The iShares MSCI Brazil Capped ETF is the largest Brazil-related U.S.-listed ETF on the market. The fund tracks large- and mid-sized companies in Brazil, including a heavy tilt toward financials at 36.5%, followed by consumer staples 15.6% and materials 13.8%. EWZ also includes big names like Itau Unibanco 11.7%, Banco Bradesco 8.6%, Ambev 8.3% and Vale 7.5%, among others.
The iShares MSCI Brazil Small-Cap ETF acts as the counterpart to EWZ, tracking small-cap Brazilian stocks. Unlike its large-cap counterpart, EWZS focuses on consumer discretionary 40.0%, utilities 13.6% and industrials 10.9%.
The VanEck Vectors Brazil Small-Cap ETF is also comprised of small-cap Brazilian companies, with similar sector tilts, including consumer discretionary 33.1%, utilities 16.3% and industrials 10.8%. When compared to EWZS, BRF has a slightly bigger tilt toward small-cap stocks or a less mid-sized stock exposure. Specifically, BRF holds 63.6% mid-caps and 33.3% small-caps while EWZS holds 69.9% mid-caps and 28.5% small-caps.
For more information on the Brazilian markets, visit our Brazil category.