4BRZ.DE vs. AMEL.DE
4BRZ.DE (iShares MSCI Brazil UCITS ETF (DE) USD (Acc)) and AMEL.DE (Amundi MSCI Emerging Markets Latin America UCITS ETF EUR) are both Latin America Equities funds - 4BRZ.DE tracks the MSCI Brazil 25/50 Index while AMEL.DE tracks the MSCI Emerging Markets Latin America. Both are passively managed. Over the past 5 years, 4BRZ.DE returned 5.24%/yr vs 9.01%/yr for AMEL.DE. Their correlation of 0.93 suggests significant overlap in exposure. 4BRZ.DE charges 0.31%/yr vs 0.20%/yr for AMEL.DE.
Performance
4BRZ.DE vs. AMEL.DE - Performance Comparison
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Different Trading Currencies
4BRZ.DE is traded in USD, while AMEL.DE is traded in EUR. To make them comparable, the AMEL.DE values have been converted to USD using the latest available exchange rates.
Returns By Period
The year-to-date returns for both investments are quite close, with 4BRZ.DE having a 10.78% return and AMEL.DE slightly higher at 10.88%.
4BRZ.DE
- 1D
- 1.19%
- 1M
- 1.17%
- 6M
- 9.79%
- YTD
- 10.78%
- 1Y
- 25.26%
- 3Y*
- 8.77%
- 5Y*
- 5.24%
- 10Y*
- —
AMEL.DE
- 1D
- 0.47%
- 1M
- 0.51%
- 6M
- 11.15%
- YTD
- 10.88%
- 1Y
- 30.01%
- 3Y*
- 11.67%
- 5Y*
- 9.01%
- 10Y*
- 7.34%
4BRZ.DE vs. AMEL.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
4BRZ.DE iShares MSCI Brazil UCITS ETF (DE) USD (Acc) | 10.78% | 48.47% | -29.92% | 32.87% | 14.05% | -19.58% | -19.46% | 28.48% | -1.96% |
AMEL.DE Amundi MSCI Emerging Markets Latin America UCITS ETF EUR | 10.88% | 55.85% | -26.65% | 32.20% | 9.92% | -10.88% | -13.56% | 18.15% | -3.19% |
Correlation
The correlation between 4BRZ.DE and AMEL.DE is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.93 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.90 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.92 |
Correlation (All Time) Calculated using the full available price history since Oct 25, 2018 | 0.93 |
The correlation between 4BRZ.DE and AMEL.DE has been stable across timeframes, ranging from 0.90 to 0.93 - a consistent structural relationship.
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Return for Risk
4BRZ.DE vs. AMEL.DE — Risk / Return Rank
4BRZ.DE
AMEL.DE
4BRZ.DE vs. AMEL.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Brazil UCITS ETF (DE) USD (Acc) (4BRZ.DE) and Amundi MSCI Emerging Markets Latin America UCITS ETF EUR (AMEL.DE). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| 4BRZ.DE | AMEL.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.37 | ||
| Sortino ratioReturn per unit of downside risk | -0.46 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.25 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 1.29 | 1.98 | -0.69 |
| Martin ratioReturn relative to average drawdown | 3.45 | 5.38 | -1.93 |
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Drawdowns
4BRZ.DE vs. AMEL.DE - Drawdown Comparison
The maximum 4BRZ.DE drawdown since its inception was -57.20%, smaller than the maximum AMEL.DE drawdown of -61.57%. Use the drawdown chart below to compare losses from any high point for 4BRZ.DE and AMEL.DE.
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Drawdown Indicators
| 4BRZ.DE | AMEL.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -57.20% | -61.57% | +4.37% |
Max Drawdown (1Y)Largest decline over 1 year | -19.49% | -15.11% | -4.38% |
Max Drawdown (3Y)Largest decline over 3 years | -30.79% | -27.01% | -3.78% |
Max Drawdown (5Y)Largest decline over 5 years | -32.39% | -28.52% | -3.87% |
Max Drawdown (10Y)Largest decline over 10 years | — | -54.94% | — |
Current DrawdownCurrent decline from peak | -15.72% | -11.17% | -4.55% |
Average DrawdownAverage peak-to-trough decline | -18.87% | -26.29% | +7.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.13% | 5.44% | +1.69% |
Volatility
4BRZ.DE vs. AMEL.DE - Volatility Comparison
iShares MSCI Brazil UCITS ETF (DE) USD (Acc) (4BRZ.DE) has a higher volatility of 7.07% compared to Amundi MSCI Emerging Markets Latin America UCITS ETF EUR (AMEL.DE) at 6.16%. This indicates that 4BRZ.DE's price experiences larger fluctuations and is considered to be riskier than AMEL.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| 4BRZ.DE | AMEL.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.07% | 6.16% | +0.91% |
Volatility (6M)Calculated over the trailing 6-month period | 18.51% | 17.10% | +1.41% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.57% | 20.72% | +2.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 27.42% | 22.52% | +4.90% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 33.15% | 26.16% | +6.99% |
4BRZ.DE vs. AMEL.DE - Expense Ratio Comparison
4BRZ.DE has a 0.31% expense ratio, which is higher than AMEL.DE's 0.20% expense ratio.
Dividends
4BRZ.DE vs. AMEL.DE - Dividend Comparison
Neither 4BRZ.DE nor AMEL.DE has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.93, 4BRZ.DE and AMEL.DE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, AMEL.DE is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
AMEL.DE is cheaper with a 0.20% expense ratio, compared with 0.31% for 4BRZ.DE.
4BRZ.DE tracks MSCI Brazil 25/50 Index, while AMEL.DE tracks MSCI Emerging Markets Latin America. They also come from different issuers: iShares and Amundi. Their fees differ too: 0.31% for 4BRZ.DE and 0.20% for AMEL.DE.
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