iShares MSCI Brazil Small-Cap ETF
ALTAR
Score™		 12.2% info Recommen-
dation		 SPECULATIVE
2025E    2026E
P/E
ratio		 9.6x P/Sales
ratio		 0.5x
P/BV
ratio		 0.9x Div.
yield		 4.4%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
iShares MSCI Brazil Small-Cap ETF is an exchange-traded fund incorporated in the USA. The ETF seeks to track the performance of the MSCI Brazil Small Cap Index Fund.

FUND BASICS
Category Emerging Market Equities
Fund Sponsor BlackRock Fund Advisors
Website www.ishares.com
Inception date Sep 28, 2010
Assets (mns) $226
Currency USD
Expense ratio 59 bp
Distributions Semi-annual

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian State Street Bank & Trust Co
Weighting Market Cap
Index replication Optimized
Uses derivatives No
Options available Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 71
Wgt avg mkt cap (mns) $1,393
Large cap (>$10bn) 1.4%
Mid cap ($2-10bn) 39.5%
Small cap (<$2bn) 52.8%
Developed mkts 9.1%
Emerging mkts 90.9%

TOP TEN HOLDINGS
CIA SANEAMENTO MINAS GERAIS 5.3 %
TOTVS SA 4.9 %
LOJAS RENNER S.A. 4.5 %
SENDAS DISTRIBUIDORA SA 3.6 %
ALLOS SA 3.6 %
MULTIPLAN EMPREENDIMENTOS 3.2 %
METALURGICA GERDAU SA-PREF 3.0 %
SMARTFIT ESCOLA DE GINASTICA E DAN 2.8 %
NATURA SA 2.6 %
BRAVA ENERGIA 2.5 %
Total 36.0 %

TOP COUNTRY EXPOSURE
BRAZIL 79.3 %
CAYMAN ISLANDS 1.2 %
CANADA 1.0 %








HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru July 31)
Year-to-date 1 year 5 years 10 years Since Incep.
3.2% 16.1% -2.3% 4.8% -1.1%

Market Correlations
versus... Beta R-squared
S&P500 1.36 32%
MSCI EAFE 1.33 46%
MSCI Emg. Mkts. 0.74 34%

Technical Indicators
Recent close $13.08
30d moving avg. $13.04
Annualized volatility 30.0%
Short interest (ETF) 3.1%
Relative strength (RSI) 48

Liquidity measures
Avg. volume (thou.) 128
Turnover 0.7%
Bid/Ask (% of price) 0.21%
ADV underlying (mns) $503

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 131 potential alternatives to the iShares MSCI Brazil Small-Cap ETF ETF based on the alternatives' overlap in portfolio holdings with EWZS. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: EWZS Expense: 59 bp ALTAR Score™: 12.2%


ALTERNATIVE ETFs BASED ON OVERLAP WITH EWZS
Ticker Fund
Name		 Overlap1
vs EWZS
(%)		 Expense
ratio
(bp)		 Savings
vs EWZS
(bp)		 ALTAR
Score™
(%)		 ALTAR
vs EWZS
(%)
SDIV Global X Superdividend ETF 10.5 58 1 13.6 +1.5
FEMS First Trust Emerging Markets Small Cap AlphaDEX Fund 8.5 80 -21 12.4 +0.2
JIVE JPMorgan International Value ETF 8.1 55 4 7.9 -4.3
DVYE iShares Emerging Markets Dividend ETF 6.3 49 10 17.6 +5.4
OTGL OTG Latin America ETF 5.8 269 -210 7.6 -4.5
FLBR Franklin FTSE Brazil ETF 4.5 19 40 11.9 -0.3
DGS WisdomTree Emerging Markets SmallCap Dividend Fund 3.8 58 1 8.5 -3.7
EYLD Cambria Emerging Shareholder Yield ETF 3.8 66 -7 9.0 -3.2
AVEE Avantis Emerging Markets Small Cap Equity ETF 3.3 42 17 7.8 -4.3
BRAZ Global X Brazil Active ETF 3.2 75 -16 10.2 -2.0
EEMS iShares MSCI Emerging Markets Small Cap ETF 2.8 70 -11 6.6 -5.6
FLLA Franklin FTSE Latin America ETF 2.6 19 40 10.6 -1.6
EWX SPDR S&P Emerging Markets Small Cap ETF 2.5 65 -6 6.7 -5.4
CGV Conductor Global Equity Value ETF 2.3 130 -71 7.7 -4.5
CGW Invesco S&P Global Water Index ETF 1.8 57 2 4.4 -7.8
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 1.6 59 0 8.5 -3.7
DEM WisdomTree Emerging Markets High Dividend Fund 1.5 63 -4 10.2 -2.0
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 1.4 44 15 9.3 -2.9
PIE Invesco Dorsey Wright Emerging Markets Momentum ETF 1.4 90 -31 3.6 -8.5
AQWA Global X Clean Water ETF 1.4 50 9 4.8 -7.3
EFRA iShares Environmental Infrastructure and Industrials ETF 1.3 47 12 4.9 -7.3
DTEC ALPS Disruptive Technologies ETF 1.1 50 9 3.4 -8.8
VIDI Vident International Equity Strategy ETF 1.1 61 -2 8.2 -4.0
PBW Invesco WilderHill Clean Energy ETF 1.0 66 -7 -3.0 -15.2
LITP Sprott Lithium Miners ETF 1.0 65 -6 1.3 -10.9
ILIT iShares Lithium Miners and Producers ETF 1.0 47 12 4.2 -7.9
ION ProShares S&P Global Core Battery Metals ETF 1.0 58 1 6.5 -5.7
REMX VanEck Rare Earth/Strategic Metals ETF 1.0 54 5 3.4 -8.7
UEVM VictoryShares Emerging Markets Value Momentum ETF 1.0 45 14 9.4 -2.7
SURE AdvisorShares Insiders Advantage ETF 0.9 90 -31 7.3 -4.9
FDLS Inspire Fidelis Multi Factor ETF 0.9 76 -17 3.0 -9.2
DEXC Dimensional Emerging Markets ex China Core EquityETF 0.8 53 6 5.1 -7.0
WOOD iShares Global Timber & Forestry ETF 0.8 42 17 10.6 -1.5
IPAY ETFMG Prime Mobile Payments ETFMG Prime Mobile Payments Fund 0.8 75 -16 5.6 -6.6
PSP Invesco Global Listed Private Equity ETF 0.7 106 -47 6.3 -5.8
DFSE Dimensional Emerging Markets Sustainability Core 1 ETF 0.7 41 18 6.9 -5.3
AVES Avantis Emerging Markets Value ETF 0.7 36 23 9.0 -3.2
AVSE Avantis Responsible Emerging Markets Equity ETF 0.7 33 26 6.6 -5.6
EMC Global X Emerging Markets Great Consumer ETF 0.7 75 -16 7.1 -5.1
ECOW Pacer Emerging Markets Cash Cows 100 ETF 0.6 70 -11 9.2 -2.9
FMQQ FMQQ The Next Frontier Internet & Ecommerce ETF 0.6 86 -27 0.2 -12.0
XCNY SPDR S&P Emerging Markets ex-China ETF 0.6 15 44 5.6 -6.6
AVXC Avantis Emerging Markets Ex-China Equity ETF 0.6 33 26 6.1 -6.1
DFEM Dimensional Emerging Markets Core Equity 2 ETF 0.6 38 21 7.0 -5.1
XC WisdomTree Emerging Markets Ex-China Fund 0.6 32 27 6.3 -5.9
GRID First Trust Nasdaq Clean Edge Smart GRID Infrastructure 0.6 58 1 3.5 -8.7
VSS Vanguard FTSE All-World ex-US Small-Cap ETF 0.6 8 51 6.3 -5.8
PSC Principal U.S. Small-Cap ETF 0.5 38 21 3.4 -8.7
CVY Invesco Zacks Multi-Asset Income ETF 0.5 106 -47 9.6 -2.6
RWX SPDR Dow Jones International Real Estate ETF 0.5 59 0 6.9 -5.3
ROAM Hartford Multifactor Emerging Markets ETF 0.5 44 15 7.5 -4.6
CARZ First Trust NASDAQ Global Auto Index Fund 0.4 70 -11 2.4 -9.8
AFSM First Trust Active Factor Small Cap ETF 0.4 75 -16 5.3 -6.9
BSVO EA Bridgeway Omni Small-Cap Value ETF 0.4 47 12 7.1 -5.1
DEEP Roundhill Acquirers Deep Value ETF 0.4 80 -21 14.5 +2.3
QCLN First Trust Nasdaq Clean Edge Green Energy Index Fund 0.4 58 1 -1.9 -14.1
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 0.4 39 20 13.3 +1.1
VWO Vanguard FTSE Emerging Markets ETF 0.4 7 52 9.0 -3.1
AVEM Avantis Emerging Markets Equity ETF 0.4 33 26 7.0 -5.1
SETM Sprott Energy Transition Materials ETF 0.4 65 -6 1.9 -10.3
DFEV Dimensional Emerging Markets Value ETF 0.4 43 16 9.4 -2.8
PICK iShares MSCI Global Metals & Mining Producers ETF 0.4 39 20 8.1 -4.1
PXH Invesco FTSE RAFI Emerging Markets ETF 0.4 49 10 13.1 +0.9
IEMG iShares Core MSCI Emerging Markets ETF 0.3 9 50 8.2 -4.0
CUT Invesco MSCI Global Timber ETF 0.3 61 -2 7.7 -4.5
RNEM First Trust Emerging Markets Equity Select ETF 0.3 75 -16 7.7 -4.4
DFAE Dimensional Emerging Core Equity Market ETF 0.3 35 24 7.0 -5.2
EDIV SPDR S&P Emerging Markets Dividend ETF 0.3 49 10 8.8 -3.3
HAUZ DBX ETF Trust - Xtrackers International Real Estate ETF 0.3 10 49 8.4 -3.8
VEXC Vanguard Emerging Markets Ex-China ETF 0.3 7 52 5.6 -6.5
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 0.3 50 9 8.2 -4.0
FINX Global X FinTech ETF 0.3 68 -9 2.8 -9.4
FTAG First Trust Indxx Global Agriculture ETF 0.3 70 -11 7.0 -5.1
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 0.3 95 -36 9.7 -2.5
SPEM SPDR Portfolio Emerging Markets ETF 0.3 7 52 9.4 -2.8
VEGI iShares MSCI Agriculture Producers ETF 0.2 39 20 7.6 -4.6
DFAX Dimensional World ex U.S. Core Equity 2 ETF 0.2 30 29 6.3 -5.9
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 0.2 32 27 7.5 -4.7
ERTH Invesco MSCI Sustainable Future ETF 0.2 62 -3 3.2 -9.0
LIT Global X Lithium & Battery Tech ETF 0.2 75 -16 5.6 -6.6
EMQQ EMQQ The Emerging Markets Internet & Ecommerce ETF 0.2 86 -27 12.3 +0.1
NFRA FlexShares STOXX Global Broad Infrastructure Index Fund 0.2 47 12 5.0 -7.2
OMFS Invesco Russell 2000 Dynamic Multifactor ETF 0.2 39 20 3.3 -8.8
SCHE Schwab Emerging Markets Equity ETF 0.2 11 48 9.3 -2.9
VNQI Vanguard Global ex-U.S. Real Estate ETF 0.2 12 47 8.4 -3.8
IPKW Invesco International BuyBack Achievers ETF 0.2 55 4 7.7 -4.5
CCSO Carbon Collective Climate Solutions US Equity ETF 0.1 35 24 0.9 -11.2
GUNR FlexShares Morningstar Global Upstream Natural Resources Ind 0.1 46 13 7.9 -4.3
FLQS Franklin U.S. Small Cap Multifactor Index ETF 0.1 35 24 5.6 -6.6
VSGX Vanguard ESG International Stock ETF 0.1 10 49 6.4 -5.7
GINN Goldman Sachs Innovate Equity ETF 0.1 52 7 3.6 -8.6
XCEM Columbia EM Core ex-China ETF 0.1 16 43 5.0 -7.2
RWO SPDR Dow Jones Global Real Estate ETF 0.1 50 9 6.1 -6.1
IXUS iShares Core MSCI Total International Stock ETF 0.1 7 52 6.4 -5.7
IWN iShares Russell 2000 Value ETF 0.1 24 35 4.4 -7.7
VXUS Vanguard Total International Stock ETF 0.1 5 54 6.5 -5.7
VTWV Vanguard Russell 2000 Value ETF 0.1 10 49 4.6 -7.6
DEHP Dimensional Emerging Markets High Profitability ETF 0.1 41 18 4.8 -7.3
GSSC Goldman Sachs Activebeta U.S. Small Cap Equity ETF 0.1 20 39 3.7 -8.5
IWM iShares Russell 2000 ETF 0.1 19 40 2.5 -9.7
RSSL Global X Russell 2000 ETF 0.1 8 51 2.5 -9.6
VTWO Vanguard Russell 2000 ETF 0.1 7 52 2.6 -9.6
VYMI Vanguard International High Dividend Yield ETF 0.1 17 42 7.7 -4.5
VFVA Vanguard U.S. Value Factor ETF 0.1 13 46 8.6 -3.6
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 0.1 32 27 4.7 -7.4
JEMA JPMorgan ActiveBuilders Emerging Markets Equity ETF 0.1 33 26 6.7 -5.5
EMCR Xtrackers Emerging Markets Carbon Reduction and Climate Impr 0.1 15 44 8.8 -3.4
VEU Vanguard FTSE All-World ex-US Index Fund 0.1 4 55 6.5 -5.6
GWX SPDR S&P International Small Cap ETF 0.0 40 19 5.9 -6.3
IWO iShares Russell 2000 Growth ETF 0.0 24 35 0.5 -11.7
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.0 9 50 4.7 -7.4
VTWG Vanguard Russell 2000 Growth ETF 0.0 10 49 0.6 -11.6
KOMP State Street SPDR S&P Kensho New Economies Composite ETF 0.0 20 39 0.8 -11.4
VT Vanguard Total World Stock ETF 0.0 6 53 4.9 -7.3
WRND IQ Global Equity R&D Leaders ETF 0.0 18 41 3.9 -8.2
SMMD iShares Russell 2500 ETF 0.0 15 44 5.2 -6.9
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 0.0 36 23 7.5 -4.6
DNL WisdomTree Global ex-US Quality Dividend Growth Fund 0.0 42 17 4.0 -8.2
BKEM BNY Mellon Emerging Markets Equity ETF 0.0 11 48 24.0 +11.9
DEW WisdomTree Global High Dividend Fund 0.0 58 1 6.9 -5.2
NANR SPDR S&P North American Natural Resources ETF 0.0 35 24 6.4 -5.8
SFGV Sequoia Global Value ETF 0.0 23 36 6.9 -5.3
GXUS Goldman Sachs MarketBeta Total International Equity ETF 0.0 18 41 6.2 -6.0
ECON Columbia Emerging Markets Consumer ETF 0.0 49 10 6.6 -5.6
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 0.0 41 18 5.8 -6.4
PRFZ Invesco FTSE RAFI US 1500 Small-Mid ETF 0.0 39 20 2.1 -10.1
VYM Vanguard High Dividend Yield Index ETF 0.0 6 53 5.9 -6.3
IWV iShares Russell 3000 ETF 0.0 20 39 3.9 -8.3
ESGV Vanguard ESG U.S. Stock ETF 0.0 9 50 4.0 -8.1
VTHR Vanguard Russell 3000 ETF 0.0 7 52 4.0 -8.2
ONEQ Fidelity Nasdaq Composite Index ETF 0.0 21 38 2.9 -9.3

1Overlap is the percentage of holdings by weight that are identical. For example, if Fund A has a 2% position in Apple, Inc. (AAPL) and Fund B has a 5% position, their overlapping position in AAPL is 2%.

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RESULTS & ESTIMATES

  2020 2021 2022 2023 2024 2025E 2026E
Sales per share ** ** ** ** ** ** **
Earnings per share ** ** ** ** ** ** **
Dividends per share info ** ** ** ** ** ** **
Book value per share ** ** ** ** ** ** **

 

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

OTHER FUNDAMENTAL METRICS

Long term EPS growth est. **%   Debt-to-equity **x
Asset turnover **%   Assets-to-equity **x

Return on equity

Revision activity*
*Six months ago = 100

Net margins

Compound annual growth rates

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VALUATION METRICS
  2024 2025E 2026E
Price-to-sales ** ** **
Price-to-earnings ** ** **
Price-to-cash flow ** ** **
Price-to-growth ** ** **
Price-to-book value ** ** **
Yield ** ** **

Historical valuation trends

Forward
multiple:		 iShares MSCI Brazil Small-Cap ETF
Relative
to:		 S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

SPECULATIVE
Deeply undervalued but risky. A rating of SPECULATIVE is assigned to ETFs with ALTAR Scores in the top quintile (the top 20%) of their category, indicating exceptional appreciation potential. However, often these are narrowly-focused funds or in industries with structural issues, which may also make them very risky. Nonetheless they may still be useful as part of a well-diversified portfolio.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 10.6 %
Divided by: Fwd. P/BV 0.8 x
Less: Expense ratio 59 bp
Equals: ALTAR Score 12.2 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.62 CATEGORY
AVERAGE		 1.52
 
The composite rating is a weighted average of analysts' consensus recommendations for individual ETF constituents, based on the following scale:

BUY = 1; OVERWEIGHT = 1.5, HOLD = 2; UNDERWEIGHT = 2.5; and SELL = 3.

Readers are cautioned that because analyst ratings tend to be inflated, the composite score may be more useful as a relative measure of sentiment between funds rather than as a stand-alone recommendation.
 

 

See RATING tab for calculation of ALTAR Score™
Risk & reward. Uses std. dev. as proxy for risk, ALTAR Score™ for return forecast.
Dividends paid by constituents to the fund. May differ from actual distributions to shareholders due to constituent changes, timing issues or other factors.
Monthly returns based on changes in price plus dividends. May differ from daily returns reported by funds. See below for standardized returns.