EBIZ vs. MELI

Last updated Jun 4, 2026

EBIZ (Global X E-commerce ETF) is Consumer Discretionary Equities fund tracking the Solactive E-commerce Index, while MELI (MercadoLibre, Inc.) is a stock. Over the past 5 years, EBIZ returned -3.65%/yr vs 4.33%/yr for MELI. A 0.63 correlation means they provide meaningful diversification when combined.

Performance

EBIZ vs. MELI - Performance Comparison

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

Returns By Period

In the year-to-date period, EBIZ achieves a -15.29% return, which is significantly higher than MELI's -18.65% return.

EBIZ

• 1D: -2.05%
• 1M: -2.71%
• YTD: -15.29%
• 6M: -15.50%
• 1Y: -8.74%
• 3Y*: 17.16%
• 5Y*: -3.65%
• 10Y*: —

MELI

• 1D: -2.05%
• 1M: -9.65%
• YTD: -18.65%
• 6M: -22.70%
• 1Y: -37.03%
• 3Y*: 8.84%
• 5Y*: 4.33%
• 10Y*: 28.35%

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

EBIZ vs. MELI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
EBIZ Global X E-commerce ETF	-15.29%	17.74%	31.26%	30.88%	-40.96%	-13.26%	74.39%	32.76%	-11.01%
MELI MercadoLibre, Inc.	-18.65%	18.46%	8.20%	85.71%	-37.24%	-19.51%	192.90%	95.30%	-16.80%

Correlation

The correlation between EBIZ and MELI is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.46
Correlation (3Y) Calculated over the trailing 3-year period	0.47
Correlation (5Y) Calculated over the trailing 5-year period	0.62
Correlation (All Time) Calculated using the full available price history since Dec 3, 2018	0.63

The correlation between EBIZ and MELI shifts across timeframes, from 0.46 (1 year) to 0.63 (all time), reflecting how their relationship changes across market environments.

Return for Risk

EBIZ vs. MELI — Risk / Return Rank

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

EBIZ

EBIZ Risk / Return Rank: 5
EBIZ Sharpe Ratio Rank: 5
EBIZ Sortino Ratio Rank: 5
EBIZ Omega Ratio Rank: 5
EBIZ Calmar Ratio Rank: 6
EBIZ Martin Ratio Rank: 6

MELI

MELI Risk / Return Rank: 6
MELI Sharpe Ratio Rank: 6
MELI Sortino Ratio Rank: 8
MELI Omega Ratio Rank: 8
MELI Calmar Ratio Rank: 5
MELI Martin Ratio Rank: 3

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.

EBIZ vs. MELI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X E-commerce ETF (EBIZ) 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.

	EBIZ	MELI	Difference
Sharpe ratio: Return per unit of total volatility	-0.44	-0.94	+0.50
Sortino ratio: Return per unit of downside risk	-0.49	-1.23	+0.74
Omega ratio: Gain probability vs. loss probability	0.94	0.84	+0.10
Calmar ratio: Return relative to maximum drawdown	-0.32	-0.91	+0.59
Martin ratio: Return relative to average drawdown	-0.65	-1.66	+1.00
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EBIZ vs. MELI - Sharpe Ratio Comparison

The current EBIZ Sharpe Ratio is -0.44, which is higher than the MELI Sharpe Ratio of -0.94. The chart below compares the historical Sharpe Ratios of EBIZ 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

	EBIZ	MELI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.44	-0.94	+0.50
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.13	0.09	-0.21
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.58	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.29	0.45	-0.16

Drawdowns

EBIZ vs. MELI - Drawdown Comparison

The maximum EBIZ drawdown since its inception was -61.58%, smaller than the maximum MELI drawdown of -89.49%. Use the drawdown chart below to compare losses from any high point for EBIZ and MELI.

Drawdown Indicators

	EBIZ	MELI	Difference
Max Drawdown Largest peak-to-trough decline	-61.58%	-89.49%	+27.91%
Max Drawdown (1Y) Largest decline over 1 year	-27.73%	-40.82%	+13.09%
Max Drawdown (3Y) Largest decline over 3 years	-27.73%	-40.82%	+13.09%
Max Drawdown (5Y) Largest decline over 5 years	-58.21%	-68.64%	+10.43%
Max Drawdown (10Y) Largest decline over 10 years	—	-69.12%	—
Current Drawdown Current decline from peak	-25.77%	-37.31%	+11.54%
Average Drawdown Average peak-to-trough decline	-24.33%	-23.57%	-0.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.41%	22.40%	-8.99%

Volatility

EBIZ vs. MELI - Volatility Comparison

The current volatility for Global X E-commerce ETF (EBIZ) is 5.39%, while MercadoLibre, Inc. (MELI) has a volatility of 17.25%. This indicates that EBIZ 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

	EBIZ	MELI	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.39%	17.25%	-11.86%
Volatility (6M) Calculated over the trailing 6-month period	15.01%	30.23%	-15.22%
Volatility (1Y) Calculated over the trailing 1-year period	19.82%	39.50%	-19.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	28.90%	49.68%	-20.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.68%	48.88%	-20.20%

Dividends

EBIZ vs. MELI - Dividend Comparison

EBIZ's dividend yield for the trailing twelve months is around 0.60%, while MELI has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EBIZ Global X E-commerce ETF	0.60%	0.51%	0.23%	0.00%	0.10%	0.57%	0.84%	0.18%	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 EBIZ and MELI in my portfolio?

EBIZ and MELI have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EBIZ or MELI?

MELI has higher volatility (17.25%) compared to EBIZ (5.39%). In terms of maximum drawdown, EBIZ dropped -61.58% vs MELI's -89.49%.

Which has better risk-adjusted returns?

EBIZ currently has the higher Sharpe Ratio (-0.44 vs -0.94), 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.