FLXB.DE vs. 4BRZ.DE
FLXB.DE (Franklin FTSE Brazil UCITS ETF) and 4BRZ.DE (iShares MSCI Brazil UCITS ETF (DE) USD (Acc)) are both Latin America Equities funds - FLXB.DE tracks the FTSE Brazil 30/18 Capped while 4BRZ.DE tracks the MSCI Brazil 25/50 Index. Both are passively managed. Over the past 5 years, FLXB.DE returned 7.29%/yr vs 6.36%/yr for 4BRZ.DE. With a 0.95 correlation, they move nearly in lockstep. FLXB.DE charges 0.19%/yr vs 0.31%/yr for 4BRZ.DE.
Performance
FLXB.DE vs. 4BRZ.DE - Performance Comparison
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Different Trading Currencies
FLXB.DE is traded in EUR, while 4BRZ.DE is traded in USD. To make them comparable, the 4BRZ.DE values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, FLXB.DE achieves a 19.65% return, which is significantly higher than 4BRZ.DE's 15.30% return.
FLXB.DE
- 1D
- -0.62%
- 1M
- 2.56%
- 6M
- 12.89%
- YTD
- 19.65%
- 1Y
- 38.96%
- 3Y*
- 10.60%
- 5Y*
- 7.29%
- 10Y*
- —
4BRZ.DE
- 1D
- -0.78%
- 1M
- 1.51%
- 6M
- 9.53%
- YTD
- 15.30%
- 1Y
- 35.91%
- 3Y*
- 8.92%
- 5Y*
- 6.36%
- 10Y*
- —
FLXB.DE vs. 4BRZ.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
FLXB.DE Franklin FTSE Brazil UCITS ETF | 19.65% | 29.00% | -23.71% | 28.92% | 18.81% | -11.32% | -26.36% | 0.74% |
4BRZ.DE iShares MSCI Brazil UCITS ETF (DE) USD (Acc) | 15.30% | 31.54% | -25.69% | 28.88% | 20.67% | -12.67% | -26.67% | 16.22% |
Correlation
The correlation between FLXB.DE and 4BRZ.DE is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.91 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.93 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.95 |
Correlation (All Time) Calculated using the full available price history since Jun 4, 2019 | 0.95 |
The correlation between FLXB.DE and 4BRZ.DE has been stable across timeframes, ranging from 0.91 to 0.95 - a consistent structural relationship.
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Return for Risk
FLXB.DE vs. 4BRZ.DE — Risk / Return Rank
FLXB.DE
4BRZ.DE
FLXB.DE vs. 4BRZ.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Franklin FTSE Brazil UCITS ETF (FLXB.DE) and iShares MSCI Brazil UCITS ETF (DE) USD (Acc) (4BRZ.DE). 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.
| FLXB.DE | 4BRZ.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.06 | ||
| Sortino ratioReturn per unit of downside risk | +0.04 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.27 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.44 | 2.02 | +0.42 |
| Martin ratioReturn relative to average drawdown | 6.35 | 5.44 | +0.91 |
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Drawdowns
FLXB.DE vs. 4BRZ.DE - Drawdown Comparison
The maximum FLXB.DE drawdown since its inception was -54.93%, roughly equal to the maximum 4BRZ.DE drawdown of -55.47%. Use the drawdown chart below to compare losses from any high point for FLXB.DE and 4BRZ.DE.
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Drawdown Indicators
| FLXB.DE | 4BRZ.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -54.93% | -55.47% | +0.54% |
Max Drawdown (1Y)Largest decline over 1 year | -15.88% | -17.71% | +1.83% |
Max Drawdown (3Y)Largest decline over 3 years | -25.86% | -28.14% | +2.28% |
Max Drawdown (5Y)Largest decline over 5 years | -26.72% | -28.14% | +1.42% |
Current DrawdownCurrent decline from peak | -11.11% | -11.93% | +0.82% |
Average DrawdownAverage peak-to-trough decline | -18.44% | -18.19% | -0.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.12% | 6.58% | -0.46% |
Volatility
FLXB.DE vs. 4BRZ.DE - Volatility Comparison
Franklin FTSE Brazil UCITS ETF (FLXB.DE) and iShares MSCI Brazil UCITS ETF (DE) USD (Acc) (4BRZ.DE) have volatilities of 4.60% and 4.56%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FLXB.DE | 4BRZ.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.60% | 4.56% | +0.04% |
Volatility (6M)Calculated over the trailing 6-month period | 17.66% | 17.31% | +0.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.48% | 22.45% | +1.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.96% | 26.71% | -0.75% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 31.29% | 32.55% | -1.26% |
FLXB.DE vs. 4BRZ.DE - Expense Ratio Comparison
FLXB.DE has a 0.19% expense ratio, which is lower than 4BRZ.DE's 0.31% expense ratio.
Dividends
FLXB.DE vs. 4BRZ.DE - Dividend Comparison
Neither FLXB.DE nor 4BRZ.DE has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.91, FLXB.DE and 4BRZ.DE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, FLXB.DE is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.
FLXB.DE is cheaper with a 0.19% expense ratio, compared with 0.31% for 4BRZ.DE.
FLXB.DE tracks FTSE Brazil 30/18 Capped, while 4BRZ.DE tracks MSCI Brazil 25/50 Index. They also come from different issuers: Franklin Templeton and iShares. Their fees differ too: 0.19% for FLXB.DE and 0.31% for 4BRZ.DE.
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