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EWZ vs. IYH
Performance
Return for Risk
Drawdowns
Volatility
Dividends

EWZ vs. IYH

Last updated Jun 9, 2026

EWZ (iShares MSCI Brazil ETF) and IYH (iShares U.S. Healthcare ETF) are both exchange-traded funds - EWZ is a Latin America Equities fund tracking the MSCI Brazil 25/50 Index, while IYH is a Health & Biotech Equities fund tracking the Dow Jones U.S. Health Care Index. Both are passively managed. Over the past 10 years, EWZ returned 7.53%/yr vs 9.38%/yr for IYH. At a 0.37 correlation, their price movements are largely independent. EWZ charges 0.59%/yr vs 0.43%/yr for IYH.

Performance

EWZ vs. IYH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI Brazil ETF (EWZ) and iShares U.S. Healthcare ETF (IYH). 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 6.04% return, which is significantly higher than IYH's -1.29% return. Over the past 10 years, EWZ has underperformed IYH with an annualized return of 7.53%, while IYH has yielded a comparatively higher 9.38% annualized return.

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%

IYH

1D
-0.28%
1M
6.02%
YTD
-1.29%
6M
0.79%
1Y
15.28%
3Y*
6.60%
5Y*
4.95%
10Y*
9.38%
*Multi-year figures are annualized to reflect compound growth (CAGR)

EWZ vs. IYH - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
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%
IYH
iShares U.S. Healthcare ETF		-1.29%13.16%2.99%2.14%-4.46%23.41%15.56%20.80%5.80%22.27%

Correlation

The correlation between EWZ and IYH is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.17

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

0.21

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

0.24

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

0.30

Correlation (All Time)
Calculated using the full available price history since Jul 17, 2000

0.37

Over the past year, the correlation between EWZ and IYH has dropped to 0.17 - well below their long-term average of 0.37, suggesting their price drivers have been diverging.

EWZ vs. IYH - Sectors Allocation Comparison

Sectors
EWZ
IYH

Financial Services

32.7%

-

Energy

18.5%

-

Basic Materials

13.7%

-

Utilities

12.9%

-

Industrials

10.9%

-

Consumer Defensive

4.2%

-

Healthcare

2.4%
100.0%

Communication Services

2.2%

-

Consumer Cyclical

1.5%

-

Technology

1.0%

-

Real Estate

-

-

Financial Services

EWZ
32.7%
IYH

-

Energy

EWZ
18.5%
IYH

-

Basic Materials

EWZ
13.7%
IYH

-

Utilities

EWZ
12.9%
IYH

-

Industrials

EWZ
10.9%
IYH

-

Consumer Defensive

EWZ
4.2%
IYH

-

Healthcare

EWZ
2.4%
IYH
100.0%

Communication Services

EWZ
2.2%
IYH

-

Consumer Cyclical

EWZ
1.5%
IYH

-

Technology

EWZ
1.0%
IYH

-

Real Estate

EWZ

-

IYH

-

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

iShares U.S. Healthcare ETF

Often compared with EWZ:
EWZ vs. EWZSEWZ vs. SPYEWZ vs. FLBREWZ vs. ILFEWZ vs. EWWEWZ vs. IBZL.LEWZ vs. ARGT
Often compared with IYH:
IYH vs. VHTIYH vs. XLVIYH vs. SPYIYH vs. IYEIYH vs. IFRAIYH vs. BMEDIYH vs. IBB

Return for Risk

EWZ vs. IYH — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
EWZ
EWZ Risk / Return Rank: 3434
Overall Rank
EWZ Sharpe Ratio Rank: 3434
Sharpe Ratio Rank
EWZ Sortino Ratio Rank: 3333
Sortino Ratio Rank
EWZ Omega Ratio Rank: 3333
Omega Ratio Rank
EWZ Calmar Ratio Rank: 3333
Calmar Ratio Rank
EWZ Martin Ratio Rank: 3535
Martin Ratio Rank
IYH
IYH Risk / Return Rank: 3131
Overall Rank
IYH Sharpe Ratio Rank: 3131
Sharpe Ratio Rank
IYH Sortino Ratio Rank: 3333
Sortino Ratio Rank
IYH Omega Ratio Rank: 3030
Omega Ratio Rank
IYH Calmar Ratio Rank: 3232
Calmar Ratio Rank
IYH Martin Ratio Rank: 2727
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. IYH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Brazil ETF (EWZ) and iShares U.S. Healthcare ETF (IYH). 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.

EWZIYHDifference
Sharpe ratioReturn per unit of total volatility
1.13
1.02

+0.10

Sortino ratioReturn per unit of downside risk
1.61
1.64

-0.03

Omega ratioGain probability vs. loss probability

1.20

1.18

+0.02

Calmar ratioReturn relative to maximum drawdown

1.47

1.44

+0.03

Martin ratioReturn relative to average drawdown

4.96

3.45

+1.51

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EWZ vs. IYH - Sharpe Ratio Comparison

The current EWZ Sharpe Ratio is 1.13, which is comparable to the IYH Sharpe Ratio of 1.02. The chart below compares the historical Sharpe Ratios of EWZ and IYH, 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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Sharpe Ratios by Period

EWZIYHDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.13

1.02

+0.10

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.14

0.33

-0.19

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.22

0.56

-0.34

Sharpe Ratio (All Time)

Calculated using the full available price history

0.16

0.43

-0.27

Drawdowns

EWZ vs. IYH - Drawdown Comparison

The maximum EWZ drawdown since its inception was -77.25%, which is greater than IYH's maximum drawdown of -43.12%. Use the drawdown chart below to compare losses from any high point for EWZ and IYH.

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Drawdown Indicators

EWZIYHDifference

Max Drawdown

Largest peak-to-trough decline

-77.25%

-43.12%

-34.13%

Max Drawdown (1Y)

Largest decline over 1 year

-19.27%

-10.64%

-8.63%

Max Drawdown (3Y)

Largest decline over 3 years

-31.36%

-17.91%

-13.45%

Max Drawdown (5Y)

Largest decline over 5 years

-32.24%

-17.91%

-14.33%

Max Drawdown (10Y)

Largest decline over 10 years

-56.99%

-28.40%

-28.59%

Current Drawdown

Current decline from peak

-26.15%

-4.56%

-21.59%

Average Drawdown

Average peak-to-trough decline

-35.95%

-8.96%

-26.99%

Ulcer Index

Depth and duration of drawdowns from previous peaks

5.68%

4.43%

+1.25%

Volatility

EWZ vs. IYH - Volatility Comparison

iShares MSCI Brazil ETF (EWZ) has a higher volatility of 7.32% compared to iShares U.S. Healthcare ETF (IYH) at 4.97%. This indicates that EWZ's price experiences larger fluctuations and is considered to be riskier than IYH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

EWZIYHDifference

Volatility (1M)

Calculated over the trailing 1-month period

7.32%

4.97%

+2.35%

Volatility (6M)

Calculated over the trailing 6-month period

20.79%

10.67%

+10.12%

Volatility (1Y)

Calculated over the trailing 1-year period

25.12%

15.03%

+10.09%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

27.68%

14.97%

+12.71%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

34.07%

16.74%

+17.33%

EWZ vs. IYH - Expense Ratio Comparison

EWZ has a 0.59% expense ratio, which is higher than IYH's 0.43% expense ratio.

Dividends

EWZ vs. IYH - Dividend Comparison

EWZ's dividend yield for the trailing twelve months is around 4.89%, more than IYH's 1.26% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
IYH
iShares U.S. Healthcare ETF		1.26%1.19%1.25%1.18%1.10%0.94%1.16%1.14%1.95%1.10%1.29%2.02%

Frequently Asked Questions

EWZ and IYH have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

EWZ has higher volatility (7.32%) compared to IYH (4.97%). In terms of maximum drawdown, EWZ dropped -77.25% vs IYH's -43.12%.

On 10-year performance, IYH leads with 9.38% vs 7.53% for EWZ. On fees, IYH is cheaper at 0.43% per year. On volatility, IYH has been the lower-risk option at 4.97%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, IYH has performed better with a 9.38% return vs 7.53%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

IYH is cheaper with a 0.43% expense ratio, compared with 0.59% for EWZ.

EWZ has the higher dividend yield at 4.89%, compared with 1.26% for IYH.

EWZ is categorized as Latin America Equities, while IYH is Health & Biotech Equities. EWZ tracks MSCI Brazil 25/50 Index, while IYH tracks Dow Jones U.S. Health Care Index. Their fees differ too: 0.59% for EWZ and 0.43% for IYH.

EWZ currently has the higher Sharpe Ratio (1.13 vs 1.02), 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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