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ARGT vs. ECH
Performance
Return for Risk
Drawdowns
Volatility
Dividends

ARGT vs. ECH

Last updated Jun 24, 2026

ARGT (Global X MSCI Argentina ETF) and ECH (iShares MSCI Chile ETF) are both exchange-traded funds - ARGT is a Latin America Equities fund tracking the MSCI All Argentina 25/50 Index, while ECH is a Foreign Large Cap Equities fund tracking the MSCI Chile Investable Market Index. Both are passively managed. Over the past 10 years, ARGT returned 17.15%/yr vs 4.49%/yr for ECH. A 0.52 correlation means they provide meaningful diversification when combined. Both charge a 0.59% expense ratio.

Performance

ARGT vs. ECH - Performance Comparison

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

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Returns By Period

In the year-to-date period, ARGT achieves a 1.25% return, which is significantly higher than ECH's 0.19% return. Over the past 10 years, ARGT has outperformed ECH with an annualized return of 17.15%, while ECH has yielded a comparatively lower 4.49% annualized return.

ARGT

1D
-2.31%
1M
2.38%
YTD
1.25%
6M
1.33%
1Y
10.94%
3Y*
28.12%
5Y*
25.41%
10Y*
17.15%

ECH

1D
-2.38%
1M
0.47%
YTD
0.19%
6M
1.60%
1Y
35.27%
3Y*
14.56%
5Y*
10.67%
10Y*
4.49%
*Multi-year figures are annualized to reflect compound growth (CAGR)

ARGT vs. ECH - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
ARGT
Global X MSCI Argentina ETF		1.25%11.51%63.46%53.64%11.80%3.83%14.58%14.50%-32.62%53.87%
ECH
iShares MSCI Chile ETF		0.19%65.41%-8.67%9.01%25.12%-19.80%-7.13%-17.79%-18.98%41.79%

Correlation

The correlation between ARGT and ECH is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.46

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

0.44

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

0.50

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

0.51

Correlation (All Time)
Calculated using the full available price history since Mar 3, 2011

0.52

The correlation between ARGT and ECH has been stable across timeframes, ranging from 0.44 to 0.52 - a consistent structural relationship.

ARGT vs. ECH - Sectors Allocation Comparison

Sectors
ARGT
ECH

Consumer Cyclical

23.4%
12.4%

Energy

22.5%

-

Financial Services

16.0%
21.8%

Basic Materials

13.1%
20.1%

Industrials

8.2%
15.7%

Consumer Defensive

6.7%
7.6%

Utilities

5.3%
12.9%

Communication Services

3.4%
1.7%

Real Estate

1.4%
7.7%

Healthcare

-

-

Technology

-

-

Consumer Cyclical

ARGT
23.4%
ECH
12.4%

Energy

ARGT
22.5%
ECH

-

Financial Services

ARGT
16.0%
ECH
21.8%

Basic Materials

ARGT
13.1%
ECH
20.1%

Industrials

ARGT
8.2%
ECH
15.7%

Consumer Defensive

ARGT
6.7%
ECH
7.6%

Utilities

ARGT
5.3%
ECH
12.9%

Communication Services

ARGT
3.4%
ECH
1.7%

Real Estate

ARGT
1.4%
ECH
7.7%

Healthcare

ARGT

-

ECH

-

Technology

ARGT

-

ECH

-

Compare stocks, funds, or ETFs

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Global X MSCI Argentina ETF

iShares MSCI Chile ETF

Often compared with ARGT:
ARGT vs. EWZARGT vs. SPYARGT vs. VOOARGT vs. EDENARGT vs. EPUARGT vs. HTUSARGT vs. VGT
Often compared with ECH:
ECH vs. EWZECH vs. EWWECH vs. EPUECH vs. EWZSECH vs. EPOLECH vs. EWYECH vs. SCHD

Return for Risk

ARGT vs. ECH — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
ARGT
ARGT Risk / Return Rank: 1414
Overall Rank
ARGT Sharpe Ratio Rank: 1313
Sharpe Ratio Rank
ARGT Sortino Ratio Rank: 1515
Sortino Ratio Rank
ARGT Omega Ratio Rank: 1515
Omega Ratio Rank
ARGT Calmar Ratio Rank: 1515
Calmar Ratio Rank
ARGT Martin Ratio Rank: 1414
Martin Ratio Rank
ECH
ECH Risk / Return Rank: 3737
Overall Rank
ECH Sharpe Ratio Rank: 4141
Sharpe Ratio Rank
ECH Sortino Ratio Rank: 3939
Sortino Ratio Rank
ECH Omega Ratio Rank: 3838
Omega Ratio Rank
ECH Calmar Ratio Rank: 3838
Calmar Ratio Rank
ECH Martin Ratio Rank: 3030
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.

ARGT vs. ECH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X MSCI Argentina ETF (ARGT) and iShares MSCI Chile ETF (ECH). 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.

ARGTECHDifference
Sharpe ratioReturn per unit of total volatility
0.29
1.38

-1.09

Sortino ratioReturn per unit of downside risk
0.76
1.92

-1.16

Omega ratioGain probability vs. loss probability

1.09

1.24

-0.15

Calmar ratioReturn relative to maximum drawdown

0.50

1.80

-1.30

Martin ratioReturn relative to average drawdown

1.10

4.20

-3.11

ARGT vs. ECH - Sharpe Ratio Comparison

The current ARGT Sharpe Ratio is 0.29, which is lower than the ECH Sharpe Ratio of 1.38. The chart below compares the historical Sharpe Ratios of ARGT and ECH, 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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Drawdowns

ARGT vs. ECH - Drawdown Comparison

The maximum ARGT drawdown since its inception was -61.68%, smaller than the maximum ECH drawdown of -74.08%. Use the drawdown chart below to compare losses from any high point for ARGT and ECH.

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Drawdown Indicators

ARGTECHDifference

Max Drawdown

Largest peak-to-trough decline

-61.68%

-74.08%

+12.40%

Max Drawdown (1Y)

Largest decline over 1 year

-22.02%

-19.74%

-2.28%

Max Drawdown (3Y)

Largest decline over 3 years

-28.46%

-25.59%

-2.87%

Max Drawdown (5Y)

Largest decline over 5 years

-35.14%

-25.59%

-9.55%

Max Drawdown (10Y)

Largest decline over 10 years

-61.68%

-66.89%

+5.21%

Current Drawdown

Current decline from peak

-10.09%

-25.55%

+15.46%

Average Drawdown

Average peak-to-trough decline

-22.00%

-37.48%

+15.48%

Ulcer Index

Depth and duration of drawdowns from previous peaks

10.01%

8.42%

+1.59%

Volatility

ARGT vs. ECH - Volatility Comparison

Global X MSCI Argentina ETF (ARGT) has a higher volatility of 10.38% compared to iShares MSCI Chile ETF (ECH) at 8.96%. This indicates that ARGT's price experiences larger fluctuations and is considered to be riskier than ECH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

ARGTECHDifference

Volatility (1M)

Calculated over the trailing 1-month period

10.38%

8.96%

+1.42%

Volatility (6M)

Calculated over the trailing 6-month period

21.17%

21.27%

-0.10%

Volatility (1Y)

Calculated over the trailing 1-year period

37.26%

25.61%

+11.65%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

32.11%

27.64%

+4.47%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

31.49%

27.24%

+4.25%

ARGT vs. ECH - Expense Ratio Comparison

Both ARGT and ECH have an expense ratio of 0.59%.

Dividends

ARGT vs. ECH - Dividend Comparison

ARGT's dividend yield for the trailing twelve months is around 0.83%, less than ECH's 1.97% yield.

PositionTTM20252024202320222021202020192018201720162015
ARGT
Global X MSCI Argentina ETF		0.83%0.84%1.41%1.59%2.45%0.93%0.28%1.21%1.34%0.49%0.36%0.89%
ECH
iShares MSCI Chile ETF		1.97%2.01%3.12%4.77%6.73%5.49%2.16%2.47%2.37%1.42%1.85%2.13%

Frequently Asked Questions

ARGT and ECH have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

ARGT has higher volatility (10.38%) compared to ECH (8.96%). In terms of maximum drawdown, ARGT dropped -61.68% vs ECH's -74.08%.

On 10-year performance, ARGT leads with 17.15% vs 4.49% for ECH. Both ETFs have the same 0.59% expense ratio. On volatility, ECH has been the lower-risk option at 8.96%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, ARGT has performed better with a 17.15% return vs 4.49%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

ARGT and ECH have the same expense ratio: 0.59% per year.

ECH has the higher dividend yield at 1.97%, compared with 0.83% for ARGT.

ARGT is categorized as Latin America Equities, while ECH is Foreign Large Cap Equities. ARGT tracks MSCI All Argentina 25/50 Index, while ECH tracks MSCI Chile Investable Market Index. They also come from different issuers: Global X and iShares.

ECH currently has the higher Sharpe Ratio (1.38 vs 0.29), 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.

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