EWZS Fees and Costs — iShares MSCI Brazil Small-Cap ETF
Data updated: 2026-07-27
The net expense ratio is 0.59%. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $135K in broker commissions, 0.0979% of average net assets, and portfolio turnover was 82%.
EWZS Fees and Expenses
Annual operating expenses and sales charges of EWZS. Prospectus, as of August 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.59% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.59% |
| Fee waiver | — |
| Net expense ratio | 0.59% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | No |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
EWZS Costs Over Time
On $10,000 invested in EWZS, assuming 5% a year before costs, total costs come to $433 over 5 years, cutting the return by 0.72% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 0.59%) | $62 | $194 | $337 |
| Trading costs (broker commissions) | $10 | $32 | $56 |
| Lost growth on money paid in costs | $0 | $11 | $40 |
| Total costs | $72 | $237 | $433 |
| Value after costs | $10,428 | $11,339 | $12,330 |
| Impact on return, per year | 0.72% | 0.72% | 0.72% |
EWZS Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending August 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0979%
- Total broker commissions: $135K
- Bought from dealers (principal trades, not a cost): $67.1M
- Portfolio turnover (prospectus): 82%
- Securities on loan, average value: $2.1M
- Net income from securities lending: $174K (0.125% of average net assets)
EWZS Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $43K | 32.22% |
| BTG Pactual US Capital, LLC | $24K | 17.89% |
| BofA Securities, Inc. | $20K | 14.90% |
| Goldman Sachs & Co. LLC | $18K | 13.33% |
| Citigroup Global Markets Inc. | $14K | 10.48% |
| Morgan Stanley & Co. LLC | $11K | 8.35% |
| Santander Securities LLC | $2K | 1.28% |
| Agora Corretora de Titulos e Valores Mobiliarios S.A. | $1K | 1.00% |
| BMO Capital Markets Corp. | $493 | 0.37% |
| Cantor Fitzgerald & Co. | $251 | 0.19% |
EWZS Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BlackRock Funds III - BlackRock Cash Funds: Treasury | $46.5M | 69.36% |
| J.P. Morgan Securities LLC | $14.1M | 20.99% |
| BofA Securities, Inc. | $5.8M | 8.60% |
| Goldman Sachs & Co. LLC | $703K | 1.05% |
| Agora Corretora de Titulos e Valores Mobiliarios S.A. | $6 | 0.00% |
| BTG Pactual US Capital, LLC | $0 | 0.00% |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.