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ALAG.L vs. IBZL.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

ALAG.L vs. IBZL.L

Last updated Jun 5, 2026

ALAG.L (Amundi MSCI Em Latin America UCITS ETF-C USD) and IBZL.L (iShares MSCI Brazil UCITS ETF (Dist)) are both Latin America Equities funds - ALAG.L tracks the MSCI EM Latin America NR USD while IBZL.L tracks the MSCI Brazil NR USD. Both are passively managed. Over the past 10 years, ALAG.L returned 8.49%/yr vs 9.70%/yr for IBZL.L. Their correlation of 0.92 suggests significant overlap in exposure. ALAG.L charges 0.10%/yr vs 0.74%/yr for IBZL.L.

Performance

ALAG.L vs. IBZL.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Amundi MSCI Em Latin America UCITS ETF-C USD (ALAG.L) and iShares MSCI Brazil UCITS ETF (Dist) (IBZL.L). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

The year-to-date returns for both stocks are quite close, with ALAG.L having a 10.55% return and IBZL.L slightly lower at 10.16%. Over the past 10 years, ALAG.L has underperformed IBZL.L with an annualized return of 8.49%, while IBZL.L has yielded a comparatively higher 9.70% annualized return.

ALAG.L

1D
-0.47%
1M
-6.14%
YTD
10.55%
6M
7.97%
1Y
38.67%
3Y*
10.97%
5Y*
9.69%
10Y*
8.49%

IBZL.L

1D
0.18%
1M
-12.01%
YTD
10.16%
6M
3.73%
1Y
36.12%
3Y*
9.39%
5Y*
8.43%
10Y*
9.70%
*Multi-year figures are annualized to reflect compound growth (CAGR)

ALAG.L vs. IBZL.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
ALAG.L
Amundi MSCI Em Latin America UCITS ETF-C USD		10.55%44.31%-25.31%25.10%21.74%-8.24%-16.56%12.56%-1.55%12.30%
IBZL.L
iShares MSCI Brazil UCITS ETF (Dist)		10.16%38.28%-26.04%25.61%32.04%-19.06%-16.73%15.40%3.61%14.78%

Correlation

The correlation between ALAG.L and IBZL.L is 0.82, 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

0.82

Correlation (3Y)
Calculated over the trailing 3-year period

0.88

Correlation (5Y)
Calculated over the trailing 5-year period

0.90

Correlation (10Y)
Calculated over the trailing 10-year period

0.92

Correlation (All Time)
Calculated using the full available price history since Feb 24, 2016

0.92

The correlation between ALAG.L and IBZL.L shifts across timeframes, from 0.82 (1 year) to 0.92 (all time), reflecting how their relationship changes across market environments.

ALAG.L vs. IBZL.L - Sectors Allocation Comparison

Sectors
ALAG.L
IBZL.L

Financial Services

30.3%
33.2%

Basic Materials

19.7%
13.7%

Energy

11.7%
18.9%

Industrials

10.8%
10.8%

Consumer Defensive

9.9%
4.2%

Utilities

8.5%
12.7%

Communication Services

4.0%
2.0%

Consumer Cyclical

1.6%
1.3%

Real Estate

1.6%

-

Healthcare

1.4%
2.2%

Technology

0.7%
1.1%

Financial Services

ALAG.L
30.3%
IBZL.L
33.2%

Basic Materials

ALAG.L
19.7%
IBZL.L
13.7%

Energy

ALAG.L
11.7%
IBZL.L
18.9%

Industrials

ALAG.L
10.8%
IBZL.L
10.8%

Consumer Defensive

ALAG.L
9.9%
IBZL.L
4.2%

Utilities

ALAG.L
8.5%
IBZL.L
12.7%

Communication Services

ALAG.L
4.0%
IBZL.L
2.0%

Consumer Cyclical

ALAG.L
1.6%
IBZL.L
1.3%

Real Estate

ALAG.L
1.6%
IBZL.L

-

Healthcare

ALAG.L
1.4%
IBZL.L
2.2%

Technology

ALAG.L
0.7%
IBZL.L
1.1%

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Amundi MSCI Em Latin America UCITS ETF-C USD

iShares MSCI Brazil UCITS ETF (Dist)

Often compared with ALAG.L:
ALAG.L vs. LTAM.LALAG.L vs. EMIM.LALAG.L vs. ILFALAG.L vs. EWZALAG.L vs. ALAU.LALAG.L vs. XMLA.LALAG.L vs. DLTM.L
Often compared with IBZL.L:
IBZL.L vs. EWZIBZL.L vs. EWOIBZL.L vs. SP2D.DEIBZL.L vs. VOOIBZL.L vs. pbrIBZL.L vs. ACWIIBZL.L vs. IJPH.L

Return for Risk

ALAG.L vs. IBZL.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
ALAG.L
ALAG.L Risk / Return Rank: 6666
Overall Rank
ALAG.L Sharpe Ratio Rank: 6969
Sharpe Ratio Rank
ALAG.L Sortino Ratio Rank: 6363
Sortino Ratio Rank
ALAG.L Omega Ratio Rank: 6464
Omega Ratio Rank
ALAG.L Calmar Ratio Rank: 7373
Calmar Ratio Rank
ALAG.L Martin Ratio Rank: 6161
Martin Ratio Rank
IBZL.L
IBZL.L Risk / Return Rank: 4747
Overall Rank
IBZL.L Sharpe Ratio Rank: 5050
Sharpe Ratio Rank
IBZL.L Sortino Ratio Rank: 4747
Sortino Ratio Rank
IBZL.L Omega Ratio Rank: 4747
Omega Ratio Rank
IBZL.L Calmar Ratio Rank: 4545
Calmar Ratio Rank
IBZL.L Martin Ratio Rank: 4545
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ALAG.L vs. IBZL.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Amundi MSCI Em Latin America UCITS ETF-C USD (ALAG.L) and iShares MSCI Brazil UCITS ETF (Dist) (IBZL.L). 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.

ALAG.LIBZL.LDifference
Sharpe ratioReturn per unit of total volatility
2.22
1.69

+0.53

Sortino ratioReturn per unit of downside risk
2.90
2.30

+0.60

Omega ratioGain probability vs. loss probability

1.38

1.29

+0.09

Calmar ratioReturn relative to maximum drawdown

3.62

2.17

+1.45

Martin ratioReturn relative to average drawdown

10.83

7.39

+3.43

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ALAG.L vs. IBZL.L - Sharpe Ratio Comparison

The current ALAG.L Sharpe Ratio is 2.22, which is higher than the IBZL.L Sharpe Ratio of 1.69. The chart below compares the historical Sharpe Ratios of ALAG.L and IBZL.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

ALAG.LIBZL.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.22

1.69

+0.53

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.47

0.32

+0.15

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.34

0.31

+0.04

Sharpe Ratio (All Time)

Calculated using the full available price history

0.40

0.21

+0.19

Drawdowns

ALAG.L vs. IBZL.L - Drawdown Comparison

The maximum ALAG.L drawdown since its inception was -48.94%, smaller than the maximum IBZL.L drawdown of -69.44%. Use the drawdown chart below to compare losses from any high point for ALAG.L and IBZL.L.

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Drawdown Indicators

ALAG.LIBZL.LDifference

Max Drawdown

Largest peak-to-trough decline

-48.94%

-69.44%

+20.50%

Max Drawdown (1Y)

Largest decline over 1 year

-10.63%

-16.58%

+5.95%

Max Drawdown (3Y)

Largest decline over 3 years

-25.74%

-27.68%

+1.94%

Max Drawdown (5Y)

Largest decline over 5 years

-25.74%

-28.21%

+2.47%

Max Drawdown (10Y)

Largest decline over 10 years

-48.94%

-51.77%

+2.83%

Current Drawdown

Current decline from peak

-10.63%

-16.43%

+5.80%

Average Drawdown

Average peak-to-trough decline

-12.08%

-21.85%

+9.77%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.56%

4.87%

-1.31%

Volatility

ALAG.L vs. IBZL.L - Volatility Comparison

The current volatility for Amundi MSCI Em Latin America UCITS ETF-C USD (ALAG.L) is 4.67%, while iShares MSCI Brazil UCITS ETF (Dist) (IBZL.L) has a volatility of 5.42%. This indicates that ALAG.L experiences smaller price fluctuations and is considered to be less risky than IBZL.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

ALAG.LIBZL.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.67%

5.42%

-0.75%

Volatility (6M)

Calculated over the trailing 6-month period

15.08%

17.53%

-2.45%

Volatility (1Y)

Calculated over the trailing 1-year period

17.38%

21.29%

-3.91%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

20.42%

26.40%

-5.98%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

24.89%

31.47%

-6.58%

ALAG.L vs. IBZL.L - Expense Ratio Comparison

ALAG.L has a 0.10% expense ratio, which is lower than IBZL.L's 0.74% expense ratio.

Dividends

ALAG.L vs. IBZL.L - Dividend Comparison

ALAG.L has not paid dividends to shareholders, while IBZL.L's dividend yield for the trailing twelve months is around 5.82%.

PositionTTM20252024202320222021202020192018201720162015
ALAG.L
Amundi MSCI Em Latin America UCITS ETF-C USD		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
IBZL.L
iShares MSCI Brazil UCITS ETF (Dist)		5.82%5.74%8.31%6.83%16.49%8.64%2.44%3.28%3.31%1.86%2.24%5.42%

Frequently Asked Questions

ALAG.L and IBZL.L have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, ALAG.L is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.

ALAG.L is cheaper with a 0.10% expense ratio, compared with 0.74% for IBZL.L.

ALAG.L tracks MSCI EM Latin America NR USD, while IBZL.L tracks MSCI Brazil NR USD. They also come from different issuers: Amundi and iShares. Their fees differ too: 0.10% for ALAG.L and 0.74% for IBZL.L.

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