CMX1.L vs. LTAM.L
CMX1.L (iShares MSCI Mexico Capped UCITS ETF USD (Acc)) and LTAM.L (iShares MSCI EM Latin America UCITS ETF USD (Dist)) are both Latin America Equities funds from iShares - CMX1.L tracks the MSCI Mexico Capped Index (Net Return Index) while LTAM.L tracks the MSCI EM Latin America NR USD. Both are passively managed. Over the past 10 years, CMX1.L returned 6.56%/yr vs 6.57%/yr for LTAM.L. A 0.66 correlation means they provide meaningful diversification when combined. CMX1.L charges 0.65%/yr vs 0.20%/yr for LTAM.L.
Performance
CMX1.L vs. LTAM.L - Performance Comparison
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Returns By Period
In the year-to-date period, CMX1.L achieves a 10.08% return, which is significantly lower than LTAM.L's 13.89% return. Both investments have delivered pretty close results over the past 10 years, with CMX1.L having a 6.56% annualized return and LTAM.L not far ahead at 6.57%.
CMX1.L
- 1D
- -0.10%
- 1M
- -5.39%
- 6M
- 4.32%
- YTD
- 10.08%
- 1Y
- 32.57%
- 3Y*
- 9.55%
- 5Y*
- 13.21%
- 10Y*
- 6.56%
LTAM.L
- 1D
- -0.83%
- 1M
- -0.51%
- 6M
- 7.65%
- YTD
- 13.89%
- 1Y
- 38.81%
- 3Y*
- 11.07%
- 5Y*
- 10.40%
- 10Y*
- 6.57%
CMX1.L vs. LTAM.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CMX1.L iShares MSCI Mexico Capped UCITS ETF USD (Acc) | 10.08% | 46.33% | -26.86% | 30.17% | 10.63% | 20.72% | -3.47% | 6.36% | -8.97% | 2.96% |
LTAM.L iShares MSCI EM Latin America UCITS ETF USD (Dist) | 13.89% | 43.14% | -25.65% | 26.15% | 20.89% | -8.55% | -14.15% | 9.44% | -0.19% | 11.17% |
Correlation
The correlation between CMX1.L and LTAM.L is 0.68, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.68 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.69 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.66 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.68 |
Correlation (All Time) Calculated using the full available price history since Aug 25, 2010 | 0.66 |
The correlation between CMX1.L and LTAM.L has been stable across timeframes, ranging from 0.66 to 0.69 - a consistent structural relationship.
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Return for Risk
CMX1.L vs. LTAM.L — Risk / Return Rank
CMX1.L
LTAM.L
CMX1.L vs. LTAM.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Mexico Capped UCITS ETF USD (Acc) (CMX1.L) and iShares MSCI EM Latin America UCITS ETF USD (Dist) (LTAM.L). 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.
| CMX1.L | LTAM.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.52 | ||
| Sortino ratioReturn per unit of downside risk | -0.64 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.36 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 2.47 | 2.81 | -0.34 |
| Martin ratioReturn relative to average drawdown | 8.66 | 7.80 | +0.86 |
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Drawdowns
CMX1.L vs. LTAM.L - Drawdown Comparison
The maximum CMX1.L drawdown since its inception was -98.52%, which is greater than LTAM.L's maximum drawdown of -77.98%. Use the drawdown chart below to compare losses from any high point for CMX1.L and LTAM.L.
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Drawdown Indicators
| CMX1.L | LTAM.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.52% | -77.98% | -20.54% |
Max Drawdown (1Y)Largest decline over 1 year | -13.03% | -13.73% | +0.70% |
Max Drawdown (3Y)Largest decline over 3 years | -35.93% | -26.09% | -9.84% |
Max Drawdown (5Y)Largest decline over 5 years | -35.93% | -26.09% | -9.84% |
Max Drawdown (10Y)Largest decline over 10 years | -50.58% | -48.10% | -2.48% |
Current DrawdownCurrent decline from peak | -6.25% | -17.83% | +11.58% |
Average DrawdownAverage peak-to-trough decline | -15.85% | -48.01% | +32.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.72% | 4.96% | -1.24% |
Volatility
CMX1.L vs. LTAM.L - Volatility Comparison
iShares MSCI Mexico Capped UCITS ETF USD (Acc) (CMX1.L) has a higher volatility of 5.90% compared to iShares MSCI EM Latin America UCITS ETF USD (Dist) (LTAM.L) at 4.77%. This indicates that CMX1.L's price experiences larger fluctuations and is considered to be riskier than LTAM.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CMX1.L | LTAM.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.90% | 4.77% | +1.13% |
Volatility (6M)Calculated over the trailing 6-month period | 16.92% | 14.89% | +2.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.19% | 18.30% | +1.89% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.25% | 20.50% | +4.75% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.83% | 24.82% | +1.01% |
CMX1.L vs. LTAM.L - Expense Ratio Comparison
CMX1.L has a 0.65% expense ratio, which is higher than LTAM.L's 0.20% expense ratio.
Dividends
CMX1.L vs. LTAM.L - Dividend Comparison
CMX1.L has not paid dividends to shareholders, while LTAM.L's dividend yield for the trailing twelve months is around 3.44%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CMX1.L iShares MSCI Mexico Capped UCITS ETF USD (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
LTAM.L iShares MSCI EM Latin America UCITS ETF USD (Dist) | 3.44% | 3.61% | 5.69% | 4.33% | 6.86% | 3.17% | 1.82% | 2.38% | 2.10% | 1.52% | 1.32% | 2.89% |
Frequently Asked Questions
CMX1.L and LTAM.L have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, LTAM.L is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
LTAM.L is cheaper with a 0.20% expense ratio, compared with 0.65% for CMX1.L.
CMX1.L tracks MSCI Mexico Capped Index (Net Return Index), while LTAM.L tracks MSCI EM Latin America NR USD. Their fees differ too: 0.65% for CMX1.L and 0.20% for LTAM.L.
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