EPU vs. OPTZ

Last updated Jun 6, 2026

EPU (iShares MSCI Peru ETF) and OPTZ (Optimize Strategy Index ETF) are both Mid Cap Blend Equities funds - EPU tracks the MSCI All Peru Capped Index while OPTZ tracks the Optimize Strategy Index. Both are passively managed. Over the past year, EPU returned 64.72% vs 53.21% for OPTZ. At a 0.48 correlation, their price movements are largely independent. EPU charges 0.59%/yr vs 0.25%/yr for OPTZ.

Performance

EPU vs. OPTZ - Performance Comparison

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

Returns By Period

In the year-to-date period, EPU achieves a 8.58% return, which is significantly lower than OPTZ's 24.33% return.

EPU

• 1D: -6.28%
• 1M: -4.01%
• YTD: 8.58%
• 6M: 17.68%
• 1Y: 64.72%
• 3Y*: 41.90%
• 5Y*: 22.72%
• 10Y*: 13.41%

OPTZ

• 1D: -5.23%
• 1M: 2.49%
• YTD: 24.33%
• 6M: 24.28%
• 1Y: 53.21%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

EPU vs. OPTZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024
EPU iShares MSCI Peru ETF	8.58%	86.87%	5.61%
OPTZ Optimize Strategy Index ETF	24.33%	22.83%	16.81%

Correlation

The correlation between EPU and OPTZ is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.49
Correlation (All Time) Calculated using the full available price history since Apr 24, 2024	0.48

EPU vs. OPTZ - Sectors Allocation Comparison

Sectors	EPU	OPTZ
Basic Materials	52.7%	1.3%
Financial Services	28.8%	9.1%
Consumer Cyclical	4.1%	9.5%
Real Estate	3.2%	1.5%
Consumer Defensive	3.0%	4.0%
Utilities	2.8%	0.7%
Industrials	2.8%	8.9%
Communication Services	1.6%	2.6%
Healthcare	1.2%	10.5%
Energy	-	1.5%
Technology	-	50.6%

Return for Risk

EPU vs. OPTZ — Risk / Return Rank

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

EPU

EPU Risk / Return Rank: 61
EPU Sharpe Ratio Rank: 68
EPU Sortino Ratio Rank: 57
EPU Omega Ratio Rank: 61
EPU Calmar Ratio Rank: 65
EPU Martin Ratio Rank: 55

OPTZ

OPTZ Risk / Return Rank: 88
OPTZ Sharpe Ratio Rank: 89
OPTZ Sortino Ratio Rank: 85
OPTZ Omega Ratio Rank: 84
OPTZ Calmar Ratio Rank: 89
OPTZ Martin Ratio Rank: 93

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. OPTZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Peru ETF (EPU) and Optimize Strategy Index ETF (OPTZ). 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.

	EPU	OPTZ	Difference
Sharpe ratio: Return per unit of total volatility	2.17	2.84	-0.67
Sortino ratio: Return per unit of downside risk	2.60	3.65	-1.05
Omega ratio: Gain probability vs. loss probability	1.36	1.48	-0.13
Calmar ratio: Return relative to maximum drawdown	3.12	5.03	-1.91
Martin ratio: Return relative to average drawdown	9.25	22.63	-13.38
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EPU vs. OPTZ - Sharpe Ratio Comparison

The current EPU Sharpe Ratio is 2.17, which is comparable to the OPTZ Sharpe Ratio of 2.84. The chart below compares the historical Sharpe Ratios of EPU and OPTZ, 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

	EPU	OPTZ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.17	2.84	-0.67
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.91	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.57	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.43	1.51	-1.08

Drawdowns

EPU vs. OPTZ - Drawdown Comparison

The maximum EPU drawdown since its inception was -60.62%, which is greater than OPTZ's maximum drawdown of -25.75%. Use the drawdown chart below to compare losses from any high point for EPU and OPTZ.

Drawdown Indicators

	EPU	OPTZ	Difference
Max Drawdown Largest peak-to-trough decline	-60.62%	-25.75%	-34.87%
Max Drawdown (1Y) Largest decline over 1 year	-20.85%	-10.63%	-10.22%
Max Drawdown (3Y) Largest decline over 3 years	-20.85%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-35.59%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-50.97%	—	—
Current Drawdown Current decline from peak	-16.28%	-5.46%	-10.82%
Average Drawdown Average peak-to-trough decline	-18.82%	-3.39%	-15.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.02%	2.36%	+4.66%

Volatility

EPU vs. OPTZ - Volatility Comparison

iShares MSCI Peru ETF (EPU) has a higher volatility of 10.84% compared to Optimize Strategy Index ETF (OPTZ) at 8.20%. This indicates that EPU's price experiences larger fluctuations and is considered to be riskier than OPTZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EPU	OPTZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.84%	8.20%	+2.64%
Volatility (6M) Calculated over the trailing 6-month period	25.85%	14.62%	+11.23%
Volatility (1Y) Calculated over the trailing 1-year period	30.03%	18.85%	+11.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.20%	20.95%	+4.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.51%	20.95%	+2.56%

EPU vs. OPTZ - Expense Ratio Comparison

EPU has a 0.59% expense ratio, which is higher than OPTZ's 0.25% expense ratio.

Dividends

EPU vs. OPTZ - Dividend Comparison

EPU's dividend yield for the trailing twelve months is around 1.50%, more than OPTZ's 0.47% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EPU iShares MSCI Peru ETF	1.50%	1.63%	5.78%	4.17%	5.56%	3.13%	1.91%	2.67%	1.53%	3.30%	0.85%	1.90%
OPTZ Optimize Strategy Index ETF	0.47%	0.58%	0.32%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both EPU and OPTZ in my portfolio?

EPU and OPTZ have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EPU or OPTZ?

EPU has higher volatility (10.84%) compared to OPTZ (8.20%). In terms of maximum drawdown, EPU dropped -60.62% vs OPTZ's -25.75%.

Which ETF is better, EPU or OPTZ?

On 1-year performance, EPU leads with 64.72% vs 53.21% for OPTZ. On fees, OPTZ is cheaper at 0.25% per year. On volatility, OPTZ has been the lower-risk option at 8.20%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EPU or OPTZ?

Over the 1-year period, EPU has performed better with a 64.72% return vs 53.21%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EPU or OPTZ?

OPTZ is cheaper with a 0.25% expense ratio, compared with 0.59% for EPU.

Which ETF pays a higher dividend yield, EPU or OPTZ?

EPU has the higher dividend yield at 1.50%, compared with 0.47% for OPTZ.

What is the main difference between EPU and OPTZ?

EPU tracks MSCI All Peru Capped Index, while OPTZ tracks Optimize Strategy Index. They also come from different issuers: iShares and Optimize. Their fees differ too: 0.59% for EPU and 0.25% for OPTZ.

Which has better risk-adjusted returns?

OPTZ currently has the higher Sharpe Ratio (2.84 vs 2.17), 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.