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 6.86%/yr vs 10.98%/yr for HL. At a 0.31 correlation, their price movements are largely independent.
Performance
EWZ vs. HL - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, EWZ achieves a 14.17% return, which is significantly higher than HL's -17.53% return. Over the past 10 years, EWZ has underperformed HL with an annualized return of 6.86%, while HL has yielded a comparatively higher 10.98% 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%
HL
- 1D
- 0.19%
- 1M
- 5.54%
- 6M
- -29.50%
- YTD
- -17.53%
- 1Y
- 150.61%
- 3Y*
- 44.14%
- 5Y*
- 17.81%
- 10Y*
- 10.98%
EWZ vs. HL - 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% |
HL Hecla Mining Company | -17.53% | 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 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.36 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.35 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.35 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.31 |
Correlation (All Time) Calculated using the full available price history since Jul 14, 2000 | 0.31 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
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 | -0.89 | ||
| Sortino ratioReturn per unit of downside risk | -0.77 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.33 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 1.85 | 3.05 | -1.20 |
| Martin ratioReturn relative to average drawdown | 4.94 | 6.03 | -1.10 |
Loading charts...
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.
Loading charts...
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 | -20.49% | -50.25% | +29.76% |
Average DrawdownAverage peak-to-trough decline | -35.90% | -69.90% | +34.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.20% | 28.11% | -20.91% |
Volatility
EWZ vs. HL - Volatility Comparison
The current volatility for iShares MSCI Brazil ETF (EWZ) is 5.74%, while Hecla Mining Company (HL) has a volatility of 17.79%. 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.
Loading charts...
Volatility by Period
| EWZ | HL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.74% | 17.79% | -12.05% |
Volatility (6M)Calculated over the trailing 6-month period | 19.70% | 53.33% | -33.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.98% | 73.28% | -48.30% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 27.60% | 59.43% | -31.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 33.90% | 62.82% | -28.92% |
Dividends
EWZ vs. HL - Dividend Comparison
EWZ's dividend yield for the trailing twelve months is around 4.07%, more than HL's 0.09% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
HL Hecla Mining Company | 0.09% | 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 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HL has higher volatility (17.79%) compared to EWZ (5.74%). In terms of maximum drawdown, EWZ dropped -77.25% vs HL's -97.92%.
HL currently has the higher Sharpe Ratio (2.32 vs 1.43), 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.
Find the right allocation for EWZ and HL
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer