iShares MSCI Brazil Small-Cap ETF (EWZS) Performance
EWZS total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +30.8% since Dec 31, 2025
- 1 year
- +28.9% total return
- 5 years
- +7.1% a year
- 10 years
- +6.2% a year
- Since first price
- +0.4% a year since 2010
EWZS trailing returns vs SPY, QQQ, AGG
| Period | EWZS total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | +26.3% | +26.3% | −1.0% | −5.0% | +0.9% |
| 3 months | +29.2% | +29.2% | +3.2% | +1.9% | −0.4% |
| 6 months | +9.7% | +8.6% | +7.8% | +8.4% | −1.5% |
| YTD | +30.8% | +29.5% | +12.3% | +15.1% | −1.0% |
| 1 year | +28.9% | +24.1% | +14.4% | +15.9% | −1.1% |
| 3 years | +49.0%+14.2%/yr | +34.0% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +40.9%+7.1%/yr | +16.7% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| 10 years | +83.3%+6.2%/yr | +29.5% | +315.9%+15.3%/yr | +538.9%+20.4%/yr | +14.0%+1.3%/yr |
| 15 years | +16.0%+1.0%/yr | −27.8% | +696.0%+14.8%/yr | +1,299.3%+19.2%/yr | +32.2%+1.9%/yr |
| Since inceptionSep 29, 2010 | +6.1%+0.4%/yr | −35.1% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: EWZS vs SPY
From Sep 29, 2010: EWZS grew to $10,609, SPY to $87,923.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
EWZS returns by calendar year
6 of 15 full years positive. Best 2016 (+65.9%), worst 2015 (−50.4%). 2026 is year to date.
EWZS annual returns table
| Year | EWZS | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +30.8% | −26.6% | +12.3% | +15.1% | −1.0% |
| 2025 | +45.2% | −12.4% | +17.7% | +20.8% | +7.2% |
| 2024 | −35.9% | −34.8% | +24.9% | +25.6% | +1.3% |
| 2023 | +32.6% | −22.1% | +26.2% | +54.9% | +5.7% |
| 2022 | −11.2% | −36.4% | −18.2% | −32.6% | −13.0% |
| 2021 | −14.1% | −38.0% | +28.7% | +27.4% | −1.8% |
| 2020 | −20.9% | −63.1% | +18.3% | +48.6% | +7.5% |
| 2019 | +50.6% | −18.1% | +31.2% | +39.0% | +8.5% |
| 2018 | −6.7% | −37.5% | −4.6% | −0.1% | +0.1% |
| 2017 | +54.2% | −19.6% | +21.7% | +32.7% | +3.6% |
| 2016 | +65.9% | −20.7% | +12.0% | +7.1% | +2.4% |
| 2015 | −50.4% | −50.7% | +1.2% | +9.4% | +0.5% |
| 2014 | −26.1% | −37.5% | +13.5% | +19.2% | +6.0% |
| 2013 | −27.4% | −34.8% | +32.3% | +36.6% | −2.0% |
| 2012 | +28.4% | −24.3% | +16.0% | +18.1% | +3.8% |
| 2011 | −23.8% | −34.4% | +1.9% | +3.4% | +7.7% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
EWZS largest drawdowns
Now 13.6% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Apr 26, 2011 | −79.2% | Jan 21, 2016 | not yet | 4.7 years | 15.5 years so far |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
EWZS risk statistics
| Statistic | 3 years | 5 years | 10 years | Since 2010 |
|---|---|---|---|---|
| Annualized return | +3.5% | +0.1% | +4.9% | −1.1% |
| Volatility (annualized) | 26.4% | 30.3% | 34.3% | 33.5% |
| Sharpe ratio | 0.09 | 0.04 | 0.26 | 0.10 |
| Sortino ratio | 0.14 | 0.05 | 0.37 | 0.14 |
| Best month | +14.7% | +16.9% | +25.1% | +27.1% |
| Worst month | −11.2% | −22.8% | −46.1% | −46.1% |
| Best 12 months | +62.4% | +62.4% | +70.5% | +116.7% |
| Worst 12 months | −35.9% | −35.9% | −38.0% | −59.3% |
| Positive months | 56% | 55% | 54% | 49% |
| Beta vs S&P 500 | 0.52 | 0.74 | 0.97 | — |
| Correlation with S&P 500 | 0.25 | 0.38 | 0.43 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
EWZS rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 182 | −59.3% | −2.3% | +116.7% | 46% |
| 3-year (a year) | 158 | −37.9% | −1.7% | +44.0% | 46% |
| 5-year (a year) | 134 | −23.9% | −0.5% | +23.4% | 47% |
| 10-year (a year) | 74 | −5.9% | −1.0% | +12.8% | 39% |
Every holding period starting at a month-end since 2010. Returns for 3 years and longer are annualized.
EWZS performance overview
iShares MSCI Brazil Small-Cap ETF (EWZS) returned +28.9% over the past year and +6.2% a year over ten years, with distributions reinvested. Since its first recorded price in 2010 it has returned +0.4% a year, turning $10,000 into about $10,609. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −79.2%, from Apr 26, 2011 to Jan 21, 2016; the fund has not yet regained that high. EWZS finished 6 of its 15 full calendar years with a gain; the best year was 2016 (+65.9%) and the worst 2015 (−50.4%). Volatility has been 33.5% a year.
Related: EWZS chart, EWZS holdings, EWZS dividends. See the EWZS overview for the latest quote and fund facts.
EWZS performance FAQ
What is the EWZS return over the past year?
EWZS returned +28.9% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 24.1%.
What is the average annual return of EWZS?
EWZS has returned +7.1% a year over 5 years, +6.2% a year over 10 years, +0.4% a year since September 29, 2010 (total return, distributions reinvested).
How much would $10,000 invested in EWZS be worth?
$10,000 invested in EWZS at its first recorded close on September 29, 2010 would be worth about $10,609 on October 23, 2026 with distributions reinvested.
What was the worst year for EWZS?
The worst calendar year was 2015, with a total return of −50.4%. The best was 2016 at +65.9%.
What is the biggest drawdown of EWZS?
The largest peak-to-trough decline was −79.2% between April 26, 2011 and January 21, 2016. It has not yet recovered to that high; it is 13.6% below its peak.
How volatile is EWZS?
Over the past 3 years EWZS had an annualized volatility of 26.4% and a Sharpe ratio of 0.09 (excess return over 1–3 month T-bills per unit of risk).