EWZS vs. OTGL
EWZS (iShares MSCI Brazil Small-Cap ETF) and OTGL (OTG Latin America ETF) are both Latin America Equities funds - EWZS tracks the MSCI Brazil Small Cap Index while OTGL tracks the Actively Managed. Both are passively managed. Over the past year, EWZS returned 15.12% vs 26.35% for OTGL. Their correlation of 0.83 means they have usually moved in the same direction. EWZS charges 0.59%/yr vs 0.95%/yr for OTGL.
Performance
EWZS vs. OTGL - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, EWZS achieves a 3.21% return, which is significantly lower than OTGL's 9.81% 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%
OTGL
- 1D
- 0.28%
- 1M
- 3.90%
- 6M
- -1.74%
- YTD
- 9.81%
- 1Y
- 26.35%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 23.57%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.16M | $1.70M | $5.15M | |
| $5.65K | $5.56K | $25.83K |
EWZS vs. OTGL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
EWZS iShares MSCI Brazil Small-Cap ETF | 3.21% | 6.53% |
OTGL OTG Latin America ETF | 9.81% | 13.64% |
Correlation
The correlation between EWZS and OTGL is 0.85, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.85 |
Correlation (All Time) Calculated using the full available price history since Jul 14, 2025 | 0.83 |
The correlation between EWZS and OTGL has been stable across timeframes, ranging from 0.83 to 0.85 - a consistent structural relationship.
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. OTGL — Risk / Return Rank
EWZS
OTGL
EWZS vs. OTGL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Brazil Small-Cap ETF (EWZS) and OTG Latin America ETF (OTGL). 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 | OTGL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.87 | ||
| Sortino ratioReturn per unit of downside risk | -1.04 | ||
| Omega ratioGain probability vs. loss probability | 1.11 | 1.25 | -0.14 |
| Calmar ratioReturn relative to maximum drawdown | 0.75 | 1.95 | -1.20 |
| Martin ratioReturn relative to average drawdown | 1.67 | 5.01 | -3.34 |
Loading charts...
Drawdowns
EWZS vs. OTGL - Drawdown Comparison
The maximum EWZS drawdown since its inception was -79.23%, which is greater than OTGL's maximum drawdown of -13.52%. Use the drawdown chart below to compare losses from any high point for EWZS and OTGL.
Loading charts...
Drawdown Indicators
| EWZS | OTGL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -79.23% | -13.52% | -65.71% |
Max Drawdown (1Y)Largest decline over 1 year | -21.53% | -13.52% | -8.01% |
Max Drawdown (3Y)Largest decline over 3 years | -37.33% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -42.60% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -63.15% | — | — |
Current DrawdownCurrent decline from peak | -32.13% | -5.37% | -26.76% |
Average DrawdownAverage peak-to-trough decline | -36.52% | -3.78% | -32.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.67% | 5.25% | +4.42% |
Volatility
EWZS vs. OTGL - Volatility Comparison
iShares MSCI Brazil Small-Cap ETF (EWZS) has a higher volatility of 8.00% compared to OTG Latin America ETF (OTGL) at 4.49%. This indicates that EWZS's price experiences larger fluctuations and is considered to be riskier than OTGL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| EWZS | OTGL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.00% | 4.49% | +3.51% |
Volatility (6M)Calculated over the trailing 6-month period | 24.39% | 15.28% | +9.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 30.89% | 18.95% | +11.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 33.01% | 18.77% | +14.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 36.69% | 18.77% | +17.92% |
EWZS vs. OTGL - Expense Ratio Comparison
EWZS has a 0.59% expense ratio, which is lower than OTGL's 0.95% expense ratio.
Dividends
EWZS vs. OTGL - Dividend Comparison
EWZS's dividend yield for the trailing twelve months is around 3.87%, more than OTGL's 2.71% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
OTGL OTG Latin America ETF | 2.71% | 1.89% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
EWZS and OTGL have a correlation of 0.85, 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 OTGL (4.49%). In terms of maximum drawdown, EWZS dropped -79.23% vs OTGL's -13.52%.
On 1-year performance, OTGL leads with 26.35% vs 15.12% for EWZS. On fees, EWZS is cheaper at 0.59% per year. On volatility, OTGL has been the lower-risk option at 4.49%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, OTGL has performed better with a 26.35% return vs 15.12%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
EWZS is cheaper with a 0.59% expense ratio, compared with 0.95% for OTGL.
EWZS has the higher dividend yield at 3.87%, compared with 2.71% for OTGL.
EWZS tracks MSCI Brazil Small Cap Index, while OTGL tracks Actively Managed. They also come from different issuers: iShares and OTG. Their fees differ too: 0.59% for EWZS and 0.95% for OTGL.
OTGL currently has the higher Sharpe Ratio (1.39 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 OTGL
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