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ECH vs. EWW
Performance
Return for Risk
Drawdowns
Volatility
Dividends

ECH vs. EWW

Last updated Jun 23, 2026

ECH (iShares MSCI Chile ETF) and EWW (iShares MSCI Mexico ETF) are both exchange-traded funds - ECH is a Foreign Large Cap Equities fund tracking the MSCI Chile Investable Market Index, while EWW is a Latin America Equities fund tracking the MSCI Mexico IMI 25/50 Index. Both are passively managed. Over the past 10 years, ECH returned 4.74%/yr vs 7.64%/yr for EWW. A 0.58 correlation means they provide meaningful diversification when combined. ECH charges 0.59%/yr vs 0.49%/yr for EWW.

Performance

ECH vs. EWW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI Chile ETF (ECH) and iShares MSCI Mexico ETF (EWW). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, ECH achieves a 2.63% return, which is significantly lower than EWW's 11.18% return. Over the past 10 years, ECH has underperformed EWW with an annualized return of 4.74%, while EWW has yielded a comparatively higher 7.64% annualized return.

ECH

1D
0.39%
1M
2.91%
YTD
2.63%
6M
4.41%
1Y
38.25%
3Y*
15.48%
5Y*
11.62%
10Y*
4.74%

EWW

1D
-1.77%
1M
-0.88%
YTD
11.18%
6M
10.19%
1Y
35.19%
3Y*
11.06%
5Y*
13.50%
10Y*
7.64%
*Multi-year figures are annualized to reflect compound growth (CAGR)

ECH vs. EWW - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
ECH
iShares MSCI Chile ETF		2.63%65.41%-8.67%9.01%25.12%-19.80%-7.13%-17.79%-18.98%41.79%
EWW
iShares MSCI Mexico ETF		11.18%53.65%-28.22%40.32%1.24%20.27%-3.06%12.64%-14.58%14.47%

Correlation

The correlation between ECH and EWW is 0.51, 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

0.51

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

0.51

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

0.48

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

0.53

Correlation (All Time)
Calculated using the full available price history since Nov 20, 2007

0.58

The correlation between ECH and EWW has been stable across timeframes, ranging from 0.48 to 0.58 - a consistent structural relationship.

ECH vs. EWW - Sectors Allocation Comparison

Sectors
ECH
EWW

Financial Services

21.8%
17.8%

Basic Materials

20.1%
26.2%

Industrials

15.7%
12.7%

Utilities

12.9%

-

Consumer Cyclical

12.4%
1.4%

Real Estate

7.7%
7.7%

Consumer Defensive

7.6%
23.9%

Communication Services

1.7%
9.8%

Energy

-

-

Healthcare

-

0.5%

Technology

-

-

Financial Services

ECH
21.8%
EWW
17.8%

Basic Materials

ECH
20.1%
EWW
26.2%

Industrials

ECH
15.7%
EWW
12.7%

Utilities

ECH
12.9%
EWW

-

Consumer Cyclical

ECH
12.4%
EWW
1.4%

Real Estate

ECH
7.7%
EWW
7.7%

Consumer Defensive

ECH
7.6%
EWW
23.9%

Communication Services

ECH
1.7%
EWW
9.8%

Energy

ECH

-

EWW

-

Healthcare

ECH

-

EWW
0.5%

Technology

ECH

-

EWW

-

Compare stocks, funds, or ETFs

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iShares MSCI Chile ETF

iShares MSCI Mexico ETF

Often compared with ECH:
ECH vs. EWZECH vs. EPUECH vs. EWZSECH vs. EPOLECH vs. EWYECH vs. SCHDECH vs. SPYG
Often compared with EWW:
EWW vs. EWZEWW vs. FLMXEWW vs. ILFEWW vs. SPYEWW vs. VOOEWW vs. MEXXEWW vs. EIDO

Return for Risk

ECH vs. EWW — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
ECH
ECH Risk / Return Rank: 4040
Overall Rank
ECH Sharpe Ratio Rank: 4444
Sharpe Ratio Rank
ECH Sortino Ratio Rank: 4242
Sortino Ratio Rank
ECH Omega Ratio Rank: 4141
Omega Ratio Rank
ECH Calmar Ratio Rank: 4040
Calmar Ratio Rank
ECH Martin Ratio Rank: 3232
Martin Ratio Rank
EWW
EWW Risk / Return Rank: 5050
Overall Rank
EWW Sharpe Ratio Rank: 4949
Sharpe Ratio Rank
EWW Sortino Ratio Rank: 4747
Sortino Ratio Rank
EWW Omega Ratio Rank: 4646
Omega Ratio Rank
EWW Calmar Ratio Rank: 5252
Calmar Ratio Rank
EWW Martin Ratio Rank: 5454
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.

ECH vs. EWW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Chile ETF (ECH) and iShares MSCI Mexico ETF (EWW). 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.

ECHEWWDifference
Sharpe ratioReturn per unit of total volatility
1.51
1.63

-0.12

Sortino ratioReturn per unit of downside risk
2.06
2.29

-0.22

Omega ratioGain probability vs. loss probability

1.26

1.29

-0.03

Calmar ratioReturn relative to maximum drawdown

1.95

2.53

-0.58

Martin ratioReturn relative to average drawdown

4.58

8.96

-4.38

ECH vs. EWW - Sharpe Ratio Comparison

The current ECH Sharpe Ratio is 1.51, which is comparable to the EWW Sharpe Ratio of 1.63. The chart below compares the historical Sharpe Ratios of ECH and EWW, 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

ECH vs. EWW - Drawdown Comparison

The maximum ECH drawdown since its inception was -74.08%, which is greater than EWW's maximum drawdown of -64.94%. Use the drawdown chart below to compare losses from any high point for ECH and EWW.

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Drawdown Indicators

ECHEWWDifference

Max Drawdown

Largest peak-to-trough decline

-74.08%

-64.94%

-9.14%

Max Drawdown (1Y)

Largest decline over 1 year

-19.74%

-13.98%

-5.76%

Max Drawdown (3Y)

Largest decline over 3 years

-25.59%

-31.17%

+5.58%

Max Drawdown (5Y)

Largest decline over 5 years

-25.59%

-31.17%

+5.58%

Max Drawdown (10Y)

Largest decline over 10 years

-66.89%

-53.62%

-13.27%

Current Drawdown

Current decline from peak

-23.74%

-5.11%

-18.63%

Average Drawdown

Average peak-to-trough decline

-37.48%

-18.50%

-18.98%

Ulcer Index

Depth and duration of drawdowns from previous peaks

8.37%

3.94%

+4.43%

Volatility

ECH vs. EWW - Volatility Comparison

iShares MSCI Chile ETF (ECH) has a higher volatility of 8.61% compared to iShares MSCI Mexico ETF (EWW) at 6.51%. This indicates that ECH's price experiences larger fluctuations and is considered to be riskier than EWW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

ECHEWWDifference

Volatility (1M)

Calculated over the trailing 1-month period

8.61%

6.51%

+2.10%

Volatility (6M)

Calculated over the trailing 6-month period

21.15%

18.27%

+2.88%

Volatility (1Y)

Calculated over the trailing 1-year period

25.54%

21.76%

+3.78%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

27.62%

22.59%

+5.03%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

27.28%

25.39%

+1.89%

ECH vs. EWW - Expense Ratio Comparison

ECH has a 0.59% expense ratio, which is higher than EWW's 0.49% expense ratio.

Dividends

ECH vs. EWW - Dividend Comparison

ECH's dividend yield for the trailing twelve months is around 1.92%, less than EWW's 3.25% yield.

PositionTTM20252024202320222021202020192018201720162015
ECH
iShares MSCI Chile ETF		1.92%2.01%3.12%4.77%6.73%5.49%2.16%2.47%2.37%1.42%1.85%2.13%
EWW
iShares MSCI Mexico ETF		3.25%3.48%4.39%2.19%3.64%2.06%1.43%2.92%2.30%2.22%1.77%2.34%

Frequently Asked Questions

ECH and EWW have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

ECH has higher volatility (8.61%) compared to EWW (6.51%). In terms of maximum drawdown, ECH dropped -74.08% vs EWW's -64.94%.

On 10-year performance, EWW leads with 7.64% vs 4.74% for ECH. On fees, EWW is cheaper at 0.49% per year. On volatility, EWW has been the lower-risk option at 6.51%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, EWW has performed better with a 7.64% return vs 4.74%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

EWW is cheaper with a 0.49% expense ratio, compared with 0.59% for ECH.

EWW has the higher dividend yield at 3.25%, compared with 1.92% for ECH.

ECH is categorized as Foreign Large Cap Equities, while EWW is Latin America Equities. ECH tracks MSCI Chile Investable Market Index, while EWW tracks MSCI Mexico IMI 25/50 Index. Their fees differ too: 0.59% for ECH and 0.49% for EWW.

EWW currently has the higher Sharpe Ratio (1.63 vs 1.51), 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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