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EWZ vs. BP
Performance
Return for Risk
Drawdowns
Volatility
Dividends

EWZ vs. BP

Last updated Jun 14, 2026

EWZ (iShares MSCI Brazil ETF) is Latin America Equities fund tracking the MSCI Brazil 25/50 Index, while BP (BP p.l.c.) is a stock. Over the past 10 years, EWZ returned 8.29%/yr vs 9.35%/yr for BP. At a 0.44 correlation, their price movements are largely independent.

Performance

EWZ vs. BP - Performance Comparison

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

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Returns By Period

In the year-to-date period, EWZ achieves a 10.48% return, which is significantly lower than BP's 26.20% return. Over the past 10 years, EWZ has underperformed BP with an annualized return of 8.29%, while BP has yielded a comparatively higher 9.35% annualized return.

EWZ

1D
0.83%
1M
-3.12%
YTD
10.48%
6M
9.03%
1Y
31.51%
3Y*
9.47%
5Y*
4.96%
10Y*
8.29%

BP

1D
0.23%
1M
-3.54%
YTD
26.20%
6M
24.31%
1Y
42.14%
3Y*
12.73%
5Y*
14.80%
10Y*
9.35%
*Multi-year figures are annualized to reflect compound growth (CAGR)

EWZ vs. BP - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
EWZ
iShares MSCI Brazil ETF		10.48%48.81%-30.41%32.62%12.09%-17.32%-20.35%27.67%-2.52%23.62%
BP
BP p.l.c.		26.20%24.54%-11.84%6.00%37.01%36.38%-41.31%5.83%-4.57%20.02%

Correlation

The correlation between EWZ and BP is 0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.09

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

0.26

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

0.33

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

0.37

Correlation (All Time)
Calculated using the full available price history since Jul 14, 2000

0.44

Over the past year, the correlation between EWZ and BP has dropped to 0.09 - well below their long-term average of 0.44, suggesting their price drivers have been diverging.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares MSCI Brazil ETF

BP p.l.c.

Often compared with EWZ:
EWZ vs. EWZSEWZ vs. SPYEWZ vs. FLBREWZ vs. ILFEWZ vs. EWWEWZ vs. IBZL.LEWZ vs. ARGT
Often compared with BP:
BP vs. SHELL.ASBP vs. XOMBP vs. SPYBP vs. BZ=FBP vs. APABP vs. HALBP vs. CVI

Return for Risk

EWZ vs. BP — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
EWZ
EWZ Risk / Return Rank: 3838
Overall Rank
EWZ Sharpe Ratio Rank: 4040
Sharpe Ratio Rank
EWZ Sortino Ratio Rank: 3838
Sortino Ratio Rank
EWZ Omega Ratio Rank: 3838
Omega Ratio Rank
EWZ Calmar Ratio Rank: 3737
Calmar Ratio Rank
EWZ Martin Ratio Rank: 3737
Martin Ratio Rank
BP
BP Risk / Return Rank: 8585
Overall Rank
BP Sharpe Ratio Rank: 8686
Sharpe Ratio Rank
BP Sortino Ratio Rank: 8080
Sortino Ratio Rank
BP Omega Ratio Rank: 8080
Omega Ratio Rank
BP Calmar Ratio Rank: 8989
Calmar Ratio Rank
BP Martin Ratio Rank: 9090
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.

EWZ vs. BP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Brazil ETF (EWZ) and BP p.l.c. (BP). 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.

EWZBPDifference
Sharpe ratioReturn per unit of total volatility
1.25
1.72

-0.46

Sortino ratioReturn per unit of downside risk
1.76
2.19

-0.43

Omega ratioGain probability vs. loss probability

1.22

1.29

-0.06

Calmar ratioReturn relative to maximum drawdown

1.64

3.94

-2.30

Martin ratioReturn relative to average drawdown

5.17

10.91

-5.74

EWZ vs. BP - Sharpe Ratio Comparison

The current EWZ Sharpe Ratio is 1.25, which is comparable to the BP Sharpe Ratio of 1.72. The chart below compares the historical Sharpe Ratios of EWZ and BP, 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

EWZ vs. BP - Drawdown Comparison

The maximum EWZ drawdown since its inception was -77.25%, roughly equal to the maximum BP drawdown of -74.94%. Use the drawdown chart below to compare losses from any high point for EWZ and BP.

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Drawdown Indicators

EWZBPDifference

Max Drawdown

Largest peak-to-trough decline

-77.25%

-74.94%

-2.31%

Max Drawdown (1Y)

Largest decline over 1 year

-19.27%

-11.68%

-7.59%

Max Drawdown (3Y)

Largest decline over 3 years

-31.36%

-30.63%

-0.73%

Max Drawdown (5Y)

Largest decline over 5 years

-32.24%

-30.63%

-1.61%

Max Drawdown (10Y)

Largest decline over 10 years

-56.99%

-63.91%

+6.92%

Current Drawdown

Current decline from peak

-23.06%

-9.15%

-13.91%

Average Drawdown

Average peak-to-trough decline

-35.93%

-25.26%

-10.67%

Ulcer Index

Depth and duration of drawdowns from previous peaks

6.10%

4.21%

+1.89%

Volatility

EWZ vs. BP - Volatility Comparison

The current volatility for iShares MSCI Brazil ETF (EWZ) is 7.35%, while BP p.l.c. (BP) has a volatility of 8.25%. This indicates that EWZ experiences smaller price fluctuations and is considered to be less risky than BP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

EWZBPDifference

Volatility (1M)

Calculated over the trailing 1-month period

7.35%

8.25%

-0.90%

Volatility (6M)

Calculated over the trailing 6-month period

19.97%

22.05%

-2.08%

Volatility (1Y)

Calculated over the trailing 1-year period

25.20%

26.83%

-1.63%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

27.70%

28.62%

-0.92%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

34.04%

31.27%

+2.77%

Dividends

EWZ vs. BP - Dividend Comparison

EWZ's dividend yield for the trailing twelve months is around 4.70%, which matches BP's 4.67% yield.

PositionTTM20252024202320222021202020192018201720162015
BP
BP p.l.c.		4.67%5.64%6.20%4.71%3.94%4.83%9.21%6.52%6.41%5.66%6.37%7.63%
EWZ
iShares MSCI Brazil ETF		4.70%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

EWZ and BP have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

BP has higher volatility (8.25%) compared to EWZ (7.35%). In terms of maximum drawdown, EWZ dropped -77.25% vs BP's -74.94%.

BP currently has the higher Sharpe Ratio (1.72 vs 1.25), 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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