ARRY vs. EWZ
ARRY (Array Technologies, Inc.) is a stock, while EWZ (iShares MSCI Brazil ETF) is Latin America Equities fund tracking the MSCI Brazil 25/50 Index. Over the past 5 years, ARRY returned -17.36%/yr vs 7.67%/yr for EWZ. Their 0.23 correlation means their historical movements had little consistent relationship.
Performance
ARRY vs. EWZ - Performance Comparison
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Returns By Period
In the year-to-date period, ARRY achieves a -43.38% return, which is significantly lower than EWZ's 16.46% return.
ARRY
- 1D
- 2.76%
- 1M
- -25.11%
- 6M
- -53.91%
- YTD
- -43.38%
- 1Y
- -13.86%
- 3Y*
- -34.80%
- 5Y*
- -17.36%
- 10Y*
- —
- ALL TIME*
- -25.85%
EWZ
- 1D
- 0.33%
- 1M
- 6.45%
- 6M
- -0.11%
- YTD
- 16.46%
- 1Y
- 43.70%
- 3Y*
- 9.53%
- 5Y*
- 7.67%
- 10Y*
- 6.64%
- ALL TIME*
- 6.52%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $37.09M | $38.93M | $45.03M | |
| $598.51M | $637.15M | $833.60M |
ARRY vs. EWZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
ARRY Array Technologies, Inc. | -43.38% | 52.65% | -64.05% | -13.09% | 23.20% | -63.63% | 46.24% |
EWZ iShares MSCI Brazil ETF | 16.46% | 48.81% | -30.41% | 32.62% | 12.09% | -17.32% | 28.17% |
Correlation
The correlation between ARRY and EWZ is 0.24, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.24 |
Correlation (3Y) Balances recent behavior with more history. | 0.26 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.25 |
Correlation (All Time) Calculated using the full available price history since Oct 15, 2020 | 0.23 |
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Return for Risk
ARRY vs. EWZ — Risk / Return Rank
ARRY
EWZ
ARRY vs. EWZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Array Technologies, Inc. (ARRY) and iShares MSCI Brazil ETF (EWZ). 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.
| ARRY | EWZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.01 | ||
| Sortino ratioReturn per unit of downside risk | -2.13 | ||
| Omega ratioGain probability vs. loss probability | 1.03 | 1.30 | -0.27 |
| Calmar ratioReturn relative to maximum drawdown | -0.33 | 2.31 | -2.64 |
| Martin ratioReturn relative to average drawdown | -0.71 | 5.64 | -6.36 |
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Drawdowns
ARRY vs. EWZ - Drawdown Comparison
The maximum ARRY drawdown since its inception was -92.20%, which is greater than EWZ's maximum drawdown of -77.25%. Use the drawdown chart below to compare losses from any high point for ARRY and EWZ.
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Drawdown Indicators
| ARRY | EWZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -92.20% | -77.25% | -14.95% |
Max Drawdown (1Y)Largest decline over 1 year | -59.78% | -19.27% | -40.51% |
Max Drawdown (3Y)Largest decline over 3 years | -84.88% | -31.36% | -53.52% |
Max Drawdown (5Y)Largest decline over 5 years | -85.31% | -32.24% | -53.07% |
Max Drawdown (10Y)Largest decline over 10 years | — | -56.99% | — |
Current DrawdownCurrent decline from peak | -89.77% | -18.89% | -70.88% |
Average DrawdownAverage peak-to-trough decline | -69.32% | -35.86% | -33.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 27.70% | 7.86% | +19.84% |
Volatility
ARRY vs. EWZ - Volatility Comparison
Array Technologies, Inc. (ARRY) has a higher volatility of 16.61% compared to iShares MSCI Brazil ETF (EWZ) at 6.69%. This indicates that ARRY's price experiences larger fluctuations and is considered to be riskier than EWZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ARRY | EWZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.61% | 6.69% | +9.92% |
Volatility (6M)Calculated over the trailing 6-month period | 62.21% | 19.32% | +42.89% |
Volatility (1Y)Calculated over the trailing 1-year period | 82.75% | 25.12% | +57.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 81.93% | 27.46% | +54.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 82.39% | 33.90% | +48.49% |
Dividends
ARRY vs. EWZ - Dividend Comparison
ARRY has not paid dividends to shareholders, while EWZ's dividend yield for the trailing twelve months is around 3.99%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ARRY Array Technologies, Inc. | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
EWZ iShares MSCI Brazil ETF | 3.99% | 5.19% | 8.91% | 5.66% | 12.59% | 9.87% | 1.71% | 2.54% | 2.89% | 1.71% | 1.81% | 4.08% |
Frequently Asked Questions
ARRY and EWZ have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ARRY has higher volatility (16.61%) compared to EWZ (6.69%). In terms of maximum drawdown, ARRY dropped -92.20% vs EWZ's -77.25%.
EWZ currently has the higher Sharpe Ratio (1.77 vs -0.24), 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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