DLTM.L vs. IBZL.L
DLTM.L (iShares MSCI EM Latin America UCITS ETF) and IBZL.L (iShares MSCI Brazil UCITS ETF (Dist)) are both Latin America Equities funds from iShares - DLTM.L tracks the MSCI EM Latin America NR USD while IBZL.L tracks the MSCI Brazil NR USD. Both are passively managed. Over the past 10 years, DLTM.L returned 7.49%/yr vs 8.90%/yr for IBZL.L. Their correlation of 0.80 suggests significant overlap in exposure. Both charge a 0.74% expense ratio.
Performance
DLTM.L vs. IBZL.L - Performance Comparison
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Different Trading Currencies
DLTM.L is traded in USD, while IBZL.L is traded in GBp. To make them comparable, the IBZL.L values have been converted to USD using the latest available exchange rates.
Returns By Period
The year-to-date returns for both stocks are quite close, with DLTM.L having a 9.93% return and IBZL.L slightly lower at 9.89%. Over the past 10 years, DLTM.L has underperformed IBZL.L with an annualized return of 7.49%, while IBZL.L has yielded a comparatively higher 8.90% annualized return.
DLTM.L
- 1D
- -0.71%
- 1M
- -7.84%
- YTD
- 9.93%
- 6M
- 8.15%
- 1Y
- 36.25%
- 3Y*
- 13.43%
- 5Y*
- 8.58%
- 10Y*
- 7.49%
IBZL.L
- 1D
- 0.23%
- 1M
- -12.75%
- YTD
- 9.89%
- 6M
- 4.50%
- 1Y
- 34.82%
- 3Y*
- 12.21%
- 5Y*
- 7.29%
- 10Y*
- 8.90%
DLTM.L vs. IBZL.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DLTM.L iShares MSCI EM Latin America UCITS ETF | 9.93% | 54.43% | -26.89% | 33.42% | 7.99% | -9.75% | -11.20% | 12.80% | -5.26% | 21.02% |
IBZL.L iShares MSCI Brazil UCITS ETF (Dist) | 9.89% | 48.72% | -27.27% | 32.24% | 17.93% | -19.79% | -14.18% | 20.03% | -2.25% | 25.70% |
Correlation
The correlation between DLTM.L and IBZL.L is 0.89, 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 | 0.89 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.90 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.90 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.91 |
Correlation (All Time) Calculated using the full available price history since Oct 19, 2007 | 0.80 |
The correlation between DLTM.L and IBZL.L shifts across timeframes, from 0.80 (all time) to 0.91 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
DLTM.L vs. IBZL.L — Risk / Return Rank
DLTM.L
IBZL.L
DLTM.L vs. IBZL.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI EM Latin America UCITS ETF (DLTM.L) and iShares MSCI Brazil UCITS ETF (Dist) (IBZL.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.
| DLTM.L | IBZL.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.29 | ||
| Sortino ratioReturn per unit of downside risk | +0.41 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.26 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.93 | 1.98 | +0.95 |
| Martin ratioReturn relative to average drawdown | 8.45 | 6.44 | +2.01 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| DLTM.L | IBZL.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.79 | 1.49 | +0.29 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.38 | 0.26 | +0.11 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.28 | 0.27 | +0.01 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.05 | 0.07 | -0.01 |
Drawdowns
DLTM.L vs. IBZL.L - Drawdown Comparison
The maximum DLTM.L drawdown since its inception was -64.38%, smaller than the maximum IBZL.L drawdown of -74.68%. Use the drawdown chart below to compare losses from any high point for DLTM.L and IBZL.L.
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Drawdown Indicators
| DLTM.L | IBZL.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -64.38% | -74.68% | +10.30% |
Max Drawdown (1Y)Largest decline over 1 year | -12.31% | -17.50% | +5.19% |
Max Drawdown (3Y)Largest decline over 3 years | -27.83% | -28.97% | +1.14% |
Max Drawdown (5Y)Largest decline over 5 years | -29.02% | -29.95% | +0.93% |
Max Drawdown (10Y)Largest decline over 10 years | -54.87% | -54.22% | -0.65% |
Current DrawdownCurrent decline from peak | -12.31% | -17.31% | +5.00% |
Average DrawdownAverage peak-to-trough decline | -29.86% | -35.65% | +5.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.28% | 5.39% | -1.11% |
Volatility
DLTM.L vs. IBZL.L - Volatility Comparison
The current volatility for iShares MSCI EM Latin America UCITS ETF (DLTM.L) is 6.11%, while iShares MSCI Brazil UCITS ETF (Dist) (IBZL.L) has a volatility of 6.80%. This indicates that DLTM.L experiences smaller price fluctuations and is considered to be less risky than IBZL.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DLTM.L | IBZL.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.11% | 6.80% | -0.69% |
Volatility (6M)Calculated over the trailing 6-month period | 17.14% | 19.27% | -2.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.22% | 23.23% | -3.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.80% | 27.81% | -5.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.57% | 32.51% | -5.94% |
DLTM.L vs. IBZL.L - Expense Ratio Comparison
Both DLTM.L and IBZL.L have an expense ratio of 0.74%.
Dividends
DLTM.L vs. IBZL.L - Dividend Comparison
DLTM.L's dividend yield for the trailing twelve months is around 3.50%, less than IBZL.L's 5.82% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DLTM.L iShares MSCI EM Latin America UCITS ETF | 3.50% | 3.54% | 5.77% | 4.23% | 6.82% | 3.20% | 1.66% | 2.31% | 2.17% | 1.47% | 1.44% | 2.98% |
IBZL.L iShares MSCI Brazil UCITS ETF (Dist) | 5.82% | 5.74% | 8.31% | 6.83% | 16.49% | 8.64% | 2.44% | 3.28% | 3.31% | 1.86% | 2.24% | 5.42% |
Frequently Asked Questions
DLTM.L and IBZL.L have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.74% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
DLTM.L and IBZL.L have the same expense ratio: 0.74% per year.
DLTM.L tracks MSCI EM Latin America NR USD, while IBZL.L tracks MSCI Brazil NR USD.
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