COLO vs. BRAZ

Last updated Jun 4, 2026

COLO (Global X MSCI Colombia ETF) and BRAZ (Global X Brazil Active ETF) are both Latin America Equities funds from Global X - COLO tracks the MSCI All Colombia Select 25/50 Index while BRAZ tracks the Solactive Brazil Mid Cap Index. Both are passively managed. Over the past year, COLO returned 48.73% vs 32.60% for BRAZ. At a 0.49 correlation, their price movements are largely independent. COLO charges 0.62%/yr vs 0.75%/yr for BRAZ.

Performance

COLO vs. BRAZ - Performance Comparison

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

Returns By Period

In the year-to-date period, COLO achieves a 14.14% return, which is significantly higher than BRAZ's 9.24% return.

COLO

• 1D: -2.42%
• 1M: 8.62%
• YTD: 14.14%
• 6M: 13.91%
• 1Y: 48.73%
• 3Y*: 34.47%
• 5Y*: 14.34%
• 10Y*: 6.37%

BRAZ

• 1D: -1.64%
• 1M: -10.10%
• YTD: 9.24%
• 6M: 4.93%
• 1Y: 32.60%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

COLO vs. BRAZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
COLO Global X MSCI Colombia ETF	14.14%	68.88%	4.68%	17.29%
BRAZ Global X Brazil Active ETF	9.24%	45.42%	-29.74%	17.56%

Correlation

The correlation between COLO and BRAZ is 0.53, 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	0.53
Correlation (All Time) Calculated using the full available price history since Aug 21, 2023	0.49

The correlation between COLO and BRAZ has been stable across timeframes, ranging from 0.49 to 0.53 - a consistent structural relationship.

COLO vs. BRAZ - Sectors Allocation Comparison

Sectors	COLO	BRAZ
Financial Services	39.3%	38.2%
Basic Materials	18.4%	13.4%
Utilities	17.7%	10.1%
Energy	17.3%	18.3%
Communication Services	3.4%	-
Industrials	2.4%	6.7%
Consumer Cyclical	1.5%	3.7%
Consumer Defensive	-	1.5%
Healthcare	-	2.3%
Real Estate	-	2.8%
Technology	-	0.9%

Return for Risk

COLO vs. BRAZ — Risk / Return Rank

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

COLO

COLO Risk / Return Rank: 60
COLO Sharpe Ratio Rank: 67
COLO Sortino Ratio Rank: 66
COLO Omega Ratio Rank: 64
COLO Calmar Ratio Rank: 56
COLO Martin Ratio Rank: 45

BRAZ

BRAZ Risk / Return Rank: 38
BRAZ Sharpe Ratio Rank: 38
BRAZ Sortino Ratio Rank: 35
BRAZ Omega Ratio Rank: 35
BRAZ Calmar Ratio Rank: 42
BRAZ Martin Ratio Rank: 40

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.

COLO vs. BRAZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X MSCI Colombia ETF (COLO) and Global X Brazil Active ETF (BRAZ). 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.

	COLO	BRAZ	Difference
Sharpe ratio: Return per unit of total volatility	2.21	1.36	+0.85
Sortino ratio: Return per unit of downside risk	3.02	1.85	+1.17
Omega ratio: Gain probability vs. loss probability	1.39	1.24	+0.15
Calmar ratio: Return relative to maximum drawdown	2.75	2.06	+0.69
Martin ratio: Return relative to average drawdown	7.53	6.33	+1.21
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

COLO vs. BRAZ - Sharpe Ratio Comparison

The current COLO Sharpe Ratio is 2.21, which is higher than the BRAZ Sharpe Ratio of 1.36. The chart below compares the historical Sharpe Ratios of COLO and BRAZ, 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

	COLO	BRAZ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.21	1.36	+0.85
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.62	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.25	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.22	0.44	-0.22

Drawdowns

COLO vs. BRAZ - Drawdown Comparison

The maximum COLO drawdown since its inception was -78.91%, which is greater than BRAZ's maximum drawdown of -31.02%. Use the drawdown chart below to compare losses from any high point for COLO and BRAZ.

Drawdown Indicators

	COLO	BRAZ	Difference
Max Drawdown Largest peak-to-trough decline	-78.91%	-31.02%	-47.89%
Max Drawdown (1Y) Largest decline over 1 year	-17.79%	-15.91%	-1.88%
Max Drawdown (3Y) Largest decline over 3 years	-18.35%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-43.86%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-62.75%	—	—
Current Drawdown Current decline from peak	-22.51%	-15.91%	-6.60%
Average Drawdown Average peak-to-trough decline	-40.32%	-11.25%	-29.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.49%	5.17%	+1.32%

Volatility

COLO vs. BRAZ - Volatility Comparison

Global X MSCI Colombia ETF (COLO) has a higher volatility of 10.70% compared to Global X Brazil Active ETF (BRAZ) at 6.95%. This indicates that COLO's price experiences larger fluctuations and is considered to be riskier than BRAZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	COLO	BRAZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.70%	6.95%	+3.75%
Volatility (6M) Calculated over the trailing 6-month period	19.42%	20.04%	-0.62%
Volatility (1Y) Calculated over the trailing 1-year period	22.28%	24.14%	-1.86%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.21%	23.58%	-0.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.44%	23.58%	+1.86%

COLO vs. BRAZ - Expense Ratio Comparison

COLO has a 0.62% expense ratio, which is lower than BRAZ's 0.75% expense ratio.

Dividends

COLO vs. BRAZ - Dividend Comparison

COLO's dividend yield for the trailing twelve months is around 6.58%, more than BRAZ's 3.12% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BRAZ Global X Brazil Active ETF	3.12%	3.41%	4.16%	1.88%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
COLO Global X MSCI Colombia ETF	6.58%	7.51%	6.08%	6.99%	12.55%	2.32%	3.23%	3.04%	3.03%	1.83%	1.48%	1.58%

Frequently Asked Questions

Can I hold both COLO and BRAZ in my portfolio?

COLO and BRAZ have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, COLO or BRAZ?

COLO has higher volatility (10.70%) compared to BRAZ (6.95%). In terms of maximum drawdown, COLO dropped -78.91% vs BRAZ's -31.02%.

Which ETF is better, COLO or BRAZ?

On 1-year performance, COLO leads with 48.73% vs 32.60% for BRAZ. On fees, COLO is cheaper at 0.62% per year. On volatility, BRAZ has been the lower-risk option at 6.95%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, COLO or BRAZ?

Over the 1-year period, COLO has performed better with a 48.73% return vs 32.60%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, COLO or BRAZ?

COLO is cheaper with a 0.62% expense ratio, compared with 0.75% for BRAZ.

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

COLO has the higher dividend yield at 6.58%, compared with 3.12% for BRAZ.

What is the main difference between COLO and BRAZ?

COLO tracks MSCI All Colombia Select 25/50 Index, while BRAZ tracks Solactive Brazil Mid Cap Index. Their fees differ too: 0.62% for COLO and 0.75% for BRAZ.

Which has better risk-adjusted returns?

COLO currently has the higher Sharpe Ratio (2.21 vs 1.36), 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.