEM.US?

EWZ.US has a Sharpe ratio of 0.36 versus 0.33 for EEM.US. The Sharpe ratio measures return per unit of risk (volatility) relative to a risk-free rate. EWZ.US delivered better risk-adjusted returns over the study period. EWZ.US had annualized volatility of 31.6% vs 16.8% for EEM.US.

Which ETF pays a higher dividend — EWZ.US or EEM.US?

EWZ.US has a dividend yield of 4.26%, while EEM.US yields 0.00%. On a $10,000 investment, EWZ.US paid approximately $0 in cumulative income vs $0 for EEM.US over the study period. Income-focused investors should weigh dividend yield alongside total return (price appreciation + dividends), since a lower-yielding ETF can still produce superior total returns through capital gains.

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