EWZ vs. HL
EWZ (iShares MSCI Brazil ETF) is Latin America Equities fund tracking the MSCI Brazil 25/50 Index, while HL (Hecla Mining Company) is a stock. Over the past 10 years, EWZ returned 6.64%/yr vs 8.43%/yr for HL. Their 0.31 correlation means their historical movements had little consistent relationship.
Performance
EWZ vs. HL - Performance Comparison
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Returns By Period
In the year-to-date period, EWZ achieves a 16.46% return, which is significantly higher than HL's -26.39% return. Over the past 10 years, EWZ has underperformed HL with an annualized return of 6.64%, while HL has yielded a comparatively higher 8.43% annualized return.
EWZ
- 1D
- 0.33%
- 1M
- 7.23%
- 6M
- -0.11%
- YTD
- 16.46%
- 1Y
- 44.24%
- 3Y*
- 9.53%
- 5Y*
- 7.67%
- 10Y*
- 6.64%
- ALL TIME*
- 6.52%
HL
- 1D
- -5.43%
- 1M
- -9.43%
- 6M
- -37.28%
- YTD
- -26.39%
- 1Y
- 146.28%
- 3Y*
- 37.43%
- 5Y*
- 16.67%
- 10Y*
- 8.43%
- ALL TIME*
- -0.08%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $598.51M | $637.15M | $833.60M | |
| $675.62M | $596.53M | $453.27M |
EWZ vs. HL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EWZ iShares MSCI Brazil ETF | 16.46% | 48.81% | -30.41% | 32.62% | 12.09% | -17.32% | -20.35% | 27.67% | -2.52% | 23.62% |
HL Hecla Mining Company | -26.39% | 291.70% | 2.82% | -12.93% | 6.99% | -18.97% | 91.83% | 44.43% | -40.37% | -24.08% |
Correlation
The correlation between EWZ and HL is 0.39, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.39 |
Correlation (3Y) Balances recent behavior with more history. | 0.35 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.35 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.32 |
Correlation (All Time) Calculated using the full available price history since Jul 14, 2000 | 0.31 |
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Return for Risk
EWZ vs. HL — Risk / Return Rank
EWZ
HL
EWZ vs. HL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Brazil ETF (EWZ) and Hecla Mining Company (HL). 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 | HL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.22 | ||
| Sortino ratioReturn per unit of downside risk | -0.15 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.30 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 2.31 | 2.64 | -0.33 |
| Martin ratioReturn relative to average drawdown | 5.64 | 4.75 | +0.89 |
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Drawdowns
EWZ vs. HL - Drawdown Comparison
The maximum EWZ drawdown since its inception was -77.25%, smaller than the maximum HL drawdown of -97.92%. Use the drawdown chart below to compare losses from any high point for EWZ and HL.
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Drawdown Indicators
| EWZ | HL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -77.25% | -97.92% | +20.67% |
Max Drawdown (1Y)Largest decline over 1 year | -19.27% | -55.81% | +36.54% |
Max Drawdown (3Y)Largest decline over 3 years | -31.36% | -55.81% | +24.45% |
Max Drawdown (5Y)Largest decline over 5 years | -32.24% | -55.81% | +23.57% |
Max Drawdown (10Y)Largest decline over 10 years | -56.99% | -82.45% | +25.46% |
Current DrawdownCurrent decline from peak | -18.89% | -55.59% | +36.70% |
Average DrawdownAverage peak-to-trough decline | -35.86% | -69.88% | +34.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.86% | 30.92% | -23.06% |
Volatility
EWZ vs. HL - Volatility Comparison
The current volatility for iShares MSCI Brazil ETF (EWZ) is 6.69%, while Hecla Mining Company (HL) has a volatility of 17.22%. This indicates that EWZ experiences smaller price fluctuations and is considered to be less risky than HL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EWZ | HL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.69% | 17.22% | -10.53% |
Volatility (6M)Calculated over the trailing 6-month period | 19.32% | 51.30% | -31.98% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.12% | 73.85% | -48.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 27.46% | 59.58% | -32.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 33.90% | 62.79% | -28.89% |
Dividends
EWZ vs. HL - Dividend Comparison
EWZ's dividend yield for the trailing twelve months is around 3.99%, more than HL's 0.11% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EWZ iShares MSCI Brazil ETF | 3.99% | 5.19% | 8.91% | 5.66% | 12.59% | 9.87% | 1.71% | 2.54% | 2.89% | 1.71% | 1.81% | 4.08% |
HL Hecla Mining Company | 0.11% | 0.08% | 0.81% | 0.65% | 0.40% | 0.72% | 0.25% | 0.29% | 0.42% | 0.25% | 0.19% | 0.53% |
Frequently Asked Questions
EWZ and HL have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HL has higher volatility (17.22%) compared to EWZ (6.69%). In terms of maximum drawdown, EWZ dropped -77.25% vs HL's -97.92%.
HL currently has the higher Sharpe Ratio (1.99 vs 1.77), 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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