EWW vs. OTGL

Last updated Aug 4, 2026

EWW (iShares MSCI Mexico ETF) and OTGL (OTG Latin America ETF) are both Latin America Equities funds - EWW tracks the MSCI Mexico IMI 25/50 Index while OTGL tracks the Actively Managed. Both are passively managed. Over the past year, EWW returned 32.83% vs 25.96% for OTGL. Their 0.71 correlation means they have sometimes moved together and sometimes differently. EWW charges 0.50%/yr vs 0.95%/yr for OTGL.

Performance

EWW vs. OTGL - Performance Comparison

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

Returns By Period

In the year-to-date period, EWW achieves a 12.04% return, which is significantly higher than OTGL's 9.47% return.

EWW

• 1D: -0.34%
• 1M: 1.39%
• 6M: 2.98%
• YTD: 12.04%
• 1Y: 32.83%
• 3Y*: 10.69%
• 5Y*: 12.92%
• 10Y*: 7.05%
• ALL TIME*: 8.92%

OTGL

• 1D: -0.31%
• 1M: 3.58%
• 6M: -2.10%
• YTD: 9.47%
• 1Y: 25.96%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 23.01%

*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)
EWW iShares MSCI Mexico ETF	$81.87M	$77.20M	$92.45M
OTGL OTG Latin America ETF	$6.34K	$5.67K	$23.88K

EWW vs. OTGL - Yearly Performance Comparison

	2026 (YTD)	2025
EWW iShares MSCI Mexico ETF	12.04%	17.51%
OTGL OTG Latin America ETF	9.47%	13.64%

Correlation

The correlation between EWW and OTGL is 0.71, 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.	0.71
Correlation (All Time) Calculated using the full available price history since Jul 14, 2025	0.71

The correlation between EWW and OTGL has been stable across timeframes, ranging from 0.71 to 0.71 - a consistent structural relationship.

Return for Risk

EWW vs. OTGL — Risk / Return Rank

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

EWW

EWW Risk / Return Rank: 62
EWW Sharpe Ratio Rank: 62
EWW Sortino Ratio Rank: 61
EWW Omega Ratio Rank: 59
EWW Calmar Ratio Rank: 66
EWW Martin Ratio Rank: 62

OTGL

OTGL Risk / Return Rank: 49
OTGL Sharpe Ratio Rank: 51
OTGL Sortino Ratio Rank: 50
OTGL Omega Ratio Rank: 50
OTGL Calmar Ratio Rank: 50
OTGL Martin Ratio Rank: 42

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.

EWW vs. OTGL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Mexico ETF (EWW) and OTG Latin America ETF (OTGL). 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.

	EWW	OTGL	Difference
Sharpe ratio: Return per unit of total volatility	1.50	1.38	+0.12
Sortino ratio: Return per unit of downside risk	2.12	1.95	+0.17
Omega ratio: Gain probability vs. loss probability	1.26	1.25	+0.02
Calmar ratio: Return relative to maximum drawdown	2.36	1.93	+0.43
Martin ratio: Return relative to average drawdown	7.62	4.95	+2.68

EWW vs. OTGL - Sharpe Ratio Comparison

The current EWW Sharpe Ratio is 1.50, which is comparable to the OTGL Sharpe Ratio of 1.38. The chart below compares the historical Sharpe Ratios of EWW and OTGL, 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

EWW vs. OTGL - Drawdown Comparison

The maximum EWW drawdown since its inception was -64.94%, which is greater than OTGL's maximum drawdown of -13.52%. Use the drawdown chart below to compare losses from any high point for EWW and OTGL.

Drawdown Indicators

	EWW	OTGL	Difference
Max Drawdown Largest peak-to-trough decline	-64.94%	-13.52%	-51.42%
Max Drawdown (1Y) Largest decline over 1 year	-13.98%	-13.52%	-0.46%
Max Drawdown (3Y) Largest decline over 3 years	-31.17%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-31.17%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-53.62%	—	—
Current Drawdown Current decline from peak	-4.37%	-5.66%	+1.29%
Average Drawdown Average peak-to-trough decline	-18.45%	-3.78%	-14.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.32%	5.26%	-0.94%

Volatility

EWW vs. OTGL - Volatility Comparison

iShares MSCI Mexico ETF (EWW) has a higher volatility of 5.26% compared to OTG Latin America ETF (OTGL) at 4.52%. This indicates that EWW's price experiences larger fluctuations and is considered to be riskier than OTGL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EWW	OTGL	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.26%	4.52%	+0.74%
Volatility (6M) Calculated over the trailing 6-month period	18.05%	15.08%	+2.97%
Volatility (1Y) Calculated over the trailing 1-year period	22.07%	18.98%	+3.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.57%	18.74%	+3.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.25%	18.74%	+6.51%

EWW vs. OTGL - Expense Ratio Comparison

EWW has a 0.50% expense ratio, which is lower than OTGL's 0.95% expense ratio.

Dividends

EWW vs. OTGL - Dividend Comparison

EWW's dividend yield for the trailing twelve months is around 3.22%, more than OTGL's 2.72% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EWW iShares MSCI Mexico ETF	3.22%	3.48%	4.39%	2.19%	3.64%	2.06%	1.43%	2.92%	2.30%	2.22%	1.77%	2.34%
OTGL OTG Latin America ETF	2.72%	1.89%	0.00%	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 EWW and OTGL in my portfolio?

EWW and OTGL have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EWW or OTGL?

EWW has higher volatility (5.26%) compared to OTGL (4.52%). In terms of maximum drawdown, EWW dropped -64.94% vs OTGL's -13.52%.

Which ETF is better, EWW or OTGL?

On 1-year performance, EWW leads with 32.83% vs 25.96% for OTGL. On fees, EWW is cheaper at 0.50% per year. On volatility, OTGL has been the lower-risk option at 4.52%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EWW or OTGL?

Over the 1-year period, EWW has performed better with a 32.83% return vs 25.96%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EWW or OTGL?

EWW is cheaper with a 0.50% expense ratio, compared with 0.95% for OTGL.

Which ETF pays a higher dividend yield, EWW or OTGL?

EWW has the higher dividend yield at 3.22%, compared with 2.72% for OTGL.

What is the main difference between EWW and OTGL?

EWW tracks MSCI Mexico IMI 25/50 Index, while OTGL tracks Actively Managed. They also come from different issuers: iShares and OTG. Their fees differ too: 0.50% for EWW and 0.95% for OTGL.

Which has better risk-adjusted returns?

EWW currently has the higher Sharpe Ratio (1.50 vs 1.38), 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.