EWZ vs IEMG: Holdings Overlap
iShares · 47 holdings · $9.2B · as of 2026-05-31
IEMGiShares Core MSCI Emerging Markets ETF
iShares · 2697 holdings · $156.6B · as of 2026-05-31
How similar are EWZ and IEMG?
iShares MSCI Brazil ETF (EWZ, by iShares) holds 47 positions; iShares Core MSCI Emerging Markets ETF (IEMG, by iShares) holds 2697. They have 46 holdings in common, and by portfolio weight the two funds are 3.4% identical. In practical terms the pair is essentially distinct, holding almost none of the same securities.
- Overlap by Weight
- 3.4%Sum of the smaller weight of each shared holding
- Shared Holdings
- 46EWZ holds 47 · IEMG holds 2697
- Weight in Shared Holdings
- EWZ 99%·IEMG 3%Share of each fund's weight in stocks both funds own
Based on each fund's latest official holdings. How is this calculated?
What makes each fund different
Only in EWZ
1 of 47 positions (0.2% of the fund) are not held by IEMG.
- BRAZIALIAN REAL0.21%
Only in IEMG
2651 of 2697 positions (96.3% of the fund) are not held by EWZ. Showing the top 30 by weight.
Sector Breakdown
| Sector | EWZ | IEMG |
|---|---|---|
| Information Technology | 0.0% | 36.2% |
| Financials | 32.2% | 11.0% |
| Energy | 14.0% | 2.3% |
| Materials | 11.5% | 2.9% |
| Utilities | 8.1% | 0.8% |
| Other Sectors | 9.3% | 15.9% |
| Unclassified | 23.9% | 30.7% |
Share of each fund's portfolio weight by GICS-style sector, compiled from issuer fund data and our own classification of the holdings, not the issuers' published sector charts. “Unclassified” is weight we could not classify (24% of EWZ, 31% of IEMG).
Performance
| Fund | 1M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) | 10Y (ann.) | Yield |
|---|---|---|---|---|---|---|---|
| EWZ | +2.0% | +12.3% | +31.6% | +9.6% | +6.8% | +5.7% | 4.14% |
| IEMG | +0.3% | +19.9% | +33.4% | +20.1% | +7.8% | +9.0% | 2.25% |
Total returns including dividends, from adjusted daily closes as of 2026-08-07. 3Y/5Y/10Y are annualized. Yield is trailing-12-month distributions over the last close. Past performance does not predict future results.
Project the growth of $10,000 in EWZ vs IEMG →
Shared Holdings(46)
The top 10 shared positions account for 61% of the overlap, led by VALE3, NU and ITUB4.
 VALE3Vale SA | 11.50% | 0.41% | 0.41% |
|---|---|---|---|
 NUNU Holdings Ltd/Cayman Islands | 8.71% | 0.31% | 0.31% |
 ITUB4Itau Unibanco Holding SA | 8.48% | 0.29% | 0.29% |
 PETR4Petroleo Brasileiro SA - Petrobras | 7.28% | 0.26% | 0.26% |
 PETR3Petroleo Brasileiro SA - Petrobras | 6.70% | 0.24% | 0.24% |
 BBDC4Banco Bradesco SA | 3.33% | 0.13% | 0.13% |
 B3SA3B3 SA - Brasil Bolsa Balcao | 3.57% | 0.12% | 0.12% |
 ABEV3Ambev SA | 3.19% | 0.10% | 0.10% |
 ITSA4Itausa SA | 2.62% | 0.10% | 0.10% |
 WEGE3Weg SA COM NPV | 3.05% | 0.10% | 0.10% |
 SBSP3Cia de Saneamento Basico do Estado de Sao Paulo SABESP | 2.87% | 0.09% | 0.09% |
 BPAC11Banco BTG Pactual SA | 2.68% | 0.09% | 0.09% |
 AXIA3Axia Energia SA | 2.64% | 0.08% | 0.08% |
 EMBJ3Embraer SA | 2.15% | 0.07% | 0.07% |
 PRIO3PRIO SA/Brazil | 2.16% | 0.07% | 0.07% |
 EQTL3Equatorial SA | 1.94% | 0.06% | 0.06% |
 RENT3Localiza Rent a Car SA | 1.65% | 0.05% | 0.05% |
 BBAS3Banco do Brasil SA | 1.47% | 0.05% | 0.05% |
 XPXP, Inc., Class A | 1.31% | 0.04% | 0.04% |
 VBBR3Vibra Energia SA | 1.40% | 0.04% | 0.04% |
 GGBR4Gerdau SA | 1.30% | 0.04% | 0.04% |
 CPLE3Cia Paranaense de Energia - Copel | 0.75% | 0.04% | 0.04% |
 SUZB3Suzano SA | 1.25% | 0.04% | 0.04% |
 RDOR3Rede D'Or Sao Luiz SA | 1.17% | 0.04% | 0.04% |
 VIVT3Telefonica Brasil SA | 1.20% | 0.04% | 0.04% |
Frequently Asked Questions
How much do EWZ and IEMG overlap?
EWZ and IEMG overlap by 3.4% of portfolio weight. They share 46 holdings (EWZ holds 47 positions and IEMG holds 2697), based on each fund's latest SEC-reported holdings.
Is it redundant to own both EWZ and IEMG?
The two portfolios are 3.4% identical by weight. Owning both is genuine diversification: the funds hold almost none of the same securities.
What are the biggest shared holdings of EWZ and IEMG?
The largest positions held by both funds are VALE3, NU, ITUB4, PETR4 and PETR3. Together the top 10 shared positions account for 61% of the total overlap.
What does EWZ own that IEMG doesn't?
1 positions (0.2% of EWZ) are unique to EWZ, led by BRAZIALIAN REAL. In the other direction, 2651 positions (96.3% of IEMG) are unique to IEMG.