EWZ vs VWO Stock Comparison: AI Score, Valuation, Performance and Upside
EWZ provides concentrated, high-volatility single-country Brazil equity exposure, while VWO provides diversified global emerging markets exposure across dozens of countries. The choice between them is essentially a question of how specifically an investor wants to bet on Brazil versus a diversified emerging markets allocation.
EWZ vs VWO compares single-country Brazil concentration against diversified emerging markets breadth, illustrating the classic tradeoff between targeted country bets and diversified regional investing.
VWO holds the edge across 4 of 5 key metrics in this comparison. VWO has delivered stronger 1-year price return (+29.89% vs +25.51% for EWZ).
- →Want concentrated exposure to Brazilian equities and the Brazilian economy
- →Have a specific positive view on Brazil's commodity, energy, or financial sectors
- →Are comfortable with higher single-country volatility in exchange for targeted Brazil exposure
- →Want broad, diversified exposure to the developing world's equity markets in a single low-cost fund
- →Prefer to reduce single-country risk through diversification across 20+ emerging markets
- →Are building a core emerging markets allocation as part of a broader global equity portfolio
| Metric | EWZ | VWO |
|---|---|---|
| ETF score | 38.0 | 83.0 |
| Latest close | $33.73 | $60.77 |
| 1M return | -5.12% | +5.14% |
| 6M return | +10.21% | +16.77% |
| 1Y return | +25.51% | +29.89% |
How much would $10,000 be worth today if invested at the start of each period, with all dividends reinvested?
| Period | EWZ | VWO |
|---|---|---|
| 1Y ago | $13.13K (+31.3%) started 2025-06-18 | $13.37K (+33.7%) started 2025-06-18 |
| 5Y ago | $19.79K (+97.9%) started 2021-06-18 | $15.83K (+58.3%) started 2021-06-18 |
| 10Y ago | $39.66K (+296.6%) started 2016-06-20 | $32.79K (+227.9%) started 2016-06-20 |
Hypothetical — past performance does not guarantee future results.
| Metric | EWZ | VWO |
|---|---|---|
| Expense ratio | 0.59% | 0.06% |
| Total assets (AUM) | $10.17B | $162.82B |
| Dividend yield | 4.59% | 2.43% |
| Trailing P/E | 12.19 | 17.16 |
| Beta | 0.66 | 0.62 |
| 52-week change | 25.51% | 29.89% |
| Metric | EWZ | VWO |
|---|---|---|
| 1Y return | +25.51% | +29.89% |
| 6M return | +10.21% | +16.77% |
| 1M return | -5.12% | +5.14% |
| 1Y Sharpe ratio | 0.85 | 1.39 |
| Beta | 0.66 | 0.62 |
| Dividend yield | 4.59% | 2.43% |
| 5Y CAGR | +4.42% | +5.88% |
Lower drawdown and smaller single-period drops generally indicate a smoother ride, though they do not guarantee lower future risk.
| Period | Metric | EWZ | VWO |
|---|---|---|---|
| 1Y | Growth | +25.51% | +29.89% |
| CAGR | +25.53% | +29.91% | |
| Sharpe ratio | 0.85 | 1.39 | |
| Max drawdown | 19.27% | 11.17% | |
| Max daily drop | 6.31% | 3.78% | |
| Max wkly drop | 7.82% | 6.25% | |
| 5Y | Growth | +24.12% | +33.04% |
| CAGR | +4.42% | +5.88% | |
| Sharpe ratio | 0.13 | 0.16 | |
| Max drawdown | 32.24% | 32.60% | |
| Max daily drop | 7.44% | 5.60% | |
| Max wkly drop | 12.88% | 12.16% | |
| 10Y | Growth | +102.26% | +135.75% |
| CAGR | +7.30% | +8.96% | |
| Sharpe ratio | 0.25 | 0.31 | |
| Max drawdown | 56.99% | 36.39% | |
| Max daily drop | 23.09% | 12.09% | |
| Max wkly drop | 32.51% | 17.93% |
| Category | EWZ | VWO |
|---|---|---|
| Fund name | iShares MSCI Brazil ETF | Vanguard Emerging Markets Stock Index Fund |
| Type | ETF | ETF |
| Expense ratio | 0.59% | 0.06% |
| Total assets (AUM) | $10.17B | $162.82B |
| Dividend yield | 4.59% | 2.43% |
- →Direct, concentrated exposure to Brazil's equity market including its energy, financial, and mining majors
- →High liquidity with significant daily trading volume among single-country ETFs
- →Brazil's large commodity base provides natural resource exposure often absent from tech-heavy developed market portfolios
- →Among the largest and lowest-cost emerging markets ETFs, with competitive Vanguard expense ratios
- →Broad diversification across 20+ emerging market countries and thousands of stocks reduces single-country risk
- →Convenient single-fund access to both large-cap and mid-cap emerging market equities globally
- →Single-country concentration amplifies political risk, currency risk, and Brazil-specific economic volatility
- →Brazilian Real currency exposure creates significant USD-denominated return volatility
- →Brazil's economy is sensitive to commodity cycles, particularly oil and iron ore prices
- →China is typically the largest country weight (25-35% of the index), creating meaningful China risk even in a diversified product
- →Broader diversification means VWO will underperform EWZ when Brazil specifically outperforms
- →Emerging markets as a whole have historically been more volatile and delivered more variable returns than developed market equities
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