ARGT vs. BRAZ

Last updated Jun 4, 2026

ARGT (Global X MSCI Argentina ETF) and BRAZ (Global X Brazil Active ETF) are both Latin America Equities funds from Global X - ARGT tracks the MSCI All Argentina 25/50 while BRAZ tracks the Solactive Brazil Mid Cap Index. Both are passively managed. Over the past year, ARGT returned 5.86% vs 36.24% for BRAZ. At a 0.49 correlation, their price movements are largely independent. ARGT charges 0.60%/yr vs 0.75%/yr for BRAZ.

Performance

ARGT vs. BRAZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X MSCI Argentina ETF (ARGT) and Global X Brazil Active ETF (BRAZ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ARGT achieves a 3.65% return, which is significantly lower than BRAZ's 11.06% return.

ARGT

• 1D: -3.12%
• 1M: 5.42%
• YTD: 3.65%
• 6M: 0.81%
• 1Y: 5.86%
• 3Y*: 33.61%
• 5Y*: 26.82%
• 10Y*: 17.46%

BRAZ

• 1D: -0.11%
• 1M: -9.25%
• YTD: 11.06%
• 6M: 7.45%
• 1Y: 36.24%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

ARGT vs. BRAZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
ARGT Global X MSCI Argentina ETF	3.65%	11.51%	63.46%	16.53%
BRAZ Global X Brazil Active ETF	11.06%	45.42%	-29.74%	17.56%

Correlation

The correlation between ARGT and BRAZ is 0.54, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.54
Correlation (All Time) Calculated using the full available price history since Aug 21, 2023	0.49

The correlation between ARGT and BRAZ has been stable across timeframes, ranging from 0.49 to 0.54 - a consistent structural relationship.

ARGT vs. BRAZ - Sectors Allocation Comparison

Sectors	ARGT	BRAZ
Consumer Cyclical	26.3%	3.7%
Energy	22.2%	18.3%
Financial Services	13.7%	38.2%
Basic Materials	13.3%	13.4%
Industrials	8.3%	6.7%
Consumer Defensive	6.9%	1.5%
Utilities	5.1%	10.1%
Communication Services	2.9%	-
Real Estate	1.3%	2.8%
Healthcare	-	2.3%
Technology	-	0.9%

Return for Risk

ARGT vs. BRAZ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ARGT

ARGT Risk / Return Rank: 12
ARGT Sharpe Ratio Rank: 11
ARGT Sortino Ratio Rank: 12
ARGT Omega Ratio Rank: 12
ARGT Calmar Ratio Rank: 12
ARGT Martin Ratio Rank: 11

BRAZ

BRAZ Risk / Return Rank: 43
BRAZ Sharpe Ratio Rank: 42
BRAZ Sortino Ratio Rank: 39
BRAZ Omega Ratio Rank: 40
BRAZ Calmar Ratio Rank: 50
BRAZ Martin Ratio Rank: 44

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.

ARGT vs. BRAZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X MSCI Argentina ETF (ARGT) and Global X Brazil Active ETF (BRAZ). 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.

	ARGT	BRAZ	Difference
Sharpe ratio Return per unit of total volatility	0.16	1.51	-1.35
Sortino ratio Return per unit of downside risk	0.55	2.02	-1.48
Omega ratio Gain probability vs. loss probability	1.06	1.26	-0.20
Calmar ratio Return relative to maximum drawdown	0.26	2.52	-2.26
Martin ratio Return relative to average drawdown	0.57	7.21	-6.64
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ARGT vs. BRAZ - Sharpe Ratio Comparison

The current ARGT Sharpe Ratio is 0.16, which is lower than the BRAZ Sharpe Ratio of 1.51. The chart below compares the historical Sharpe Ratios of ARGT and BRAZ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	ARGT	BRAZ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.16	1.51	-1.35
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.84	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.56	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.30	0.47	-0.17

Drawdowns

ARGT vs. BRAZ - Drawdown Comparison

The maximum ARGT drawdown since its inception was -61.68%, which is greater than BRAZ's maximum drawdown of -31.02%. Use the drawdown chart below to compare losses from any high point for ARGT and BRAZ.

Drawdown Indicators

	ARGT	BRAZ	Difference
Max Drawdown Largest peak-to-trough decline	-61.68%	-31.02%	-30.66%
Max Drawdown (1Y) Largest decline over 1 year	-22.97%	-14.51%	-8.46%
Max Drawdown (3Y) Largest decline over 3 years	-28.46%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-35.14%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-61.68%	—	—
Current Drawdown Current decline from peak	-7.96%	-14.50%	+6.54%
Average Drawdown Average peak-to-trough decline	-22.05%	-11.24%	-10.81%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.20%	5.07%	+6.13%

Volatility

ARGT vs. BRAZ - Volatility Comparison

Global X MSCI Argentina ETF (ARGT) has a higher volatility of 10.43% compared to Global X Brazil Active ETF (BRAZ) at 6.85%. This indicates that ARGT's price experiences larger fluctuations and is considered to be riskier than BRAZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ARGT	BRAZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.43%	6.85%	+3.58%
Volatility (6M) Calculated over the trailing 6-month period	20.31%	19.97%	+0.34%
Volatility (1Y) Calculated over the trailing 1-year period	36.70%	24.08%	+12.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	31.92%	23.57%	+8.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.44%	23.57%	+7.87%

ARGT vs. BRAZ - Expense Ratio Comparison

ARGT has a 0.60% expense ratio, which is lower than BRAZ's 0.75% expense ratio.

Dividends

ARGT vs. BRAZ - Dividend Comparison

ARGT's dividend yield for the trailing twelve months is around 0.81%, less than BRAZ's 3.07% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ARGT Global X MSCI Argentina ETF	0.81%	0.84%	1.41%	1.59%	2.45%	0.93%	0.28%	1.21%	1.34%	0.49%	0.36%	0.89%
BRAZ Global X Brazil Active ETF	3.07%	3.41%	4.16%	1.88%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ARGT and BRAZ in my portfolio?

ARGT and BRAZ have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ARGT or BRAZ?

ARGT has higher volatility (10.43%) compared to BRAZ (6.85%). In terms of maximum drawdown, ARGT dropped -61.68% vs BRAZ's -31.02%.

Which ETF is better, ARGT or BRAZ?

On 1-year performance, BRAZ leads with 36.24% vs 5.86% for ARGT. On fees, ARGT is cheaper at 0.60% per year. On volatility, BRAZ has been the lower-risk option at 6.85%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ARGT or BRAZ?

Over the 1-year period, BRAZ has performed better with a 36.24% return vs 5.86%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ARGT or BRAZ?

ARGT is cheaper with a 0.60% expense ratio, compared with 0.75% for BRAZ.

Which ETF pays a higher dividend yield, ARGT or BRAZ?

BRAZ has the higher dividend yield at 3.07%, compared with 0.81% for ARGT.

What is the main difference between ARGT and BRAZ?

ARGT tracks MSCI All Argentina 25/50, while BRAZ tracks Solactive Brazil Mid Cap Index. Their fees differ too: 0.60% for ARGT and 0.75% for BRAZ.

Which has better risk-adjusted returns?

BRAZ currently has the higher Sharpe Ratio (1.51 vs 0.16), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.