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 3 of 5 key metrics in this comparison. EWZ has delivered stronger 1-year price return (+27.45% vs +12.76% for VWO).
- 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 scorei | 69.0 | 62.0 |
| Latest closei | $37.74 | $59.91 |
| 1M returni | +11.99% | +0.45% |
| 6M returni | +4.38% | +11.06% |
| 1Y returni | +27.45% | +12.76% |
The ETF score weights long-term returns and risk-adjusted performance most heavily, but still rewards low expense ratios, larger fund size, and broader diversification — so it can favor low-cost, broad, mega-cap funds over smaller thematic or actively-managed funds even when the latter have delivered stronger returns.
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 | $13.34K (+33.4%) started 2025-09-17 | $11.57K (+15.7%) started 2025-09-17 |
| 5Y ago | $26.68K (+166.8%) started 2021-09-17 | $16.09K (+60.9%) started 2021-09-17 |
| 10Y ago | $37.31K (+273.1%) started 2016-09-19 | $29.06K (+190.6%) started 2016-09-19 |
Hypothetical — past performance does not guarantee future results.
| Metric | EWZ | VWO |
|---|---|---|
| Expense ratioi | 0.59% | 0.06% |
| Total assets (AUM)i | $8.17B | $168.36B |
| Dividend yieldi | 4.07% | 2.29% |
| Trailing P/Ei | 10.98 | 15.76 |
| Betai | 0.67 | 0.64 |
| 52-week change | 27.45% | 12.76% |
| Metric | EWZ | VWO |
|---|---|---|
| 1Y returni | +27.45% | +12.76% |
| 6M returni | +4.38% | +11.06% |
| 1M returni | +11.99% | +0.45% |
| 1Y Sharpe ratio | 0.91 | 0.52 |
| Betai | 0.67 | 0.64 |
| Dividend yieldi | 4.07% | 2.29% |
| 5Y CAGR | +10.85% | +6.36% |
Over the past year, EWZ and VWO have moved moderately in the same direction (correlation of 0.58), based on daily returns.
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 | Growthi | +27.45% | +12.76% |
| CAGRi | +27.48% | +12.77% | |
| Volatilityi | 25.24% | 17.61% | |
| Sharpe ratioi | 0.91 | 0.52 | |
| Sortino ratioi | 1.34 | 0.74 | |
| Max drawdowni | 19.27% | 11.17% | |
| Current drawdowni | 8.70% | 2.49% | |
| Avg drawdowni | 7.07% | 2.50% | |
| Ulcer Indexi | 9.21% | 3.49% | |
| Max daily dropi | 6.31% | 3.78% | |
| Max wkly dropi | 7.82% | 6.25% | |
| 5Y | Growthi | +67.36% | +36.08% |
| CAGRi | +10.85% | +6.36% | |
| Volatilityi | 27.22% | 17.51% | |
| Sharpe ratioi | 0.35 | 0.18 | |
| Sortino ratioi | 0.50 | 0.26 | |
| Max drawdowni | 32.24% | 30.20% | |
| Current drawdowni | 8.70% | 2.49% | |
| Avg drawdowni | 12.65% | 10.24% | |
| Ulcer Indexi | 14.80% | 12.92% | |
| Max daily dropi | 7.44% | 5.60% | |
| Max wkly dropi | 12.88% | 12.16% | |
| 10Y | Growthi | +92.64% | +112.37% |
| CAGRi | +6.78% | +7.83% | |
| Volatilityi | 33.82% | 19.11% | |
| Sharpe ratioi | 0.23 | 0.26 | |
| Sortino ratioi | 0.32 | 0.35 | |
| Max drawdowni | 56.99% | 36.39% | |
| Current drawdowni | 8.70% | 2.49% | |
| Avg drawdowni | 17.72% | 11.54% | |
| Ulcer Indexi | 21.17% | 14.55% | |
| Max daily dropi | 23.09% | 12.09% | |
| Max wkly dropi | 32.51% | 17.93% |
| Category | EWZ | VWO |
|---|---|---|
| Fund name | iShares MSCI Brazil ETF | Vanguard FTSE Emerging Markets Index Fund ETF Shares |
| Type | ETF | ETF |
| Expense ratioi | 0.59% | 0.06% |
| Total assets (AUM)i | $8.17B | $168.36B |
| Dividend yieldi | 4.07% | 2.29% |
- 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
Want deeper AI forecasts?
This comparison page is public and free forever. Subscribers can unlock saved watchlists, full AI rankings, detailed forecasts, and interactive analysis tools.