AMEL.DE vs. IBZL.L
AMEL.DE (Amundi MSCI Emerging Markets Latin America UCITS ETF EUR) and IBZL.L (iShares MSCI Brazil UCITS ETF (Dist)) are both Latin America Equities funds - AMEL.DE tracks the MSCI Emerging Markets Latin America while IBZL.L tracks the MSCI Brazil NR USD. Both are passively managed. Over the past 10 years, AMEL.DE returned 8.05%/yr vs 7.62%/yr for IBZL.L. Their correlation of 0.90 suggests significant overlap in exposure. AMEL.DE charges 0.20%/yr vs 0.74%/yr for IBZL.L.
Performance
AMEL.DE vs. IBZL.L - Performance Comparison
Loading charts...
Different Trading Currencies
AMEL.DE is traded in EUR, while IBZL.L is traded in GBp. To make them comparable, the IBZL.L values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, AMEL.DE achieves a 13.84% return, which is significantly higher than IBZL.L's 12.57% return. Over the past 10 years, AMEL.DE has outperformed IBZL.L with an annualized return of 8.05%, while IBZL.L has yielded a comparatively lower 7.62% annualized return.
AMEL.DE
- 1D
- 3.30%
- 1M
- -3.05%
- YTD
- 13.84%
- 6M
- 14.72%
- 1Y
- 37.57%
- 3Y*
- 10.30%
- 5Y*
- 10.14%
- 10Y*
- 8.05%
IBZL.L
- 1D
- 4.24%
- 1M
- -6.10%
- YTD
- 12.57%
- 6M
- 12.19%
- 1Y
- 31.62%
- 3Y*
- 6.37%
- 5Y*
- 6.58%
- 10Y*
- 7.62%
AMEL.DE vs. IBZL.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
AMEL.DE Amundi MSCI Emerging Markets Latin America UCITS ETF EUR | 13.84% | 38.05% | -22.20% | 28.15% | 16.33% | -3.25% | -21.25% | 20.70% | -3.30% | 8.15% |
IBZL.L iShares MSCI Brazil UCITS ETF (Dist) | 12.57% | 28.87% | -23.67% | 26.35% | 21.77% | -15.53% | -21.72% | 21.77% | 1.42% | 9.80% |
Correlation
The correlation between AMEL.DE and IBZL.L is 0.91, 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 | 0.91 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.89 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.88 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.89 |
Correlation (All Time) Calculated using the full available price history since Nov 30, 2011 | 0.90 |
The correlation between AMEL.DE and IBZL.L has been stable across timeframes, ranging from 0.88 to 0.91 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
AMEL.DE vs. IBZL.L — Risk / Return Rank
AMEL.DE
IBZL.L
AMEL.DE vs. IBZL.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Amundi MSCI Emerging Markets Latin America UCITS ETF EUR (AMEL.DE) 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.
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.
| AMEL.DE | IBZL.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.57 | ||
| Sortino ratioReturn per unit of downside risk | +0.69 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.25 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 2.84 | 1.72 | +1.12 |
| Martin ratioReturn relative to average drawdown | 9.36 | 5.73 | +3.63 |
Loading charts...
Drawdowns
AMEL.DE vs. IBZL.L - Drawdown Comparison
The maximum AMEL.DE drawdown since its inception was -52.71%, smaller than the maximum IBZL.L drawdown of -69.25%. Use the drawdown chart below to compare losses from any high point for AMEL.DE and IBZL.L.
Loading charts...
Drawdown Indicators
| AMEL.DE | IBZL.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.71% | -69.25% | +16.54% |
Max Drawdown (1Y)Largest decline over 1 year | -13.17% | -18.34% | +5.17% |
Max Drawdown (3Y)Largest decline over 3 years | -25.37% | -27.09% | +1.72% |
Max Drawdown (5Y)Largest decline over 5 years | -25.37% | -27.73% | +2.36% |
Max Drawdown (10Y)Largest decline over 10 years | -51.33% | -52.26% | +0.93% |
Current DrawdownCurrent decline from peak | -8.43% | -14.43% | +6.00% |
Average DrawdownAverage peak-to-trough decline | -17.87% | -30.04% | +12.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.00% | 5.50% | -1.50% |
Volatility
AMEL.DE vs. IBZL.L - Volatility Comparison
The current volatility for Amundi MSCI Emerging Markets Latin America UCITS ETF EUR (AMEL.DE) is 6.66%, while iShares MSCI Brazil UCITS ETF (Dist) (IBZL.L) has a volatility of 7.25%. This indicates that AMEL.DE 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.
Loading charts...
Volatility by Period
| AMEL.DE | IBZL.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.66% | 7.25% | -0.59% |
Volatility (6M)Calculated over the trailing 6-month period | 15.86% | 17.80% | -1.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.76% | 21.99% | -3.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.00% | 26.78% | -5.78% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.29% | 31.74% | -6.45% |
AMEL.DE vs. IBZL.L - Expense Ratio Comparison
AMEL.DE has a 0.20% expense ratio, which is lower than IBZL.L's 0.74% expense ratio.
Dividends
AMEL.DE vs. IBZL.L - Dividend Comparison
AMEL.DE has not paid dividends to shareholders, while IBZL.L's dividend yield for the trailing twelve months is around 3.26%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AMEL.DE Amundi MSCI Emerging Markets Latin America UCITS ETF EUR | 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) | 3.26% | 4.32% | 6.46% | 5.44% | 13.60% | 6.32% | 1.92% | 2.53% | 2.45% | 1.46% | 1.64% | 3.54% |
Frequently Asked Questions
With a correlation of 0.91, AMEL.DE and IBZL.L 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 0.74% for IBZL.L.
AMEL.DE tracks MSCI Emerging Markets Latin America, while IBZL.L tracks MSCI Brazil NR USD. They also come from different issuers: Amundi and iShares. Their fees differ too: 0.20% for AMEL.DE and 0.74% for IBZL.L.
Find the right allocation for AMEL.DE and IBZL.L
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer