BG vs. EWZ
BG (Bunge Limited) is a stock, while EWZ (iShares MSCI Brazil ETF) is Latin America Equities fund tracking the MSCI Brazil 25/50 Index. Over the past 10 years, BG returned 9.82%/yr vs 6.86%/yr for EWZ. At a 0.34 correlation, their price movements are largely independent.
Performance
BG vs. EWZ - Performance Comparison
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Returns By Period
In the year-to-date period, BG achieves a 29.85% return, which is significantly higher than EWZ's 14.17% return. Over the past 10 years, BG has outperformed EWZ with an annualized return of 9.82%, while EWZ has yielded a comparatively lower 6.86% annualized return.
BG
- 1D
- 0.62%
- 1M
- -8.75%
- 6M
- 15.68%
- YTD
- 29.85%
- 1Y
- 53.17%
- 3Y*
- 6.89%
- 5Y*
- 11.18%
- 10Y*
- 9.82%
EWZ
- 1D
- 2.77%
- 1M
- 4.20%
- 6M
- 9.71%
- YTD
- 14.17%
- 1Y
- 36.37%
- 3Y*
- 10.52%
- 5Y*
- 6.56%
- 10Y*
- 6.86%
BG vs. EWZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BG Bunge Limited | 29.85% | 18.56% | -20.74% | 3.79% | 9.28% | 46.77% | 18.92% | 11.77% | -17.99% | -4.76% |
EWZ iShares MSCI Brazil ETF | 14.17% | 48.81% | -30.41% | 32.62% | 12.09% | -17.32% | -20.35% | 27.67% | -2.52% | 23.62% |
Correlation
The correlation between BG and EWZ is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.24 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.27 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.30 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.29 |
Correlation (All Time) Calculated using the full available price history since Aug 2, 2001 | 0.34 |
The correlation between BG and EWZ shifts across timeframes, from 0.24 (1 year) to 0.34 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
BG vs. EWZ — Risk / Return Rank
BG
EWZ
BG vs. EWZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Bunge Limited (BG) 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.
| BG | EWZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.31 | ||
| Sortino ratioReturn per unit of downside risk | +0.75 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.25 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.67 | 1.85 | +0.82 |
| Martin ratioReturn relative to average drawdown | 9.27 | 4.94 | +4.33 |
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Drawdowns
BG vs. EWZ - Drawdown Comparison
The maximum BG drawdown since its inception was -77.34%, roughly equal to the maximum EWZ drawdown of -77.25%. Use the drawdown chart below to compare losses from any high point for BG and EWZ.
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Drawdown Indicators
| BG | EWZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -77.34% | -77.25% | -0.09% |
Max Drawdown (1Y)Largest decline over 1 year | -20.18% | -19.27% | -0.91% |
Max Drawdown (3Y)Largest decline over 3 years | -38.82% | -31.36% | -7.46% |
Max Drawdown (5Y)Largest decline over 5 years | -41.49% | -32.24% | -9.25% |
Max Drawdown (10Y)Largest decline over 10 years | -60.49% | -56.99% | -3.50% |
Current DrawdownCurrent decline from peak | -13.01% | -20.49% | +7.48% |
Average DrawdownAverage peak-to-trough decline | -28.83% | -35.90% | +7.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.80% | 7.20% | -1.40% |
Volatility
BG vs. EWZ - Volatility Comparison
Bunge Limited (BG) has a higher volatility of 9.66% compared to iShares MSCI Brazil ETF (EWZ) at 5.74%. This indicates that BG'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
| BG | EWZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.66% | 5.74% | +3.92% |
Volatility (6M)Calculated over the trailing 6-month period | 20.94% | 19.70% | +1.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 30.89% | 24.98% | +5.91% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.36% | 27.60% | +1.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 31.04% | 33.90% | -2.86% |
Dividends
BG vs. EWZ - Dividend Comparison
BG's dividend yield for the trailing twelve months is around 2.47%, less than EWZ's 4.07% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BG Bunge Limited | 2.47% | 3.12% | 3.48% | 2.55% | 2.31% | 2.76% | 3.05% | 3.48% | 3.59% | 2.62% | 2.21% | 2.11% |
EWZ iShares MSCI Brazil ETF | 4.07% | 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
BG 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.
BG has higher volatility (9.66%) compared to EWZ (5.74%). In terms of maximum drawdown, BG dropped -77.34% vs EWZ's -77.25%.
BG currently has the higher Sharpe Ratio (1.74 vs 1.43), 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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