4BRZ.DE vs. FLXB.DE
4BRZ.DE (iShares MSCI Brazil UCITS ETF (DE) USD (Acc)) and FLXB.DE (Franklin FTSE Brazil UCITS ETF) are both Latin America Equities funds - 4BRZ.DE tracks the MSCI Brazil 25/50 Index while FLXB.DE tracks the FTSE Brazil 30/18 Capped. Both are passively managed. Over the past 5 years, 4BRZ.DE returned 5.24%/yr vs 5.90%/yr for FLXB.DE. With a 0.96 correlation, they move nearly in lockstep. 4BRZ.DE charges 0.31%/yr vs 0.19%/yr for FLXB.DE.
Performance
4BRZ.DE vs. FLXB.DE - Performance Comparison
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Different Trading Currencies
4BRZ.DE is traded in USD, while FLXB.DE is traded in EUR. To make them comparable, the FLXB.DE values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, 4BRZ.DE achieves a 10.78% return, which is significantly lower than FLXB.DE's 14.15% return.
4BRZ.DE
- 1D
- 1.19%
- 1M
- 1.17%
- 6M
- 9.79%
- YTD
- 10.78%
- 1Y
- 25.26%
- 3Y*
- 8.77%
- 5Y*
- 5.24%
- 10Y*
- —
FLXB.DE
- 1D
- 1.05%
- 1M
- -0.89%
- 6M
- 13.22%
- YTD
- 14.15%
- 1Y
- 25.97%
- 3Y*
- 10.31%
- 5Y*
- 5.90%
- 10Y*
- —
4BRZ.DE vs. FLXB.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
4BRZ.DE iShares MSCI Brazil UCITS ETF (DE) USD (Acc) | 10.78% | 48.47% | -29.92% | 32.87% | 14.05% | -19.58% | -19.46% | 15.73% |
FLXB.DE Franklin FTSE Brazil UCITS ETF | 14.15% | 45.63% | -28.07% | 32.99% | 12.27% | -18.31% | -19.16% | 0.27% |
Correlation
The correlation between 4BRZ.DE and FLXB.DE is 0.92, 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 | 0.92 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.94 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.96 |
Correlation (All Time) Calculated using the full available price history since Jun 4, 2019 | 0.96 |
The correlation between 4BRZ.DE and FLXB.DE has been stable across timeframes, ranging from 0.92 to 0.96 - a consistent structural relationship.
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Return for Risk
4BRZ.DE vs. FLXB.DE — Risk / Return Rank
4BRZ.DE
FLXB.DE
4BRZ.DE vs. FLXB.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 Franklin FTSE Brazil UCITS ETF (FLXB.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 | FLXB.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.04 | ||
| Sortino ratioReturn per unit of downside risk | +0.06 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.19 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 1.29 | 1.44 | -0.15 |
| Martin ratioReturn relative to average drawdown | 3.45 | 3.74 | -0.30 |
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Drawdowns
4BRZ.DE vs. FLXB.DE - Drawdown Comparison
The maximum 4BRZ.DE drawdown since its inception was -57.20%, roughly equal to the maximum FLXB.DE drawdown of -56.66%. Use the drawdown chart below to compare losses from any high point for 4BRZ.DE and FLXB.DE.
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Drawdown Indicators
| 4BRZ.DE | FLXB.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -57.20% | -56.66% | -0.54% |
Max Drawdown (1Y)Largest decline over 1 year | -19.49% | -17.95% | -1.54% |
Max Drawdown (3Y)Largest decline over 3 years | -30.79% | -28.67% | -2.12% |
Max Drawdown (5Y)Largest decline over 5 years | -32.39% | -31.86% | -0.53% |
Current DrawdownCurrent decline from peak | -15.72% | -15.54% | -0.18% |
Average DrawdownAverage peak-to-trough decline | -18.87% | -19.10% | +0.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.13% | 6.74% | +0.39% |
Volatility
4BRZ.DE vs. FLXB.DE - Volatility Comparison
iShares MSCI Brazil UCITS ETF (DE) USD (Acc) (4BRZ.DE) has a higher volatility of 7.07% compared to Franklin FTSE Brazil UCITS ETF (FLXB.DE) at 6.38%. This indicates that 4BRZ.DE's price experiences larger fluctuations and is considered to be riskier than FLXB.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 | FLXB.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.07% | 6.38% | +0.69% |
Volatility (6M)Calculated over the trailing 6-month period | 18.51% | 19.45% | -0.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.57% | 25.15% | -1.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 27.42% | 27.09% | +0.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 33.15% | 32.27% | +0.88% |
4BRZ.DE vs. FLXB.DE - Expense Ratio Comparison
4BRZ.DE has a 0.31% expense ratio, which is higher than FLXB.DE's 0.19% expense ratio.
Dividends
4BRZ.DE vs. FLXB.DE - Dividend Comparison
Neither 4BRZ.DE nor FLXB.DE has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.92, 4BRZ.DE and FLXB.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, FLXB.DE is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.
FLXB.DE is cheaper with a 0.19% expense ratio, compared with 0.31% for 4BRZ.DE.
4BRZ.DE tracks MSCI Brazil 25/50 Index, while FLXB.DE tracks FTSE Brazil 30/18 Capped. They also come from different issuers: iShares and Franklin Templeton. Their fees differ too: 0.31% for 4BRZ.DE and 0.19% for FLXB.DE.
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