IBZL.L vs. AMEL.DE
IBZL.L (iShares MSCI Brazil UCITS ETF (Dist)) and AMEL.DE (Amundi MSCI Emerging Markets Latin America UCITS ETF EUR) are both Latin America Equities funds - IBZL.L tracks the MSCI Brazil NR USD while AMEL.DE tracks the MSCI Emerging Markets Latin America. Both are passively managed. Over the past 10 years, IBZL.L returned 9.70%/yr vs 8.47%/yr for AMEL.DE. Their correlation of 0.90 suggests significant overlap in exposure. IBZL.L charges 0.74%/yr vs 0.20%/yr for AMEL.DE.
Performance
IBZL.L vs. AMEL.DE - Performance Comparison
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Different Trading Currencies
IBZL.L is traded in GBp, while AMEL.DE is traded in EUR. To make them comparable, the AMEL.DE values have been converted to GBp using the latest available exchange rates.
Returns By Period
The year-to-date returns for both stocks are quite close, with IBZL.L having a 10.16% return and AMEL.DE slightly lower at 9.96%. Over the past 10 years, IBZL.L has outperformed AMEL.DE with an annualized return of 9.70%, while AMEL.DE has yielded a comparatively lower 8.47% annualized return.
IBZL.L
- 1D
- 0.18%
- 1M
- -12.01%
- YTD
- 10.16%
- 6M
- 3.73%
- 1Y
- 36.12%
- 3Y*
- 9.39%
- 5Y*
- 8.43%
- 10Y*
- 9.70%
AMEL.DE
- 1D
- -0.74%
- 1M
- -7.02%
- YTD
- 9.96%
- 6M
- 7.60%
- 1Y
- 38.17%
- 3Y*
- 10.93%
- 5Y*
- 9.63%
- 10Y*
- 8.47%
IBZL.L vs. AMEL.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IBZL.L iShares MSCI Brazil UCITS ETF (Dist) | 10.16% | 38.28% | -26.04% | 25.61% | 32.04% | -19.06% | -16.73% | 15.40% | 3.61% | 14.78% |
AMEL.DE Amundi MSCI Emerging Markets Latin America UCITS ETF EUR | 9.96% | 45.25% | -25.61% | 25.54% | 22.72% | -10.04% | -16.84% | 14.41% | -1.90% | 12.77% |
Correlation
The correlation between IBZL.L and AMEL.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 | 0.89 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.88 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.89 |
Correlation (All Time) Calculated using the full available price history since Dec 1, 2011 | 0.90 |
The correlation between IBZL.L and AMEL.DE has been stable across timeframes, ranging from 0.88 to 0.91 - a consistent structural relationship.
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Return for Risk
IBZL.L vs. AMEL.DE — Risk / Return Rank
IBZL.L
AMEL.DE
IBZL.L vs. AMEL.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Brazil UCITS ETF (Dist) (IBZL.L) and Amundi MSCI Emerging Markets Latin America UCITS ETF EUR (AMEL.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.
| IBZL.L | AMEL.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.43 | ||
| Sortino ratioReturn per unit of downside risk | -0.52 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.37 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 2.17 | 3.36 | -1.19 |
| Martin ratioReturn relative to average drawdown | 7.39 | 10.32 | -2.93 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| IBZL.L | AMEL.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.69 | 2.12 | -0.43 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.32 | 0.46 | -0.14 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.31 | 0.34 | -0.03 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.21 | 0.13 | +0.08 |
Drawdowns
IBZL.L vs. AMEL.DE - Drawdown Comparison
The maximum IBZL.L drawdown since its inception was -69.44%, which is greater than AMEL.DE's maximum drawdown of -56.09%. Use the drawdown chart below to compare losses from any high point for IBZL.L and AMEL.DE.
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Drawdown Indicators
| IBZL.L | AMEL.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -69.44% | -56.09% | -13.35% |
Max Drawdown (1Y)Largest decline over 1 year | -16.58% | -11.30% | -5.28% |
Max Drawdown (3Y)Largest decline over 3 years | -27.68% | -26.69% | -0.99% |
Max Drawdown (5Y)Largest decline over 5 years | -28.21% | -26.69% | -1.52% |
Max Drawdown (10Y)Largest decline over 10 years | -51.77% | -48.72% | -3.05% |
Current DrawdownCurrent decline from peak | -16.43% | -11.30% | -5.13% |
Average DrawdownAverage peak-to-trough decline | -21.85% | -18.05% | -3.80% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.87% | 3.69% | +1.18% |
Volatility
IBZL.L vs. AMEL.DE - Volatility Comparison
iShares MSCI Brazil UCITS ETF (Dist) (IBZL.L) has a higher volatility of 5.42% compared to Amundi MSCI Emerging Markets Latin America UCITS ETF EUR (AMEL.DE) at 4.90%. This indicates that IBZL.L's price experiences larger fluctuations and is considered to be riskier than AMEL.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBZL.L | AMEL.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.42% | 4.90% | +0.52% |
Volatility (6M)Calculated over the trailing 6-month period | 17.53% | 15.19% | +2.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.29% | 17.96% | +3.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.40% | 20.65% | +5.75% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 31.47% | 25.09% | +6.38% |
IBZL.L vs. AMEL.DE - Expense Ratio Comparison
IBZL.L has a 0.74% expense ratio, which is higher than AMEL.DE's 0.20% expense ratio.
Dividends
IBZL.L vs. AMEL.DE - Dividend Comparison
IBZL.L's dividend yield for the trailing twelve months is around 5.82%, while AMEL.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AMEL.DE Amundi MSCI Emerging Markets Latin America UCITS ETF EUR | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
IBZL.L iShares MSCI Brazil UCITS ETF (Dist) | 5.82% | 5.74% | 8.31% | 6.83% | 16.49% | 8.64% | 2.44% | 3.28% | 3.31% | 1.86% | 2.24% | 5.42% |
Frequently Asked Questions
With a correlation of 0.91, IBZL.L and AMEL.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, AMEL.DE is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
AMEL.DE is cheaper with a 0.20% expense ratio, compared with 0.74% for IBZL.L.
IBZL.L tracks MSCI Brazil NR USD, while AMEL.DE tracks MSCI Emerging Markets Latin America. They also come from different issuers: iShares and Amundi. Their fees differ too: 0.74% for IBZL.L and 0.20% for AMEL.DE.
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