If Oil Holds Above $90, EWZ Investors Are Going To Be In For A Wild Ride

"The iShares MSCI Brazil ETF (NYSEARCA:EWZ) has done the opposite. Shares are up 62% over the past year and have gained 18% in 2026 alone, making it one of the strongest-performing single-country equity funds available to U.S. investors right now. The fund tracks the MSCI Brazil 25/50 Index and gives investors broad exposure to Brazil's largest publicly traded companies."

"The portfolio is concentrated in three sectors: energy, materials, and financials. Vale, the iron ore mining giant, is the largest holding at 11%, followed by the fintech NU Holdings at 9% and Itau Unibanco at nearly 9%. Petrobras (NYSE:PBR), Brazil's state-controlled oil producer, holds a combined weight 12% across its two share classes."

"The single biggest macro driver for EWZ right now is crude oil. Petrobras contributes a large share of the fund's weight, and its profitability is directly tied to global oil prices. The recent move in WTI crude has been dramatic: prices surged to $94.65 per barrel as of March 9, up 33% in a single week and 48% over the prior month."

The iShares MSCI Brazil ETF (EWZ) has delivered exceptional returns of 62% over the past year and 18% in 2026, making it one of the strongest-performing single-country equity funds. With $9.7 billion in assets and a 0.59% expense ratio, EWZ tracks the MSCI Brazil 25/50 Index and provides broad exposure to Brazil's largest companies. The portfolio concentrates in energy, materials, and financials sectors, with Vale (11%), NU Holdings (9%), Itau Unibanco (9%), and Petrobras (12% combined) as top holdings. Bullish sentiment prevails among options traders and institutional managers. Crude oil prices serve as the primary macro driver, with WTI surging 48% over one month, directly benefiting Petrobras profitability and fund performance.

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