BUG vs. MELI

Last updated Jun 9, 2026

BUG (Global X Cybersecurity ETF) is Technology Equities fund tracking the Indxx Cybersecurity Index, while MELI (MercadoLibre, Inc.) is a stock. Over the past 5 years, BUG returned 5.10%/yr vs 4.13%/yr for MELI. A 0.54 correlation means they provide meaningful diversification when combined.

Performance

BUG vs. MELI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X Cybersecurity ETF (BUG) and MercadoLibre, Inc. (MELI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BUG achieves a 14.02% return, which is significantly higher than MELI's -19.97% return.

BUG

• 1D: -1.39%
• 1M: 12.72%
• YTD: 14.02%
• 6M: 7.90%
• 1Y: -4.05%
• 3Y*: 13.63%
• 5Y*: 5.10%
• 10Y*: —

MELI

• 1D: 0.26%
• 1M: -1.26%
• YTD: -19.97%
• 6M: -22.81%
• 1Y: -35.06%
• 3Y*: 10.08%
• 5Y*: 4.13%
• 10Y*: 28.28%

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

BUG vs. MELI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
BUG Global X Cybersecurity ETF	14.02%	-5.04%	9.59%	41.40%	-33.63%	13.24%	70.83%	6.55%
MELI MercadoLibre, Inc.	-19.97%	18.46%	8.20%	85.71%	-37.24%	-19.51%	192.90%	9.67%

Correlation

The correlation between BUG and MELI is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.30
Correlation (3Y) Calculated over the trailing 3-year period	0.38
Correlation (5Y) Calculated over the trailing 5-year period	0.51
Correlation (All Time) Calculated using the full available price history since Nov 1, 2019	0.54

Over the past year, the correlation between BUG and MELI has dropped to 0.30 - well below their long-term average of 0.54, suggesting their price drivers have been diverging.

Return for Risk

BUG vs. MELI — Risk / Return Rank

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

BUG

BUG Risk / Return Rank: 8
BUG Sharpe Ratio Rank: 8
BUG Sortino Ratio Rank: 8
BUG Omega Ratio Rank: 8
BUG Calmar Ratio Rank: 8
BUG Martin Ratio Rank: 8

MELI

MELI Risk / Return Rank: 8
MELI Sharpe Ratio Rank: 7
MELI Sortino Ratio Rank: 10
MELI Omega Ratio Rank: 9
MELI Calmar Ratio Rank: 8
MELI Martin Ratio Rank: 5

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.

BUG vs. MELI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Cybersecurity ETF (BUG) and MercadoLibre, Inc. (MELI). 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.

	BUG	MELI	Difference
Sharpe ratio: Return per unit of total volatility	-0.13	-0.89	+0.76
Sortino ratio: Return per unit of downside risk	0.03	-1.14	+1.17
Omega ratio: Gain probability vs. loss probability	1.00	0.85	+0.15
Calmar ratio: Return relative to maximum drawdown	-0.11	-0.86	+0.75
Martin ratio: Return relative to average drawdown	-0.22	-1.54	+1.32
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BUG vs. MELI - Sharpe Ratio Comparison

The current BUG Sharpe Ratio is -0.13, which is higher than the MELI Sharpe Ratio of -0.89. The chart below compares the historical Sharpe Ratios of BUG and MELI, 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

	BUG	MELI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.13	-0.89	+0.76
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.18	0.08	+0.10
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.58	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.46	0.44	+0.02

Drawdowns

BUG vs. MELI - Drawdown Comparison

The maximum BUG drawdown since its inception was -41.66%, smaller than the maximum MELI drawdown of -89.49%. Use the drawdown chart below to compare losses from any high point for BUG and MELI.

Drawdown Indicators

	BUG	MELI	Difference
Max Drawdown Largest peak-to-trough decline	-41.66%	-89.49%	+47.83%
Max Drawdown (1Y) Largest decline over 1 year	-37.69%	-40.82%	+3.13%
Max Drawdown (3Y) Largest decline over 3 years	-37.69%	-40.82%	+3.13%
Max Drawdown (5Y) Largest decline over 5 years	-41.66%	-68.64%	+26.98%
Max Drawdown (10Y) Largest decline over 10 years	—	-69.12%	—
Current Drawdown Current decline from peak	-9.91%	-38.32%	+28.41%
Average Drawdown Average peak-to-trough decline	-14.41%	-23.58%	+9.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	18.38%	22.74%	-4.36%

Volatility

BUG vs. MELI - Volatility Comparison

The current volatility for Global X Cybersecurity ETF (BUG) is 14.65%, while MercadoLibre, Inc. (MELI) has a volatility of 17.04%. This indicates that BUG experiences smaller price fluctuations and is considered to be less risky than MELI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BUG	MELI	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.65%	17.04%	-2.39%
Volatility (6M) Calculated over the trailing 6-month period	26.06%	30.13%	-4.07%
Volatility (1Y) Calculated over the trailing 1-year period	31.04%	39.42%	-8.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	28.51%	49.68%	-21.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.34%	48.89%	-19.55%

Dividends

BUG vs. MELI - Dividend Comparison

BUG's dividend yield for the trailing twelve months is around 0.03%, while MELI has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BUG Global X Cybersecurity ETF	0.03%	0.04%	0.09%	0.10%	1.56%	0.66%	0.46%	0.24%	0.00%	0.00%	0.00%	0.00%
MELI MercadoLibre, Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.19%	0.38%	0.36%

Frequently Asked Questions

Can I hold both BUG and MELI in my portfolio?

BUG and MELI have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BUG or MELI?

MELI has higher volatility (17.04%) compared to BUG (14.65%). In terms of maximum drawdown, BUG dropped -41.66% vs MELI's -89.49%.

Which has better risk-adjusted returns?

BUG currently has the higher Sharpe Ratio (-0.13 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.