BRAZ vs. OTGL

Last updated Jul 17, 2026

BRAZ (Global X Brazil Active ETF) and OTGL (OTG Latin America ETF) are both Latin America Equities funds - BRAZ tracks the Solactive Brazil Mid Cap Index while OTGL tracks the Actively Managed. Both are passively managed. Over the past year, BRAZ returned 31.75% vs 21.23% for OTGL. Their correlation of 0.84 suggests significant overlap in exposure. BRAZ charges 0.75%/yr vs 0.95%/yr for OTGL.

Performance

BRAZ vs. OTGL - Performance Comparison

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

Returns By Period

In the year-to-date period, BRAZ achieves a 9.49% return, which is significantly higher than OTGL's 7.04% return.

BRAZ

• 1D: -1.97%
• 1M: 1.42%
• 6M: 3.52%
• YTD: 9.49%
• 1Y: 31.75%
• 3Y*: —
• 5Y*: —
• 10Y*: —

OTGL

• 1D: -1.04%
• 1M: -1.05%
• 6M: 1.33%
• YTD: 7.04%
• 1Y: 21.23%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BRAZ vs. OTGL - Yearly Performance Comparison

	2026 (YTD)	2025
BRAZ Global X Brazil Active ETF	9.49%	20.97%
OTGL OTG Latin America ETF	7.04%	13.64%

Correlation

The correlation between BRAZ and OTGL is 0.84, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.84
Correlation (All Time) Calculated using the full available price history since Jul 14, 2025	0.84

The correlation between BRAZ and OTGL has been stable across timeframes, ranging from 0.84 to 0.84 - a consistent structural relationship.

Return for Risk

BRAZ vs. OTGL — Risk / Return Rank

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

BRAZ

BRAZ Risk / Return Rank: 41
BRAZ Sharpe Ratio Rank: 45
BRAZ Sortino Ratio Rank: 43
BRAZ Omega Ratio Rank: 42
BRAZ Calmar Ratio Rank: 39
BRAZ Martin Ratio Rank: 35

OTGL

OTGL Risk / Return Rank: 37
OTGL Sharpe Ratio Rank: 38
OTGL Sortino Ratio Rank: 37
OTGL Omega Ratio Rank: 37
OTGL Calmar Ratio Rank: 37
OTGL Martin Ratio Rank: 34

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. OTGL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Brazil Active ETF (BRAZ) and OTG Latin America ETF (OTGL). 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.

	BRAZ	OTGL	Difference
Sharpe ratio: Return per unit of total volatility	1.31	1.12	+0.19
Sortino ratio: Return per unit of downside risk	1.81	1.63	+0.18
Omega ratio: Gain probability vs. loss probability	1.23	1.20	+0.02
Calmar ratio: Return relative to maximum drawdown	1.62	1.58	+0.05
Martin ratio: Return relative to average drawdown	4.25	4.20	+0.05

BRAZ vs. OTGL - Sharpe Ratio Comparison

The current BRAZ Sharpe Ratio is 1.31, which is comparable to the OTGL Sharpe Ratio of 1.12. The chart below compares the historical Sharpe Ratios of BRAZ and OTGL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BRAZ vs. OTGL - Drawdown Comparison

The maximum BRAZ drawdown since its inception was -31.02%, which is greater than OTGL's maximum drawdown of -13.52%. Use the drawdown chart below to compare losses from any high point for BRAZ and OTGL.

Drawdown Indicators

	BRAZ	OTGL	Difference
Max Drawdown Largest peak-to-trough decline	-31.02%	-13.52%	-17.50%
Max Drawdown (1Y) Largest decline over 1 year	-19.65%	-13.52%	-6.13%
Current Drawdown Current decline from peak	-15.72%	-7.76%	-7.96%
Average Drawdown Average peak-to-trough decline	-11.46%	-3.64%	-7.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.49%	5.06%	+2.43%

Volatility

BRAZ vs. OTGL - Volatility Comparison

Global X Brazil Active ETF (BRAZ) has a higher volatility of 5.47% compared to OTG Latin America ETF (OTGL) at 3.81%. This indicates that BRAZ's price experiences larger fluctuations and is considered to be riskier than OTGL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BRAZ	OTGL	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.47%	3.81%	+1.66%
Volatility (6M) Calculated over the trailing 6-month period	19.02%	15.47%	+3.55%
Volatility (1Y) Calculated over the trailing 1-year period	24.32%	18.99%	+5.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.44%	18.91%	+4.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.44%	18.91%	+4.53%

BRAZ vs. OTGL - Expense Ratio Comparison

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

Dividends

BRAZ vs. OTGL - Dividend Comparison

BRAZ's dividend yield for the trailing twelve months is around 2.68%, less than OTGL's 2.78% yield.

Position	TTM	2025	2024	2023
BRAZ Global X Brazil Active ETF	2.68%	3.41%	4.16%	1.88%
OTGL OTG Latin America ETF	2.78%	1.89%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BRAZ and OTGL in my portfolio?

BRAZ and OTGL have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BRAZ or OTGL?

BRAZ has higher volatility (5.47%) compared to OTGL (3.81%). In terms of maximum drawdown, BRAZ dropped -31.02% vs OTGL's -13.52%.

Which ETF is better, BRAZ or OTGL?

On 1-year performance, BRAZ leads with 31.75% vs 21.23% for OTGL. On fees, BRAZ is cheaper at 0.75% per year. On volatility, OTGL has been the lower-risk option at 3.81%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BRAZ or OTGL?

Over the 1-year period, BRAZ has performed better with a 31.75% return vs 21.23%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BRAZ or OTGL?

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

Which ETF pays a higher dividend yield, BRAZ or OTGL?

OTGL has the higher dividend yield at 2.78%, compared with 2.68% for BRAZ.

What is the main difference between BRAZ and OTGL?

BRAZ tracks Solactive Brazil Mid Cap Index, while OTGL tracks Actively Managed. They also come from different issuers: Global X and OTG. Their fees differ too: 0.75% for BRAZ and 0.95% for OTGL.

Which has better risk-adjusted returns?

BRAZ currently has the higher Sharpe Ratio (1.31 vs 1.12), 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.