EWZ vs. AVDL

Last updated Jun 9, 2026

EWZ (iShares MSCI Brazil ETF) is Latin America Equities fund tracking the MSCI Brazil 25/50 Index, while AVDL (Avadel Pharmaceuticals plc) is a stock. At a 0.17 correlation, their price movements are largely independent.

Performance

EWZ vs. AVDL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI Brazil ETF (EWZ) and Avadel Pharmaceuticals plc (AVDL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

EWZ

• 1D: -0.94%
• 1M: -13.88%
• YTD: 6.04%
• 6M: 6.47%
• 1Y: 28.14%
• 3Y*: 7.95%
• 5Y*: 3.87%
• 10Y*: 7.53%

AVDL

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

EWZ vs. AVDL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EWZ iShares MSCI Brazil ETF	6.04%	48.81%	-30.41%	32.62%	12.09%	-17.32%	-20.35%	27.67%	-2.52%	23.62%
AVDL Avadel Pharmaceuticals plc	0.42%	105.04%	-25.57%	97.21%	-11.39%	20.96%	-11.52%	192.64%	-68.54%	-21.08%

Correlation

The correlation between EWZ and AVDL is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.11
Correlation (3Y) Calculated over the trailing 3-year period	0.12
Correlation (5Y) Calculated over the trailing 5-year period	0.15
Correlation (10Y) Calculated over the trailing 10-year period	0.14
Correlation (All Time) Calculated using the full available price history since Jul 14, 2000	0.17

Return for Risk

EWZ vs. AVDL — Risk / Return Rank

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

EWZ

EWZ Risk / Return Rank: 34
EWZ Sharpe Ratio Rank: 34
EWZ Sortino Ratio Rank: 33
EWZ Omega Ratio Rank: 33
EWZ Calmar Ratio Rank: 33
EWZ Martin Ratio Rank: 35

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.

EWZ vs. AVDL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Brazil ETF (EWZ) and Avadel Pharmaceuticals plc (AVDL). 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.

	EWZ	AVDL	Difference
Sharpe ratio: Return per unit of total volatility	1.13	—	—
Sortino ratio: Return per unit of downside risk	1.61	—	—
Omega ratio: Gain probability vs. loss probability	1.20	—	—
Calmar ratio: Return relative to maximum drawdown	1.47	—	—
Martin ratio: Return relative to average drawdown	4.96	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	EWZ	AVDL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.13	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.14	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.22	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.16	—	—

Drawdowns

Drawdown Indicators

	EWZ	AVDL	Difference
Max Drawdown Largest peak-to-trough decline	-77.25%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-19.27%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-31.36%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-32.24%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-56.99%	—	—
Current Drawdown Current decline from peak	-26.15%	—	—
Average Drawdown Average peak-to-trough decline	-35.95%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	5.68%	—	—

Volatility

Volatility by Period

	EWZ	AVDL	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.32%	—	—
Volatility (6M) Calculated over the trailing 6-month period	20.79%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	25.12%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.68%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	34.07%	—	—

Dividends

EWZ vs. AVDL - Dividend Comparison

EWZ's dividend yield for the trailing twelve months is around 4.89%, while AVDL has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AVDL Avadel Pharmaceuticals plc	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
EWZ iShares MSCI Brazil ETF	4.89%	5.19%	8.91%	5.66%	12.59%	9.87%	1.71%	2.54%	2.89%	1.71%	1.81%	4.08%

Frequently Asked Questions

Can I hold both EWZ and AVDL in my portfolio?

EWZ and AVDL have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.