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ECH vs. EWZS
Performance
Return for Risk
Drawdowns
Volatility
Dividends

ECH vs. EWZS

Last updated Jun 23, 2026

ECH (iShares MSCI Chile ETF) and EWZS (iShares MSCI Brazil Small-Cap ETF) are both exchange-traded funds - ECH is a Foreign Large Cap Equities fund tracking the MSCI Chile Investable Market Index, while EWZS is a Latin America Equities fund tracking the MSCI Brazil Small Cap Index. Both are passively managed. Over the past 10 years, ECH returned 4.74%/yr vs 6.73%/yr for EWZS. A 0.53 correlation means they provide meaningful diversification when combined. Both charge a 0.59% expense ratio.

Performance

ECH vs. EWZS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI Chile ETF (ECH) and iShares MSCI Brazil Small-Cap ETF (EWZS). 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 higher than EWZS's -0.07% return. Over the past 10 years, ECH has underperformed EWZS with an annualized return of 4.74%, while EWZS has yielded a comparatively higher 6.73% 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%

EWZS

1D
1.59%
1M
-7.83%
YTD
-0.07%
6M
3.48%
1Y
3.79%
3Y*
-2.00%
5Y*
-5.33%
10Y*
6.73%
*Multi-year figures are annualized to reflect compound growth (CAGR)

ECH vs. EWZS - 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%
EWZS
iShares MSCI Brazil Small-Cap ETF		-0.07%45.18%-35.95%32.65%-11.20%-14.09%-20.86%50.60%-7.13%54.18%

Correlation

The correlation between ECH and EWZS is 0.63, 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

0.63

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

0.53

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

0.48

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

0.49

Correlation (All Time)
Calculated using the full available price history since Sep 29, 2010

0.53

The correlation between ECH and EWZS shifts across timeframes, from 0.48 (5 years) to 0.63 (1 year), reflecting how their relationship changes across market environments.

ECH vs. EWZS - Sectors Allocation Comparison

Sectors
ECH
EWZS

Financial Services

21.8%
9.8%

Basic Materials

20.1%
12.3%

Industrials

15.7%
8.1%

Utilities

12.9%
11.7%

Consumer Cyclical

12.4%
15.8%

Real Estate

7.7%
13.8%

Consumer Defensive

7.6%
10.6%

Communication Services

1.7%

-

Energy

-

5.0%

Healthcare

-

4.7%

Technology

-

8.1%

Financial Services

ECH
21.8%
EWZS
9.8%

Basic Materials

ECH
20.1%
EWZS
12.3%

Industrials

ECH
15.7%
EWZS
8.1%

Utilities

ECH
12.9%
EWZS
11.7%

Consumer Cyclical

ECH
12.4%
EWZS
15.8%

Real Estate

ECH
7.7%
EWZS
13.8%

Consumer Defensive

ECH
7.6%
EWZS
10.6%

Communication Services

ECH
1.7%
EWZS

-

Energy

ECH

-

EWZS
5.0%

Healthcare

ECH

-

EWZS
4.7%

Technology

ECH

-

EWZS
8.1%

Compare stocks, funds, or ETFs

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

iShares MSCI Chile ETF

iShares MSCI Brazil Small-Cap ETF

Often compared with ECH:
ECH vs. EWZECH vs. EWWECH vs. EPUECH vs. EPOLECH vs. EWYECH vs. SCHDECH vs. SPYG
Often compared with EWZS:
EWZS vs. EWZEWZS vs. BRFEWZS vs. EIRLEWZS vs. EWUSEWZS vs. BTEKEWZS vs. BRZUEWZS vs. IDEV

Return for Risk

ECH vs. EWZS — 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
EWZS
EWZS Risk / Return Rank: 1010
Overall Rank
EWZS Sharpe Ratio Rank: 1010
Sharpe Ratio Rank
EWZS Sortino Ratio Rank: 1010
Sortino Ratio Rank
EWZS Omega Ratio Rank: 1010
Omega Ratio Rank
EWZS Calmar Ratio Rank: 1010
Calmar Ratio Rank
EWZS Martin Ratio Rank: 1010
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. EWZS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Chile ETF (ECH) and iShares MSCI Brazil Small-Cap ETF (EWZS). 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.

ECHEWZSDifference
Sharpe ratioReturn per unit of total volatility
1.51
0.12

+1.38

Sortino ratioReturn per unit of downside risk
2.06
0.39

+1.67

Omega ratioGain probability vs. loss probability

1.26

1.05

+0.21

Calmar ratioReturn relative to maximum drawdown

1.95

0.18

+1.77

Martin ratioReturn relative to average drawdown

4.58

0.48

+4.10

ECH vs. EWZS - Sharpe Ratio Comparison

The current ECH Sharpe Ratio is 1.51, which is higher than the EWZS Sharpe Ratio of 0.12. The chart below compares the historical Sharpe Ratios of ECH and EWZS, 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. EWZS - Drawdown Comparison

The maximum ECH drawdown since its inception was -74.08%, smaller than the maximum EWZS drawdown of -79.23%. Use the drawdown chart below to compare losses from any high point for ECH and EWZS.

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Drawdown Indicators

ECHEWZSDifference

Max Drawdown

Largest peak-to-trough decline

-74.08%

-79.23%

+5.15%

Max Drawdown (1Y)

Largest decline over 1 year

-19.74%

-21.53%

+1.79%

Max Drawdown (3Y)

Largest decline over 3 years

-25.59%

-37.55%

+11.96%

Max Drawdown (5Y)

Largest decline over 5 years

-25.59%

-48.78%

+23.19%

Max Drawdown (10Y)

Largest decline over 10 years

-66.89%

-63.15%

-3.74%

Current Drawdown

Current decline from peak

-23.74%

-34.29%

+10.55%

Average Drawdown

Average peak-to-trough decline

-37.48%

-36.55%

-0.93%

Ulcer Index

Depth and duration of drawdowns from previous peaks

8.37%

7.87%

+0.50%

Volatility

ECH vs. EWZS - Volatility Comparison

iShares MSCI Chile ETF (ECH) and iShares MSCI Brazil Small-Cap ETF (EWZS) have volatilities of 8.61% and 8.99%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

ECHEWZSDifference

Volatility (1M)

Calculated over the trailing 1-month period

8.61%

8.99%

-0.38%

Volatility (6M)

Calculated over the trailing 6-month period

21.15%

24.70%

-3.55%

Volatility (1Y)

Calculated over the trailing 1-year period

25.54%

30.81%

-5.27%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

27.62%

33.20%

-5.58%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

27.28%

36.77%

-9.49%

ECH vs. EWZS - Expense Ratio Comparison

Both ECH and EWZS have an expense ratio of 0.59%.

Dividends

ECH vs. EWZS - Dividend Comparison

ECH's dividend yield for the trailing twelve months is around 1.92%, less than EWZS's 3.99% 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%
EWZS
iShares MSCI Brazil Small-Cap ETF		3.99%3.88%4.93%2.75%4.61%4.51%1.15%1.77%4.35%3.41%3.62%4.35%

Frequently Asked Questions

ECH and EWZS have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

EWZS has higher volatility (8.99%) compared to ECH (8.61%). In terms of maximum drawdown, ECH dropped -74.08% vs EWZS's -79.23%.

On 10-year performance, EWZS leads with 6.73% vs 4.74% for ECH. Both ETFs have the same 0.59% expense ratio. On volatility, ECH has been the lower-risk option at 8.61%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, EWZS has performed better with a 6.73% return vs 4.74%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

ECH and EWZS have the same expense ratio: 0.59% per year.

EWZS has the higher dividend yield at 3.99%, compared with 1.92% for ECH.

ECH is categorized as Foreign Large Cap Equities, while EWZS is Latin America Equities. ECH tracks MSCI Chile Investable Market Index, while EWZS tracks MSCI Brazil Small Cap Index.

ECH currently has the higher Sharpe Ratio (1.51 vs 0.12), 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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