EWZS vs. ECH
EWZS (iShares MSCI Brazil Small-Cap ETF) and ECH (iShares MSCI Chile ETF) are both Latin America Equities funds from iShares - EWZS tracks the MSCI Brazil Small Cap Index while ECH tracks the MSCI Chile Investable Market Index. Both are passively managed. Over the past 10 years, EWZS returned 4.94%/yr vs 3.52%/yr for ECH. Their 0.53 correlation means they have sometimes moved together and sometimes differently. Both charge a 0.59% expense ratio.
Performance
EWZS vs. ECH - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, EWZS achieves a 3.21% return, which is significantly higher than ECH's -1.11% return. Over the past 10 years, EWZS has outperformed ECH with an annualized return of 4.94%, while ECH has yielded a comparatively lower 3.52% annualized return.
EWZS
- 1D
- -0.23%
- 1M
- 1.77%
- 6M
- -10.01%
- YTD
- 3.21%
- 1Y
- 15.12%
- 3Y*
- -1.60%
- 5Y*
- -2.31%
- 10Y*
- 4.94%
- ALL TIME*
- -1.15%
ECH
- 1D
- -1.23%
- 1M
- 0.51%
- 6M
- -11.69%
- YTD
- -1.11%
- 1Y
- 33.73%
- 3Y*
- 11.11%
- 5Y*
- 12.16%
- 10Y*
- 3.52%
- ALL TIME*
- 1.35%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $9.62M | $13.53M | $17.14M | |
| $1.16M | $1.70M | $5.15M |
EWZS vs. ECH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EWZS iShares MSCI Brazil Small-Cap ETF | 3.21% | 45.18% | -35.95% | 32.65% | -11.20% | -14.09% | -20.86% | 50.60% | -7.13% | 54.18% |
ECH iShares MSCI Chile ETF | -1.11% | 65.41% | -8.67% | 9.01% | 25.12% | -19.80% | -7.13% | -17.79% | -18.98% | 41.79% |
Correlation
The correlation between EWZS and ECH is 0.65, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.65 |
Correlation (3Y) Balances recent behavior with more history. | 0.54 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.49 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.49 |
Correlation (All Time) Calculated using the full available price history since Sep 29, 2010 | 0.53 |
The correlation between EWZS and ECH shifts across timeframes, from 0.49 (10 years) to 0.65 (1 year), reflecting how their relationship changes across market environments.
EWZS vs. ECH - Sectors Allocation Comparison
Sectors
EWZS
ECH
Real Estate
Utilities
Consumer Cyclical
Basic Materials
Consumer Defensive
Industrials
Financial Services
Healthcare
-
Technology
-
Energy
-
Communication Services
-
Real Estate
EWZS
ECH
Utilities
EWZS
ECH
Consumer Cyclical
EWZS
ECH
Basic Materials
EWZS
ECH
Consumer Defensive
EWZS
ECH
Industrials
EWZS
ECH
Financial Services
EWZS
ECH
Healthcare
EWZS
ECH
-
Technology
EWZS
ECH
-
Energy
EWZS
ECH
-
Communication Services
EWZS
-
ECH
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
EWZS vs. ECH — Risk / Return Rank
EWZS
ECH
EWZS vs. ECH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Brazil Small-Cap ETF (EWZS) and iShares MSCI Chile ETF (ECH). 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.
| EWZS | ECH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.82 | ||
| Sortino ratioReturn per unit of downside risk | -0.95 | ||
| Omega ratioGain probability vs. loss probability | 1.11 | 1.23 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | 0.75 | 1.75 | -1.00 |
| Martin ratioReturn relative to average drawdown | 1.67 | 3.55 | -1.88 |
Loading charts...
Drawdowns
EWZS vs. ECH - Drawdown Comparison
The maximum EWZS drawdown since its inception was -79.23%, which is greater than ECH's maximum drawdown of -74.08%. Use the drawdown chart below to compare losses from any high point for EWZS and ECH.
Loading charts...
Drawdown Indicators
| EWZS | ECH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -79.23% | -74.08% | -5.15% |
Max Drawdown (1Y)Largest decline over 1 year | -21.53% | -19.74% | -1.79% |
Max Drawdown (3Y)Largest decline over 3 years | -37.33% | -20.51% | -16.82% |
Max Drawdown (5Y)Largest decline over 5 years | -42.60% | -25.59% | -17.01% |
Max Drawdown (10Y)Largest decline over 10 years | -63.15% | -66.89% | +3.74% |
Current DrawdownCurrent decline from peak | -32.13% | -26.52% | -5.61% |
Average DrawdownAverage peak-to-trough decline | -36.52% | -37.41% | +0.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.67% | 9.71% | -0.04% |
Volatility
EWZS vs. ECH - Volatility Comparison
iShares MSCI Brazil Small-Cap ETF (EWZS) has a higher volatility of 8.00% compared to iShares MSCI Chile ETF (ECH) at 6.38%. This indicates that EWZS's price experiences larger fluctuations and is considered to be riskier than ECH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| EWZS | ECH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.00% | 6.38% | +1.62% |
Volatility (6M)Calculated over the trailing 6-month period | 24.39% | 21.15% | +3.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 30.89% | 25.69% | +5.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 33.01% | 27.49% | +5.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 36.69% | 27.22% | +9.47% |
EWZS vs. ECH - Expense Ratio Comparison
Both EWZS and ECH have an expense ratio of 0.59%.
Dividends
EWZS vs. ECH - Dividend Comparison
EWZS's dividend yield for the trailing twelve months is around 3.87%, more than ECH's 2.00% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ECH iShares MSCI Chile ETF | 2.00% | 2.01% | 3.12% | 4.77% | 6.73% | 5.49% | 2.16% | 2.47% | 2.37% | 1.42% | 1.85% | 2.13% |
EWZS iShares MSCI Brazil Small-Cap ETF | 3.87% | 3.88% | 4.93% | 2.75% | 4.61% | 4.51% | 1.15% | 1.77% | 4.35% | 3.41% | 3.62% | 4.35% |
Frequently Asked Questions
EWZS and ECH have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EWZS has higher volatility (8.00%) compared to ECH (6.38%). In terms of maximum drawdown, EWZS dropped -79.23% vs ECH's -74.08%.
On 10-year performance, EWZS leads with 4.94% vs 3.52% for ECH. Both ETFs have the same 0.59% expense ratio. On volatility, ECH has been the lower-risk option at 6.38%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, EWZS has performed better with a 4.94% return vs 3.52%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
EWZS and ECH have the same expense ratio: 0.59% per year.
EWZS has the higher dividend yield at 3.87%, compared with 2.00% for ECH.
EWZS tracks MSCI Brazil Small Cap Index, while ECH tracks MSCI Chile Investable Market Index.
ECH currently has the higher Sharpe Ratio (1.35 vs 0.52), 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 EWZS and ECH
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