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EPU vs. ECH
Performance
Return for Risk
Drawdowns
Volatility
Dividends

EPU vs. ECH

Last updated Jun 23, 2026

EPU (iShares MSCI Peru ETF) and ECH (iShares MSCI Chile ETF) are both exchange-traded funds - EPU is a Mid Cap Blend Equities fund tracking the MSCI All Peru Capped Index, while ECH is a Foreign Large Cap Equities fund tracking the MSCI Chile Investable Market Index. Both are passively managed. Over the past 10 years, EPU returned 15.17%/yr vs 4.74%/yr for ECH. A 0.55 correlation means they provide meaningful diversification when combined. Both charge a 0.59% expense ratio.

Performance

EPU vs. ECH - Performance Comparison

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

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Returns By Period

In the year-to-date period, EPU achieves a 23.09% return, which is significantly higher than ECH's 2.63% return. Over the past 10 years, EPU has outperformed ECH with an annualized return of 15.17%, while ECH has yielded a comparatively lower 4.74% annualized return.

EPU

1D
-0.24%
1M
7.82%
YTD
23.09%
6M
23.55%
1Y
89.94%
3Y*
48.43%
5Y*
31.01%
10Y*
15.17%

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

EPU vs. ECH - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
EPU
iShares MSCI Peru ETF		23.09%86.87%21.73%25.34%2.05%-11.81%-4.31%7.30%-12.17%29.70%
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%

Correlation

The correlation between EPU and ECH is 0.65, 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

0.65

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

0.63

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

0.57

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

0.55

Correlation (All Time)
Calculated using the full available price history since Jun 22, 2009

0.55

The correlation between EPU and ECH has been stable across timeframes, ranging from 0.55 to 0.65 - a consistent structural relationship.

EPU vs. ECH - Sectors Allocation Comparison

Sectors
EPU
ECH

Basic Materials

54.2%
20.1%

Financial Services

27.9%
21.8%

Consumer Cyclical

4.1%
12.4%

Consumer Defensive

3.0%
7.6%

Real Estate

3.0%
7.7%

Utilities

2.8%
12.9%

Industrials

2.6%
15.7%

Communication Services

1.5%
1.7%

Healthcare

0.9%

-

Energy

-

-

Technology

-

-

Basic Materials

EPU
54.2%
ECH
20.1%

Financial Services

EPU
27.9%
ECH
21.8%

Consumer Cyclical

EPU
4.1%
ECH
12.4%

Consumer Defensive

EPU
3.0%
ECH
7.6%

Real Estate

EPU
3.0%
ECH
7.7%

Utilities

EPU
2.8%
ECH
12.9%

Industrials

EPU
2.6%
ECH
15.7%

Communication Services

EPU
1.5%
ECH
1.7%

Healthcare

EPU
0.9%
ECH

-

Energy

EPU

-

ECH

-

Technology

EPU

-

ECH

-

Compare stocks, funds, or ETFs

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iShares MSCI Peru ETF

iShares MSCI Chile ETF

Often compared with EPU:
EPU vs. ILFEPU vs. ARGTEPU vs. EISEPU vs. EVXEPU vs. EWSEPU vs. EPIEPU vs. THD
Often compared with ECH:
ECH vs. EWZECH vs. EWWECH vs. EWZSECH vs. EPOLECH vs. EWYECH vs. SCHDECH vs. SPYG

Return for Risk

EPU vs. ECH — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
EPU
EPU Risk / Return Rank: 8080
Overall Rank
EPU Sharpe Ratio Rank: 9090
Sharpe Ratio Rank
EPU Sortino Ratio Rank: 7777
Sortino Ratio Rank
EPU Omega Ratio Rank: 7979
Omega Ratio Rank
EPU Calmar Ratio Rank: 8383
Calmar Ratio Rank
EPU Martin Ratio Rank: 6969
Martin Ratio Rank
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
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.

EPU vs. ECH - Risk-Adjusted Trends Comparison

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

EPUECHDifference
Sharpe ratioReturn per unit of total volatility
2.91
1.51

+1.40

Sortino ratioReturn per unit of downside risk
3.28
2.06

+1.22

Omega ratioGain probability vs. loss probability

1.45

1.26

+0.19

Calmar ratioReturn relative to maximum drawdown

4.34

1.95

+2.39

Martin ratioReturn relative to average drawdown

12.45

4.58

+7.87

EPU vs. ECH - Sharpe Ratio Comparison

The current EPU Sharpe Ratio is 2.91, which is higher than the ECH Sharpe Ratio of 1.51. The chart below compares the historical Sharpe Ratios of EPU and ECH, 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

EPU vs. ECH - Drawdown Comparison

The maximum EPU drawdown since its inception was -60.62%, smaller than the maximum ECH drawdown of -74.08%. Use the drawdown chart below to compare losses from any high point for EPU and ECH.

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Drawdown Indicators

EPUECHDifference

Max Drawdown

Largest peak-to-trough decline

-60.62%

-74.08%

+13.46%

Max Drawdown (1Y)

Largest decline over 1 year

-20.85%

-19.74%

-1.11%

Max Drawdown (3Y)

Largest decline over 3 years

-20.85%

-25.59%

+4.74%

Max Drawdown (5Y)

Largest decline over 5 years

-35.59%

-25.59%

-10.00%

Max Drawdown (10Y)

Largest decline over 10 years

-50.97%

-66.89%

+15.92%

Current Drawdown

Current decline from peak

-5.10%

-23.74%

+18.64%

Average Drawdown

Average peak-to-trough decline

-18.79%

-37.48%

+18.69%

Ulcer Index

Depth and duration of drawdowns from previous peaks

7.25%

8.37%

-1.12%

Volatility

EPU vs. ECH - Volatility Comparison

iShares MSCI Peru ETF (EPU) has a higher volatility of 12.16% compared to iShares MSCI Chile ETF (ECH) at 8.61%. This indicates that EPU's price experiences larger fluctuations and is considered to be riskier than ECH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

EPUECHDifference

Volatility (1M)

Calculated over the trailing 1-month period

12.16%

8.61%

+3.55%

Volatility (6M)

Calculated over the trailing 6-month period

26.96%

21.15%

+5.81%

Volatility (1Y)

Calculated over the trailing 1-year period

31.14%

25.54%

+5.60%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

25.06%

27.62%

-2.56%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

23.65%

27.28%

-3.63%

EPU vs. ECH - Expense Ratio Comparison

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

Dividends

EPU vs. ECH - Dividend Comparison

EPU's dividend yield for the trailing twelve months is around 1.95%, more than ECH's 1.92% 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%
EPU
iShares MSCI Peru ETF		1.95%1.63%5.78%4.17%5.56%3.13%1.91%2.67%1.53%3.30%0.85%1.90%

Frequently Asked Questions

EPU and ECH have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

EPU has higher volatility (12.16%) compared to ECH (8.61%). In terms of maximum drawdown, EPU dropped -60.62% vs ECH's -74.08%.

On 10-year performance, EPU leads with 15.17% 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, EPU has performed better with a 15.17% return vs 4.74%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

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

EPU has the higher dividend yield at 1.95%, compared with 1.92% for ECH.

EPU is categorized as Mid Cap Blend Equities, while ECH is Foreign Large Cap Equities. EPU tracks MSCI All Peru Capped Index, while ECH tracks MSCI Chile Investable Market Index.

EPU currently has the higher Sharpe Ratio (2.91 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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