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DHT vs. EWZ
Performance
Return for Risk
Drawdowns
Volatility
Dividends

DHT vs. EWZ

Last updated Jul 11, 2026
Documentation

DHT (DHT Holdings, Inc.) is a stock, while EWZ (iShares MSCI Brazil ETF) is Latin America Equities fund tracking the MSCI Brazil 25/50 Index. Over the past 10 years, DHT returned 22.43%/yr vs 6.86%/yr for EWZ. At a 0.32 correlation, their price movements are largely independent.

Performance

DHT vs. EWZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in DHT Holdings, Inc. (DHT) and iShares MSCI Brazil ETF (EWZ). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, DHT achieves a 54.52% return, which is significantly higher than EWZ's 14.17% return. Over the past 10 years, DHT has outperformed EWZ with an annualized return of 22.43%, while EWZ has yielded a comparatively lower 6.86% annualized return.

DHT

1D
4.90%
1M
6.67%
6M
40.59%
YTD
54.52%
1Y
74.34%
3Y*
37.73%
5Y*
32.02%
10Y*
22.43%

EWZ

1D
2.77%
1M
4.20%
6M
9.71%
YTD
14.17%
1Y
36.37%
3Y*
10.52%
5Y*
6.56%
10Y*
6.86%
*Multi-year figures are annualized to reflect compound growth (CAGR)

DHT vs. EWZ - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
DHT
DHT Holdings, Inc.		54.52%40.04%3.58%24.07%73.87%1.41%-20.52%118.96%11.32%-9.26%
EWZ
iShares MSCI Brazil ETF		14.17%48.81%-30.41%32.62%12.09%-17.32%-20.35%27.67%-2.52%23.62%

Correlation

The correlation between DHT and EWZ is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.23

Correlation (3Y)
Calculated over the trailing 3-year period

0.19

Correlation (5Y)
Calculated over the trailing 5-year period

0.23

Correlation (10Y)
Calculated over the trailing 10-year period

0.26

Correlation (All Time)
Calculated using the full available price history since Oct 13, 2005

0.32

The correlation between DHT and EWZ shifts across timeframes, from 0.19 (3 years) to 0.32 (all time), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

DHT Holdings, Inc.

iShares MSCI Brazil ETF

Often compared with DHT:
DHT vs. FRODHT vs. STNGDHT vs. ASCDHT vs. GSLDHT vs. SCHYDHT vs. HAFNDHT vs. PBR
Often compared with EWZ:
EWZ vs. EWZSEWZ vs. SPYEWZ vs. FLBREWZ vs. ILFEWZ vs. EWWEWZ vs. IBZL.LEWZ vs. ARGT

Return for Risk

DHT vs. EWZ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
DHT
DHT Risk / Return Rank: 9191
Overall Rank
DHT Sharpe Ratio Rank: 9393
Sharpe Ratio Rank
DHT Sortino Ratio Rank: 9090
Sortino Ratio Rank
DHT Omega Ratio Rank: 8787
Omega Ratio Rank
DHT Calmar Ratio Rank: 9393
Calmar Ratio Rank
DHT Martin Ratio Rank: 9191
Martin Ratio Rank
EWZ
EWZ Risk / Return Rank: 4747
Overall Rank
EWZ Sharpe Ratio Rank: 5151
Sharpe Ratio Rank
EWZ Sortino Ratio Rank: 4949
Sortino Ratio Rank
EWZ Omega Ratio Rank: 4848
Omega Ratio Rank
EWZ Calmar Ratio Rank: 4545
Calmar Ratio Rank
EWZ Martin Ratio Rank: 3939
Martin Ratio Rank
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.

DHT vs. EWZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for DHT Holdings, Inc. (DHT) and iShares MSCI Brazil ETF (EWZ). 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.

DHTEWZDifference
Sharpe ratioReturn per unit of total volatility
2.16
1.43

+0.73

Sortino ratioReturn per unit of downside risk
2.84
1.96

+0.88

Omega ratioGain probability vs. loss probability

1.34

1.25

+0.09

Calmar ratioReturn relative to maximum drawdown

4.51

1.85

+2.67

Martin ratioReturn relative to average drawdown

10.76

4.94

+5.83

DHT vs. EWZ - Sharpe Ratio Comparison

The current DHT Sharpe Ratio is 2.16, which is higher than the EWZ Sharpe Ratio of 1.43. The chart below compares the historical Sharpe Ratios of DHT and EWZ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

DHT vs. EWZ - Drawdown Comparison

The maximum DHT drawdown since its inception was -97.12%, which is greater than EWZ's maximum drawdown of -77.25%. Use the drawdown chart below to compare losses from any high point for DHT and EWZ.

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Drawdown Indicators

DHTEWZDifference

Max Drawdown

Largest peak-to-trough decline

-97.12%

-77.25%

-19.87%

Max Drawdown (1Y)

Largest decline over 1 year

-17.18%

-19.27%

+2.09%

Max Drawdown (3Y)

Largest decline over 3 years

-24.96%

-31.36%

+6.40%

Max Drawdown (5Y)

Largest decline over 5 years

-34.44%

-32.24%

-2.20%

Max Drawdown (10Y)

Largest decline over 10 years

-39.56%

-56.99%

+17.43%

Current Drawdown

Current decline from peak

-64.33%

-20.49%

-43.84%

Average Drawdown

Average peak-to-trough decline

-76.31%

-35.90%

-40.41%

Ulcer Index

Depth and duration of drawdowns from previous peaks

7.19%

7.20%

-0.01%

Volatility

DHT vs. EWZ - Volatility Comparison

DHT Holdings, Inc. (DHT) has a higher volatility of 16.06% compared to iShares MSCI Brazil ETF (EWZ) at 5.74%. This indicates that DHT's price experiences larger fluctuations and is considered to be riskier than EWZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

DHTEWZDifference

Volatility (1M)

Calculated over the trailing 1-month period

16.06%

5.74%

+10.32%

Volatility (6M)

Calculated over the trailing 6-month period

29.23%

19.70%

+9.53%

Volatility (1Y)

Calculated over the trailing 1-year period

36.01%

24.98%

+11.03%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

38.70%

27.60%

+11.10%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

41.66%

33.90%

+7.76%

Dividends

DHT vs. EWZ - Dividend Comparison

DHT's dividend yield for the trailing twelve months is around 8.28%, more than EWZ's 4.07% yield.

PositionTTM20252024202320222021202020192018201720162015
DHT
DHT Holdings, Inc.		8.28%6.06%10.76%11.72%1.35%2.50%25.81%2.42%2.04%5.57%17.15%6.55%
EWZ
iShares MSCI Brazil ETF		4.07%5.19%8.91%5.66%12.59%9.87%1.71%2.54%2.89%1.71%1.81%4.08%

Frequently Asked Questions

DHT and EWZ have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

DHT has higher volatility (16.06%) compared to EWZ (5.74%). In terms of maximum drawdown, DHT dropped -97.12% vs EWZ's -77.25%.

DHT currently has the higher Sharpe Ratio (2.16 vs 1.43), 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.

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