EWZ vs. COMT
EWZ (iShares MSCI Brazil ETF) and COMT (iShares GSCI Commodity Dynamic Roll Strategy ETF) are both exchange-traded funds - EWZ is a Latin America Equities fund tracking the MSCI Brazil 25/50 Index, while COMT is a Commodities fund tracking the S&P GSCI Dynamic Roll (USD) Total Return Index. Both are passively managed. Over the past 10 years, EWZ returned 6.86%/yr vs 7.87%/yr for COMT. At a 0.36 correlation, their price movements are largely independent. EWZ charges 0.59%/yr vs 0.48%/yr for COMT.
Performance
EWZ vs. COMT - Performance Comparison
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Returns By Period
In the year-to-date period, EWZ achieves a 14.17% return, which is significantly lower than COMT's 26.00% return. Over the past 10 years, EWZ has underperformed COMT with an annualized return of 6.86%, while COMT has yielded a comparatively higher 7.87% annualized return.
EWZ
- 1D
- 2.77%
- 1M
- 4.20%
- 6M
- 9.71%
- YTD
- 14.17%
- 1Y
- 36.37%
- 3Y*
- 10.52%
- 5Y*
- 6.56%
- 10Y*
- 6.86%
COMT
- 1D
- -0.17%
- 1M
- -4.70%
- 6M
- 23.49%
- YTD
- 26.00%
- 1Y
- 27.75%
- 3Y*
- 11.57%
- 5Y*
- 11.09%
- 10Y*
- 7.87%
EWZ vs. COMT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EWZ iShares MSCI Brazil ETF | 14.17% | 48.81% | -30.41% | 32.62% | 12.09% | -17.32% | -20.35% | 27.67% | -2.52% | 23.62% |
COMT iShares GSCI Commodity Dynamic Roll Strategy ETF | 26.00% | 6.07% | 5.96% | -6.56% | 19.45% | 36.88% | -18.66% | 10.81% | -6.67% | 11.70% |
Correlation
The correlation between EWZ and COMT is -0.04, 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 | -0.04 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.14 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.22 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.31 |
Correlation (All Time) Calculated using the full available price history since Oct 16, 2014 | 0.36 |
The correlation between EWZ and COMT shifts across timeframes, from -0.04 (1 year) to 0.36 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
EWZ vs. COMT — Risk / Return Rank
EWZ
COMT
EWZ vs. COMT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Brazil ETF (EWZ) and iShares GSCI Commodity Dynamic Roll Strategy ETF (COMT). 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.
| EWZ | COMT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.06 | ||
| Sortino ratioReturn per unit of downside risk | +0.05 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.24 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.85 | 1.66 | +0.18 |
| Martin ratioReturn relative to average drawdown | 4.94 | 5.78 | -0.85 |
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Drawdowns
EWZ vs. COMT - Drawdown Comparison
The maximum EWZ drawdown since its inception was -77.25%, which is greater than COMT's maximum drawdown of -51.89%. Use the drawdown chart below to compare losses from any high point for EWZ and COMT.
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Drawdown Indicators
| EWZ | COMT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -77.25% | -51.89% | -25.36% |
Max Drawdown (1Y)Largest decline over 1 year | -19.27% | -17.57% | -1.70% |
Max Drawdown (3Y)Largest decline over 3 years | -31.36% | -17.57% | -13.79% |
Max Drawdown (5Y)Largest decline over 5 years | -32.24% | -29.00% | -3.24% |
Max Drawdown (10Y)Largest decline over 10 years | -56.99% | -39.22% | -17.77% |
Current DrawdownCurrent decline from peak | -20.49% | -14.13% | -6.36% |
Average DrawdownAverage peak-to-trough decline | -35.90% | -23.97% | -11.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.20% | 5.05% | +2.15% |
Volatility
EWZ vs. COMT - Volatility Comparison
iShares MSCI Brazil ETF (EWZ) and iShares GSCI Commodity Dynamic Roll Strategy ETF (COMT) have volatilities of 5.74% and 5.68%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EWZ | COMT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.74% | 5.68% | +0.06% |
Volatility (6M)Calculated over the trailing 6-month period | 19.70% | 19.60% | +0.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.98% | 21.45% | +3.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 27.60% | 21.17% | +6.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 33.90% | 18.84% | +15.06% |
EWZ vs. COMT - Expense Ratio Comparison
EWZ has a 0.59% expense ratio, which is higher than COMT's 0.48% expense ratio.
Dividends
EWZ vs. COMT - Dividend Comparison
EWZ's dividend yield for the trailing twelve months is around 4.07%, less than COMT's 6.14% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
COMT iShares GSCI Commodity Dynamic Roll Strategy ETF | 6.14% | 7.74% | 4.90% | 5.19% | 29.79% | 17.79% | 0.36% | 2.61% | 11.65% | 5.16% | 0.52% | 1.44% |
EWZ iShares MSCI Brazil ETF | 4.07% | 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 COMT have a correlation of -0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EWZ has higher volatility (5.74%) compared to COMT (5.68%). In terms of maximum drawdown, EWZ dropped -77.25% vs COMT's -51.89%.
On 10-year performance, COMT leads with 7.87% vs 6.86% for EWZ. On fees, COMT is cheaper at 0.48% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, COMT has performed better with a 7.87% return vs 6.86%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
COMT is cheaper with a 0.48% expense ratio, compared with 0.59% for EWZ.
COMT has the higher dividend yield at 6.14%, compared with 4.07% for EWZ.
EWZ is categorized as Latin America Equities, while COMT is Commodities. EWZ tracks MSCI Brazil 25/50 Index, while COMT tracks S&P GSCI Dynamic Roll (USD) Total Return Index. Their fees differ too: 0.59% for EWZ and 0.48% for COMT.
EWZ currently has the higher Sharpe Ratio (1.43 vs 1.36), 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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