BRAZ vs. ILF

Last updated Apr 1, 2026

Compare and contrast key facts about Global X Brazil Active ETF (BRAZ) and iShares Latin American 40 ETF (ILF).

BRAZ and ILF are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. BRAZ is a passively managed fund by Global X that tracks the performance of the Solactive Brazil Mid Cap Index. It was launched on Aug 16, 2023. ILF is a passively managed fund by iShares that tracks the performance of the S&P Latin America 40 Index. It was launched on Oct 25, 2001. Both BRAZ and ILF are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

BRAZ vs. ILF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X Brazil Active ETF (BRAZ) and iShares Latin American 40 ETF (ILF). The values are adjusted to include any dividend payments, if applicable.

BRAZ vs. ILF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
BRAZ Global X Brazil Active ETF	17.07%	45.42%	-29.74%	17.56%
ILF iShares Latin American 40 ETF	16.65%	52.65%	-23.11%	15.42%

Returns By Period

The year-to-date returns for both stocks are quite close, with BRAZ having a 17.07% return and ILF slightly lower at 16.65%.

BRAZ

• 1D: 2.49%
• 1M: -3.15%
• YTD: 17.07%
• 6M: 24.77%
• 1Y: 52.97%
• 3Y*: —
• 5Y*: —
• 10Y*: —

ILF

• 1D: 4.41%
• 1M: -2.63%
• YTD: 16.65%
• 6M: 25.92%
• 1Y: 58.11%
• 3Y*: 20.46%
• 5Y*: 13.16%
• 10Y*: 8.47%

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

BRAZ vs. ILF - Expense Ratio Comparison

BRAZ has a 0.75% expense ratio, which is higher than ILF's 0.48% expense ratio.

BRAZ

Global X Brazil Active ETF

ILF

iShares Latin American 40 ETF

Return for Risk

BRAZ vs. ILF — Risk / Return Rank

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

BRAZ

BRAZ Risk / Return Rank: 92
BRAZ Sharpe Ratio Rank: 92
BRAZ Sortino Ratio Rank: 91
BRAZ Omega Ratio Rank: 87
BRAZ Calmar Ratio Rank: 97
BRAZ Martin Ratio Rank: 92

ILF

ILF Risk / Return Rank: 95
ILF Sharpe Ratio Rank: 96
ILF Sortino Ratio Rank: 95
ILF Omega Ratio Rank: 94
ILF Calmar Ratio Rank: 96
ILF Martin Ratio Rank: 95

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. ILF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Brazil Active ETF (BRAZ) and iShares Latin American 40 ETF (ILF). 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.

	BRAZ	ILF	Difference
Sharpe ratio Return per unit of total volatility	2.10	2.48	-0.38
Sortino ratio Return per unit of downside risk	2.66	3.06	-0.40
Omega ratio Gain probability vs. loss probability	1.36	1.43	-0.07
Calmar ratio Return relative to maximum drawdown	4.76	4.47	+0.29
Martin ratio Return relative to average drawdown	13.26	15.54	-2.28
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BRAZ vs. ILF - Sharpe Ratio Comparison

The current BRAZ Sharpe Ratio is 2.10, which is comparable to the ILF Sharpe Ratio of 2.48. The chart below compares the historical Sharpe Ratios of BRAZ and ILF, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	BRAZ	ILF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.10	2.48	-0.38
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.57	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.30	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.59	0.31	+0.29

Correlation

The correlation between BRAZ and ILF is 0.91, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

BRAZ vs. ILF - Dividend Comparison

BRAZ's dividend yield for the trailing twelve months is around 2.91%, less than ILF's 3.76% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BRAZ Global X Brazil Active ETF	2.91%	3.41%	4.16%	1.88%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
ILF iShares Latin American 40 ETF	3.76%	4.39%	7.44%	4.61%	12.72%	8.47%	1.88%	3.09%	3.12%	1.80%	1.59%	3.25%

Drawdowns

BRAZ vs. ILF - Drawdown Comparison

The maximum BRAZ drawdown since its inception was -31.02%, smaller than the maximum ILF drawdown of -67.48%. Use the drawdown chart below to compare losses from any high point for BRAZ and ILF.

Drawdown Indicators

	BRAZ	ILF	Difference
Max Drawdown Largest peak-to-trough decline	-31.02%	-67.48%	+36.46%
Max Drawdown (1Y) Largest decline over 1 year	-10.93%	-12.67%	+1.74%
Max Drawdown (5Y) Largest decline over 5 years	—	-29.71%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-57.79%	—
Current Drawdown Current decline from peak	-4.98%	-4.82%	-0.16%
Average Drawdown Average peak-to-trough decline	-11.54%	-24.07%	+12.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.93%	3.65%	+0.28%

Volatility

BRAZ vs. ILF - Volatility Comparison

The current volatility for Global X Brazil Active ETF (BRAZ) is 10.90%, while iShares Latin American 40 ETF (ILF) has a volatility of 11.60%. This indicates that BRAZ experiences smaller price fluctuations and is considered to be less risky than ILF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BRAZ	ILF	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.90%	11.60%	-0.70%
Volatility (6M) Calculated over the trailing 6-month period	19.31%	17.90%	+1.41%
Volatility (1Y) Calculated over the trailing 1-year period	25.40%	23.59%	+1.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.60%	23.24%	+0.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.60%	28.59%	-4.99%