Brazil's iShares MSCI ETF rated Buy amid cheaper valuations and steady dividends despite slower rate cuts.

The iShares MSCI Brazil ETF (EWZ) is rated as a Buy due to Brazil's market becoming cheaper following election-related sell-offs. The Ibovespa index trades at about 8 times projected earnings, below its historical average of 10.4 times, and EWZ offers a 4.5% dividend yield. The ETF is heavily weighted in banks and commodities, which make up nearly 60% of its holdings. Key risks include fiscal policy uncertainty, a weaker Brazilian real, and falling commodity prices. The analyst sees potential upside of up to 30%, with a bear case downside of 13%, maintaining a positive medium- to long-term outlook despite slower-than-expected interest rate declines.

As of Nov 15, 2026 15:21 WIB, the iShares MSCI Brazil ETF (EWZ) trades at USD 32.23 on Pluang, showing a 1.42% increase over the past day. The ETF has a market capitalization of $8.85 billion and a typical holding period of 49 days among Pluang investors. This current trading activity highlights ongoing interest in Brazilian equities despite concerns about fiscal policy and commodity prices.