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BRAZ vs. BZQ
Performance
Return for Risk
Drawdowns
Volatility
Dividends

Performance

BRAZ vs. BZQ - Performance Comparison

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

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Returns By Period

In the year-to-date period, BRAZ achieves a 5.38% return, which is significantly higher than BZQ's -20.90% return.


BRAZ

1D
-1.43%
1M
-6.41%
YTD
5.38%
6M
6.55%
1Y
23.68%
3Y*
5Y*
10Y*

BZQ

1D
0.29%
1M
11.41%
YTD
-20.90%
6M
-22.62%
1Y
-44.16%
3Y*
-19.54%
5Y*
-21.67%
10Y*
-36.26%
*Multi-year figures are annualized to reflect compound growth (CAGR)

BRAZ vs. BZQ - Yearly Performance Comparison


2026 (YTD)202520242023
BRAZ
Global X Brazil Active ETF
5.38%45.42%-29.74%17.80%
BZQ
ProShares UltraShort MSCI Brazil Capped
-20.90%-57.90%98.84%-31.61%

Correlation

The correlation between BRAZ and BZQ is -0.97, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.


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

-0.97

Correlation (All Time)
Calculated using the full available price history since Aug 18, 2023

-0.97

The correlation between BRAZ and BZQ has been stable across timeframes, ranging from -0.97 to -0.97 - a consistent structural relationship.

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Return for Risk

BRAZ vs. BZQ — Risk / Return Rank

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

BRAZ
BRAZ Risk / Return Rank: 2828
Overall Rank
BRAZ Sharpe Ratio Rank: 3030
Sharpe Ratio Rank
BRAZ Sortino Ratio Rank: 2828
Sortino Ratio Rank
BRAZ Omega Ratio Rank: 2828
Omega Ratio Rank
BRAZ Calmar Ratio Rank: 2727
Calmar Ratio Rank
BRAZ Martin Ratio Rank: 2828
Martin Ratio Rank

BZQ
BZQ Risk / Return Rank: 33
Overall Rank
BZQ Sharpe Ratio Rank: 22
Sharpe Ratio Rank
BZQ Sortino Ratio Rank: 22
Sortino Ratio Rank
BZQ Omega Ratio Rank: 33
Omega Ratio Rank
BZQ Calmar Ratio Rank: 33
Calmar Ratio Rank
BZQ Martin Ratio Rank: 44
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.

BRAZ vs. BZQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Brazil Active ETF (BRAZ) and ProShares UltraShort MSCI Brazil Capped (BZQ). 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.


BRAZBZQDifference
Sharpe ratioReturn per unit of total volatility

+1.86

Sortino ratioReturn per unit of downside risk

+2.70

Omega ratioGain probability vs. loss probability

1.18

0.86

+0.32

Calmar ratioReturn relative to maximum drawdown

1.21

-0.68

+1.89

Martin ratioReturn relative to average drawdown

3.56

-1.06

+4.62

BRAZ vs. BZQ - Sharpe Ratio Comparison

The current BRAZ Sharpe Ratio is 0.98, which is higher than the BZQ Sharpe Ratio of -0.89. The chart below compares the historical Sharpe Ratios of BRAZ and BZQ, 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

BRAZ vs. BZQ - Drawdown Comparison

The maximum BRAZ drawdown since its inception was -31.02%, smaller than the maximum BZQ drawdown of -99.82%. Use the drawdown chart below to compare losses from any high point for BRAZ and BZQ.


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Drawdown Indicators


BRAZBZQDifference

Max Drawdown

Largest peak-to-trough decline

-31.02%

-99.82%

+68.80%

Max Drawdown (1Y)

Largest decline over 1 year

-19.65%

-65.20%

+45.55%

Max Drawdown (3Y)

Largest decline over 3 years

-77.31%

Max Drawdown (5Y)

Largest decline over 5 years

-88.65%

Max Drawdown (10Y)

Largest decline over 10 years

-99.26%

Current Drawdown

Current decline from peak

-18.88%

-99.74%

+80.86%

Average Drawdown

Average peak-to-trough decline

-11.36%

-84.56%

+73.20%

Ulcer Index

Depth and duration of drawdowns from previous peaks

6.67%

41.60%

-34.93%

Volatility

BRAZ vs. BZQ - Volatility Comparison

The current volatility for Global X Brazil Active ETF (BRAZ) is 5.45%, while ProShares UltraShort MSCI Brazil Capped (BZQ) has a volatility of 11.78%. This indicates that BRAZ experiences smaller price fluctuations and is considered to be less risky than BZQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.


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Volatility by Period


BRAZBZQDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.45%

11.78%

-6.33%

Volatility (6M)

Calculated over the trailing 6-month period

19.11%

39.48%

-20.37%

Volatility (1Y)

Calculated over the trailing 1-year period

24.40%

50.03%

-25.63%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

23.52%

55.31%

-31.79%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

23.52%

66.73%

-43.21%

BRAZ vs. BZQ - Expense Ratio Comparison

BRAZ has a 0.75% expense ratio, which is lower than BZQ's 0.95% expense ratio.


Dividends

BRAZ vs. BZQ - Dividend Comparison

BRAZ's dividend yield for the trailing twelve months is around 3.24%, less than BZQ's 6.98% yield.


PositionTTM20252024202320222021202020192018
BRAZ
Global X Brazil Active ETF
3.24%3.41%4.16%1.88%0.00%0.00%0.00%0.00%0.00%
BZQ
ProShares UltraShort MSCI Brazil Capped
6.98%5.96%3.26%4.51%0.22%0.00%0.21%2.13%0.28%

Frequently Asked Questions


BRAZ and BZQ have a correlation of -0.97, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

BZQ has higher volatility (11.78%) compared to BRAZ (5.45%). In terms of maximum drawdown, BRAZ dropped -31.02% vs BZQ's -99.82%.

On 1-year performance, BRAZ leads with 23.68% vs -44.16% for BZQ. On fees, BRAZ is cheaper at 0.75% per year. On volatility, BRAZ has been the lower-risk option at 5.45%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 1-year period, BRAZ has performed better with a 23.68% return vs -44.16%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

BRAZ is cheaper with a 0.75% expense ratio, compared with 0.95% for BZQ.

BZQ has the higher dividend yield at 6.98%, compared with 3.24% for BRAZ.

BRAZ is categorized as Latin America Equities, while BZQ is Leveraged Equities. BRAZ tracks Solactive Brazil Mid Cap Index, while BZQ tracks MSCI Brazil 25-50 (-200%). They also come from different issuers: Global X and ProShares. Their fees differ too: 0.75% for BRAZ and 0.95% for BZQ.

BRAZ currently has the higher Sharpe Ratio (0.98 vs -0.89), 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.

Portfolio Optimizer

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