BINV vs. BIIEX

Last updated Jun 3, 2026

BINV (Brandes International ETF) and BIIEX (Brandes International Equity Fund) are both Foreign Large Cap Equities funds from Brandes. Over the past year, BINV returned 23.74% vs 25.14% for BIIEX. With a 0.96 correlation, they move nearly in lockstep. BINV charges 0.70%/yr vs 0.85%/yr for BIIEX.

Performance

BINV vs. BIIEX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Brandes International ETF (BINV) and Brandes International Equity Fund (BIIEX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BINV achieves a 6.74% return, which is significantly lower than BIIEX's 7.27% return.

BINV

• 1D: 0.07%
• 1M: 1.16%
• YTD: 6.74%
• 6M: 9.12%
• 1Y: 23.74%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BIIEX

• 1D: -0.17%
• 1M: 1.28%
• YTD: 7.27%
• 6M: 9.87%
• 1Y: 25.14%
• 3Y*: 22.50%
• 5Y*: 12.63%
• 10Y*: 10.31%

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

BINV vs. BIIEX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
BINV Brandes International ETF	6.74%	37.84%	7.71%	12.66%
BIIEX Brandes International Equity Fund	7.27%	38.82%	7.17%	13.27%

Correlation

The correlation between BINV and BIIEX is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.96
Correlation (All Time) Calculated using the full available price history since Oct 6, 2023	0.96

The correlation between BINV and BIIEX has been stable across timeframes, ranging from 0.96 to 0.96 - a consistent structural relationship.

Return for Risk

BINV vs. BIIEX — Risk / Return Rank

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

BINV

BINV Risk / Return Rank: 47
BINV Sharpe Ratio Rank: 50
BINV Sortino Ratio Rank: 51
BINV Omega Ratio Rank: 48
BINV Calmar Ratio Rank: 42
BINV Martin Ratio Rank: 45

BIIEX

BIIEX Risk / Return Rank: 41
BIIEX Sharpe Ratio Rank: 45
BIIEX Sortino Ratio Rank: 44
BIIEX Omega Ratio Rank: 43
BIIEX Calmar Ratio Rank: 36
BIIEX Martin Ratio Rank: 38

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.

BINV vs. BIIEX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Brandes International ETF (BINV) and Brandes International Equity Fund (BIIEX). 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.

	BINV	BIIEX	Difference
Sharpe ratio Return per unit of total volatility	1.72	1.97	-0.25
Sortino ratio Return per unit of downside risk	2.48	2.78	-0.29
Omega ratio Gain probability vs. loss probability	1.30	1.36	-0.05
Calmar ratio Return relative to maximum drawdown	2.12	2.29	-0.17
Martin ratio Return relative to average drawdown	7.41	8.35	-0.94
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BINV vs. BIIEX - Sharpe Ratio Comparison

The current BINV Sharpe Ratio is 1.72, which is comparable to the BIIEX Sharpe Ratio of 1.97. The chart below compares the historical Sharpe Ratios of BINV and BIIEX, 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

	BINV	BIIEX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.72	1.97	-0.25
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.84	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.61	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.67	0.43	+1.24

Drawdowns

BINV vs. BIIEX - Drawdown Comparison

The maximum BINV drawdown since its inception was -14.91%, smaller than the maximum BIIEX drawdown of -58.76%. Use the drawdown chart below to compare losses from any high point for BINV and BIIEX.

Drawdown Indicators

	BINV	BIIEX	Difference
Max Drawdown Largest peak-to-trough decline	-14.91%	-58.76%	+43.85%
Max Drawdown (1Y) Largest decline over 1 year	-11.50%	-11.17%	-0.33%
Max Drawdown (3Y) Largest decline over 3 years	—	-13.69%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-29.73%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-42.67%	—
Current Drawdown Current decline from peak	-4.15%	-3.48%	-0.67%
Average Drawdown Average peak-to-trough decline	-2.43%	-11.60%	+9.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.29%	3.06%	+0.23%

Volatility

BINV vs. BIIEX - Volatility Comparison

Brandes International ETF (BINV) has a higher volatility of 4.01% compared to Brandes International Equity Fund (BIIEX) at 3.74%. This indicates that BINV's price experiences larger fluctuations and is considered to be riskier than BIIEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BINV	BIIEX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.01%	3.74%	+0.27%
Volatility (6M) Calculated over the trailing 6-month period	10.91%	10.31%	+0.60%
Volatility (1Y) Calculated over the trailing 1-year period	13.84%	13.18%	+0.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.76%	15.06%	-0.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.76%	17.00%	-2.24%

BINV vs. BIIEX - Expense Ratio Comparison

BINV has a 0.70% expense ratio, which is lower than BIIEX's 0.85% expense ratio.

Dividends

BINV vs. BIIEX - Dividend Comparison

BINV's dividend yield for the trailing twelve months is around 2.05%, less than BIIEX's 5.75% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BIIEX Brandes International Equity Fund	5.75%	6.17%	2.95%	2.51%	3.57%	3.81%	1.86%	3.76%	2.83%	1.80%	3.58%	2.53%
BINV Brandes International ETF	2.05%	2.23%	2.40%	0.28%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BINV and BIIEX in my portfolio?

With a correlation of 0.96, BINV and BIIEX 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.

Which is riskier, BINV or BIIEX?

BINV has higher volatility (4.01%) compared to BIIEX (3.74%). In terms of maximum drawdown, BINV dropped -14.91% vs BIIEX's -58.76%.

Which has better risk-adjusted returns?

BIIEX currently has the higher Sharpe Ratio (1.97 vs 1.72), 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.