ECH vs. FLMX

Last updated Aug 2, 2026

ECH (iShares MSCI Chile ETF) and FLMX (Franklin FTSE Mexico ETF) are both Latin America Equities funds - ECH tracks the MSCI Chile Investable Market Index while FLMX tracks the FTSE Mexico RIC Capped Index. Both are passively managed. Over the past 5 years, ECH returned 12.16%/yr vs 13.03%/yr for FLMX. Their 0.50 correlation means they have sometimes moved together and sometimes differently. ECH charges 0.59%/yr vs 0.19%/yr for FLMX.

Performance

ECH vs. FLMX - Performance Comparison

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

Returns By Period

In the year-to-date period, ECH achieves a -1.11% return, which is significantly lower than FLMX's 13.07% return.

ECH

• 1D: -1.23%
• 1M: 0.51%
• 6M: -11.69%
• YTD: -1.11%
• 1Y: 33.73%
• 3Y*: 11.11%
• 5Y*: 12.16%
• 10Y*: 3.52%
• ALL TIME*: 1.35%

FLMX

• 1D: 0.10%
• 1M: 1.95%
• 6M: 3.59%
• YTD: 13.07%
• 1Y: 33.85%
• 3Y*: 10.18%
• 5Y*: 13.03%
• 10Y*: —
• ALL TIME*: 8.07%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
ECH iShares MSCI Chile ETF	$9.62M	$13.53M	$17.14M
FLMX Franklin FTSE Mexico ETF	$234.61K	$237.08K	$407.38K

ECH vs. FLMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ECH iShares MSCI Chile ETF	-1.11%	65.41%	-8.67%	9.01%	25.12%	-19.80%	-7.13%	-17.79%	-18.98%	3.77%
FLMX Franklin FTSE Mexico ETF	13.07%	53.62%	-28.45%	39.35%	2.40%	19.58%	-3.50%	12.13%	-13.32%	-0.96%

Correlation

The correlation between ECH and FLMX is 0.52, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.52
Correlation (3Y) Balances recent behavior with more history.	0.53
Correlation (5Y) Shows whether the relationship held over a longer period.	0.50
Correlation (All Time) Calculated using the full available price history since Nov 6, 2017	0.50

The correlation between ECH and FLMX has been stable across timeframes, ranging from 0.50 to 0.53 - a consistent structural relationship.

ECH vs. FLMX - Sectors Allocation Comparison

Sectors	ECH	FLMX
Financial Services	22.9%	20.3%
Basic Materials	18.4%	18.8%
Industrials	16.6%	14.2%
Utilities	13.0%	-
Consumer Cyclical	12.4%	1.4%
Real Estate	7.6%	7.4%
Consumer Defensive	7.5%	29.5%
Communication Services	1.7%	8.4%
Energy	-	-
Healthcare	-	-
Technology	-	-

Return for Risk

ECH vs. FLMX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

ECH

ECH Risk / Return Rank: 49
ECH Sharpe Ratio Rank: 56
ECH Sortino Ratio Rank: 54
ECH Omega Ratio Rank: 52
ECH Calmar Ratio Rank: 49
ECH Martin Ratio Rank: 35

FLMX

FLMX Risk / Return Rank: 65
FLMX Sharpe Ratio Rank: 66
FLMX Sortino Ratio Rank: 65
FLMX Omega Ratio Rank: 63
FLMX Calmar Ratio Rank: 67
FLMX Martin Ratio Rank: 62

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

ECH vs. FLMX - Risk-Adjusted Trends Comparison

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

	ECH	FLMX	Difference
Sharpe ratio: Return per unit of total volatility	1.35	1.52	-0.17
Sortino ratio: Return per unit of downside risk	1.88	2.16	-0.28
Omega ratio: Gain probability vs. loss probability	1.23	1.27	-0.03
Calmar ratio: Return relative to maximum drawdown	1.75	2.33	-0.58
Martin ratio: Return relative to average drawdown	3.55	7.44	-3.89

ECH vs. FLMX - Sharpe Ratio Comparison

The current ECH Sharpe Ratio is 1.35, which is comparable to the FLMX Sharpe Ratio of 1.52. The chart below compares the historical Sharpe Ratios of ECH and FLMX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

ECH vs. FLMX - Drawdown Comparison

The maximum ECH drawdown since its inception was -74.08%, which is greater than FLMX's maximum drawdown of -50.05%. Use the drawdown chart below to compare losses from any high point for ECH and FLMX.

Drawdown Indicators

	ECH	FLMX	Difference
Max Drawdown Largest peak-to-trough decline	-74.08%	-50.05%	-24.03%
Max Drawdown (1Y) Largest decline over 1 year	-19.74%	-14.18%	-5.56%
Max Drawdown (3Y) Largest decline over 3 years	-20.51%	-31.72%	+11.21%
Max Drawdown (5Y) Largest decline over 5 years	-25.59%	-31.72%	+6.13%
Max Drawdown (10Y) Largest decline over 10 years	-66.89%	—	—
Current Drawdown Current decline from peak	-26.52%	-3.89%	-22.63%
Average Drawdown Average peak-to-trough decline	-37.41%	-11.92%	-25.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.71%	4.43%	+5.28%

Volatility

ECH vs. FLMX - Volatility Comparison

iShares MSCI Chile ETF (ECH) has a higher volatility of 6.38% compared to Franklin FTSE Mexico ETF (FLMX) at 5.16%. This indicates that ECH's price experiences larger fluctuations and is considered to be riskier than FLMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ECH	FLMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.38%	5.16%	+1.22%
Volatility (6M) Calculated over the trailing 6-month period	21.15%	18.37%	+2.78%
Volatility (1Y) Calculated over the trailing 1-year period	25.69%	21.77%	+3.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.49%	22.08%	+5.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.22%	24.60%	+2.62%

ECH vs. FLMX - Expense Ratio Comparison

ECH has a 0.59% expense ratio, which is higher than FLMX's 0.19% expense ratio.

Dividends

ECH vs. FLMX - Dividend Comparison

ECH's dividend yield for the trailing twelve months is around 2.00%, less than FLMX's 3.78% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ECH iShares MSCI Chile ETF	2.00%	2.01%	3.12%	4.77%	6.73%	5.49%	2.16%	2.47%	2.37%	1.42%	1.85%	2.13%
FLMX Franklin FTSE Mexico ETF	3.78%	3.99%	3.31%	2.90%	4.22%	3.15%	1.48%	2.95%	2.51%	0.31%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ECH and FLMX in my portfolio?

ECH and FLMX have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ECH or FLMX?

ECH has higher volatility (6.38%) compared to FLMX (5.16%). In terms of maximum drawdown, ECH dropped -74.08% vs FLMX's -50.05%.

Which ETF is better, ECH or FLMX?

On 5-year performance, FLMX leads with 13.03% vs 12.16% for ECH. On fees, FLMX is cheaper at 0.19% per year. On volatility, FLMX has been the lower-risk option at 5.16%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ECH or FLMX?

Over the 5-year period, FLMX has performed better with a 13.03% return vs 12.16%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ECH or FLMX?

FLMX is cheaper with a 0.19% expense ratio, compared with 0.59% for ECH.

Which ETF pays a higher dividend yield, ECH or FLMX?

FLMX has the higher dividend yield at 3.78%, compared with 2.00% for ECH.

What is the main difference between ECH and FLMX?

ECH tracks MSCI Chile Investable Market Index, while FLMX tracks FTSE Mexico RIC Capped Index. They also come from different issuers: iShares and Franklin Templeton. Their fees differ too: 0.59% for ECH and 0.19% for FLMX.

Which has better risk-adjusted returns?

FLMX currently has the higher Sharpe Ratio (1.52 vs 1.35), 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.